Should you own or rent your home
Owning your home is a long term strategy. Renting should be a short term strategy. In either case the payments should fit your budget. It's all about affordability and ideally you should not spend more than 30% of your total income on housing. If you like to crunch the numbers try the Rent or Buy Calculator at Canada's Office of Consumer Affairs web site.
Or if you would like to discuss your housing strategy with a real estate professional, I invite you to contact me. There is affordable housing in the Moncton area.
The chart below was prepared by Statistics Canada from the 2006 Census. In the Moncton Census Metropolitan Area 43.8% of renters are spending more than 30% of their total household income on shelter costs compared to only 13% of owners.
So, in the long term, in which group would you like to be?
Or if you would like to discuss your housing strategy with a real estate professional, I invite you to contact me. There is affordable housing in the Moncton area.
The chart below was prepared by Statistics Canada from the 2006 Census. In the Moncton Census Metropolitan Area 43.8% of renters are spending more than 30% of their total household income on shelter costs compared to only 13% of owners.
So, in the long term, in which group would you like to be?
Posted by Larry Estabrooks - Agent at 6/24/2009 3:55 PM 
Categories: Buyer Alert
Tags: moncton housing affordability
Categories: Buyer Alert
Tags: moncton housing affordability
I found your article very interesting. I find that a lot of my first time buyers, in the Calgary Real Estate market, are paying close to or more than the monthly cost of a mortgage. If you have a down payment and you qualify for a mortgage, I think most people should consider buying a home. Thanks for the article.
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