502 –  Should I Buy or Rent a Home? What Makes Sense in Today's Market

502 – Should I Buy or Rent a Home? What Makes Sense in Today's Market

Author: Doug Hoyes April 13, 2024 Duration: 30:48

Should you buy a home or rent in Canada? We look at the risks and expenses involved when it comes to purchasing a home.  From the unpredictable market trends to steep mortgage penalties and ongoing maintenance costs. As we weigh at the pros and cons, this episode may make you rethink your views on homeownership, not only as an investment but as a consumer choice. Could renting be the smarter choice in 2024? Watch the episode now to find out.

Time Stamps:

00:00 Introduction

01:00 Reasons you should own a home

03:38 Is a mortgage a forced savings plan?

06:10 Reasons not to buy a home

06:21 Timing is everything in real estate

08:17 Variable rate interest only mortgage vs. amortization mortgage

12:03 Moving if you own a home vs. if you rent

15:29 Maintenance

18:50 Credit creep

24:11 Practical advice

 

Related Links:

Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/

Hoyes Michalos Bankruptcy Study: https://www.hoyes.com/press/joe-debtor/

Why Does Home Ownership Cause Financial Problems?: https://www.hoyes.com/blog/why-does-home-ownership-cause-financial-problems/

Think Twice Before You Get a Home Equity Line of Credit: https://www.hoyes.com/blog/think-twice-before-you-get-a-home-equity-line-of-credit/

Why a House Does Not Guarantee Financial Security: https://www.hoyes.com/blog/why-a-house-does-not-guarantee-financial-security/


Doug Hoyes sits down each week with a different specialist to untangle the complicated feelings and hard numbers around owing money. The conversations in Debt Free in 30 move beyond simple scare tactics or dry theory, focusing instead on actionable strategies for managing debt, rebuilding savings, and making informed investing choices. You’ll hear from trustees, financial planners, and counselors who explain concepts in plain language, stripping away the industry jargon that often leaves people feeling overwhelmed. Whether it’s navigating a consumer proposal, understanding credit scores, or starting to invest with a tight budget, this podcast provides a clear-eyed look at the steps toward financial stability. Doug’s approach is grounded and pragmatic, reflecting his deep expertise in the field, making each episode feel like a direct consultation with a knowledgeable guide. Tuning in regularly offers a consistent source of demystified advice, turning what can be a stressful topic into a manageable process. It’s that blend of expert insight and relatable conversation that defines this particular personal finance podcast.
Author: Language: English Episodes: 500

Debt Free in 30
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