There are many practical and financially sound reasons for buying a home in today’s market, whether you’re thinking of a condo, a duplex flat, a townhouse, or even a single family home:

• Home ownership is an excellent way to build equity. That’s an important consideration if you’re trying to build some financial stability –especially if you happen to be single and are doing it on just one income.

• There’s the security that comes with making an investment for the future. When you own your home, you have a resource to fall back on.

• Paying a mortgage off is usually better than “throwing money away” on rent. You could be paying high rents for years, adding up to many thousands of dollars, yet never end up with anything that’s yours.

• Your rental expenses can potentially increase signifi cantly over time. However, if you buy a home and lock in a long term mortgage at today’s aff ordable rates, you’ll know exactly how much your payment will be for years to come.

• Owning your own home gives you the option of earning extra income, by renting out a specific portion of the property or by taking in a roommate.

• Home-ownership aff ords an asset to borrow against if you ever need to. Even if your mortgage isn’t paid off , you can still borrow against the equity you’ve built up in your home – and often at far better interest rates than you’d normally get for almost any other type of personal loan.

• Property values tend to appreciate over time. Historically, real estate has proven to be one of the best returns on investment for Canadian consumers. And you’re enjoying your investment by living in it, versus just a piece of paper sitting in a safety deposit box.