Renting vs Buying by Beverly Freeman https://padlet.com/beverlyfree1/lnyqlbiuv0zd My Wallboard with tips and helpful information to assist you assessing your decision of Renting a Home vs Buying. (by Beverly Freeman.) en-us 2018-11-26 16:14:17 UTC 2024-10-13 08:34:13 UTC hello@padlet.com https://padlet-assets.s3.amazonaws.com/icons/Simplehouse.png Post #: 2 Welcome Potential Home Owners and Lease Holders beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307864030 To have the comfort,  joy and pride of your own space called home, is always at a price with unpredictable economic trends and population flocking to cities. The BIG Question is, ' Is renting  better than buying in today's market?'  Below, we will take a look on some tips to be considered in the interim of planning for a humble abode or luxurious space to call your own home.

]]> 2018-11-26 16:21:12 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307864030 Post #: 3 Video #1: Grappling with the High Cost of Housing Interview beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307885604 https://tvo.org/video/programs/the-agenda-with-steve-paikin/rent-dont-buy

This video interview was  with Alex Avery, author of 'The Wealthy Renter,' by Steve Paikin to discuss some of the opportunities and benefits of renting instead of buying. In this video, renting is highlighted as a better option than buying. I am not in agreement with Alex Avery. i am in agreement with the conventional wisdom which says, "If you can afford to buy a home, you should, because renting is the act of paying someone else's mortgage and leaving the renter with nothing to show for years of payments." while promoting renting over buying a home, Alex Avery owns a home. He is not renting, and therefore, not living what he preaches. He refers to people who advocate for home ownership as part of a cult. this statement can be easily flipped and the other side rightly fits his statement.    ]]> 2018-11-26 16:52:37 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307885604 Post #: 4 Website #1: You should rent a home, not buy one, if : a) You would be bad at taking care of a house; b) You didn't have a cushion if things go wrong, among other things. beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307893175 https://www.theglobeandmail.com/investing/personal-finance/household-finances/article-you-should-rent-a-home-not-buy-one-if/

An article by Rob Carrick, The Globe and Mail. Bob Carrick, Personal Finance Columnist, discusses reasons to rent a home, instead of buying one. He based the foundation of his argument on information he garnered from Jared Dillian, American Financial Writer. In his view, Jared postulates that, "A house has a very cost of carry, and unless you buy a new house, you are going to spend up to 1 % of its value on maintenance every year."
With all honesty, we can admit that almost every usable thing we buy, whether new or used, will wear and tear and also depreciates, and will need repairs and some sort of constant maintenance to stand. However a house is among the few things that the price has the potential to go up. Therefore, there is no need for this sort of negative signal regarding buying and owning a home.]]> 2018-11-26 17:03:04 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307893175 Post #: 5 Image #1: The Pen & Contract Document : Apartment Leases vs. Rental Agreements beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307896349 http://www.rentseeker.ca/blog/index.php/know-your-options-apartment-leases-vs-rental-agreements/1093
The image of the 'pen' signifies the instrument of commitment which is used to seal the binding agreement between the parties involved in the renting or leasing affair. Thus, affixing one's signature to the document in question, seals the contractual agreement, making it legal. ]]> 2018-11-26 17:08:10 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307896349 Post #: 6 Video #2 : Mortgage Professional Canada 2019; Pre-Budget Consultation beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307905573 https://mortgageproscan.ca/advocacy/federal-matters/news/2018/09/26/2019-pre-budget-consultation

Financial Literacy Leader of the year Award.                                                          Christopher Nichilo, A worthy recipient of this prestigious award, was introduced by Martin Reid, the president of 'Home Trust,' the company which sponsored the award. Christopher Nichilo was referred to as: A world class public speaker, and an expert in the areas of:
  • Financial Literacy
  • Private Mortgage Investing and
  • Interpersonal Communication  
A hearty, positive statement which was made in connecting Christopher to his career is the positive impact he made in 2007, when he launched the Magnetic Mortgages and Investing Inc. He used the a proprietary strategy called; 'The Method' to achieve his goal. It is a strategy which teaches Canadians how to build equity in their homes up to five times faster than the normal, using the same money. This is the type of empowerment and education people need to advance positively in life. Christopher stated that his motive is to empower people how to easily get out of mortgage, similarly to how easily they get into it.    
 
]]> 2018-11-26 17:22:59 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307905573 Post #: 7 Website #: 2 - Own vs Renting by The Mortgage Professional Canada beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307908430 https://mortgageproscan.ca/docs/default-source/government-relations/owning-vs-renting-2018.pdf

This website carries articles as recent as September 2018, conveying report, highlights of underlining views of home ownership, and the return on the capital to investors over long term investment.  A very interesting area of this article is a table labeled:
Table 1: Comparing the Cost of Owning Vs Renting in Canada, as of 2018 - Q 2  It is a very interesting, pre-calculated table with every aspect of the calculation needed for comparison and decision making, plugged in. Some of the outlined and calculated areas displayed are as follows:
  • Owner Cost
  • Tenant Cost
  • Owning Vs Renting
  • Capital Invested and
  • Return on Investment
This website carries vital information which can educate persons with the intention to rent or buy a home. I would recommend it as a good one.
 

]]> 2018-11-26 17:27:19 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307908430 Post #: 8 Image #2: Quick Sale, Satisfactory Profit beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307912683 https://getanoffertoday.com/common-questions/

Owning a property, gives families a much more stable expectations of expenses and better future planning even if it cost more in the beginning. Sometimes families sell their homes either to upgrade or downsize the current one. This image seems to be showing the possibility for quick sale with satisfactory profit. By the time the child holds up the home for sale sign, the father holds the sold sign way up high. Which shows that by the time it is advertised for SALE, it is SOLD. See! he family is happy and is celebrating.]]> 2018-11-26 17:34:37 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307912683 Post #: 9 Video #3: Buying vs Renting - The pros and cons beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307919743 https://bc.ctvnews.ca/video?clipId=621240

Jason Peters from Coastal Capital Savings, looks at the Benefits of Renting.
In his interview with Kerry, Jason Peters shows a bright side for renting and whom such benefits most. The interview was carried out on the basis of a recent survey that shows that by the year 2025, only individuals working in the senior business construction and engineering positions will be able to afford a home in Vancouver. Jason postulates that renting is not a bad idea, especially for people who have mobility in their career and move around a lot, people who are single, and also for those who have just started their career and are yet financially stable.
Jason also put forward the point that there is always a strong preference for home ownership, but, with the escalation of the minimum down-payment, the affordability is becoming even harder. The greatest eye-opener which he puts forward pertaining to the pros and cons is: If you buy, whenever you come to the end of paying mortgage, you can enjoy the equity. On the other hand, if you decide to Rent-For-Life, until death, you will always have rent to pay.       


]]> 2018-11-26 17:45:51 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307919743 Post #: 10 Website #: 3 - Rent vs. Buy Calculator beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307930923 http://wheredoesallmymoneygo.com/rent-versus-buy-calculator/

This website has a heading of a wonderment question:
 Where Does All My Money Go?  
The best way to know the answer to this question, is to keep a log of all income and expenditure. The article of this website commenced with a true statement regarding the calculation of the math of the subject, which is said to be relatively easy, but the discipline/behavioral considerations are everything excepting easy.
I found the website to be educational/informative. It analyses and puts forward many factors which impact the decision of renting versus buying a home. It carries a 9 minutes video which is imperative to watch in order to understand the comparison between renting and buying a home. In addition, it carries a spreadsheet which one can download and plug in his/her own numbers and calculate what needs to be. I would recommend this website as a good source of information to anyone who needs to be educated on the basics or more about calculating the difference in renting versus buying]]> 2018-11-26 18:04:09 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307930923 Post #: 11 Image #3 A Happy Family Posing Together Outside Their Home. beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307932116 http://canadarealestateadvisor.ca/rentoown.htm

This picture depicts a happy family standing outside a home which they aspire to fully own some day. They are happy that while renting-to-own, they can love, share, enjoy life, and grow optimistically in the place that they will eventually own some day as their own home. ]]> 2018-11-26 18:06:23 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/307932116 Welcome to the Big Debate 'Renting v Buying' beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/309283233 2018-11-29 14:10:49 UTC https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/309283233 Post #:12 beverlyfree1 https://padlet.com/beverlyfree1/lnyqlbiuv0zd/wish/310122656 Reflective Discussion Questions and Answers

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