As lending rules have tightened up in Canada over the last year, we've seen an increase in the number of days on market for lower, entry level homes. I attest this to the fact that younger people are continuing to rent instead of doing everything in their power to save up and purchase their first home. There are a number of reasons that owning a house is far superior to renting.
1. You are building equity - if you could have a nicer home for the same price you are renting for PLUS be able to sell that asset for more than what you paid for it in the future, would you?
2. Ability to re-invest in your home. Upgrades to your kitchen, basement, bathrooms, yard, flooring, etc. will all bring a return to you in the future.
3. Pride - let's be honest, it feels a lot nicer to be able to say you own a home than you rent a home.
4. Control over finances - barring any major unexpected expenses showing up out of the blue, the cost of your home is pretty consistent. When you're renting, there's the potential that they jack up the price of your rent or terminate you as a tenant all together.
5. Freedom - when you own your own home there are no longer rules you must abide to (within reason) like being quiet (again, WITHIN REASON! You still have neighbours) and no pets. You don't have shared laundry, you don't have a shared backyard. You have the complete freedom to do as you wish with your own home.
If I was a young adult just out of University who was beginning my career, I would be pinching pennies left, right and center doing everything I could to save every last dollar to put towards the purchase of a home. To all you young people, I promise that it's worth it.
Search all houses for sale in Saskatoon with the most extensive MLS tools and find your next home today. It's time to build equity and establish your life in a home you can call your own.
Century 21 Fusion
Saskatoon, SK, Canada