Sunday, June 16, 2013

Buy or Rent? Canadian Home Prices Are Not Overvalued-BMO

 


Vancouver Condos Harbourfront
Vancouver Condos


Rent Or Buy-Canadian Real Estate Market Prices

A recent BMO report challenges the notion that Canadian Home prices are overvalued versus the cost of renting a Home.

Should someone in today's Real Estate Market choose to rent or buy?

Om a national basis, home ownership looks only moderately expensive when compare to renting but differences occur on a more regional basis.

Here are a few of the Regional difference in Home owndership across Canada:
  • Toronto Homes and Condos for sale appear only slightly overvalued compared to historic norms.
  • Calgary Homes for sale and rent prices as well are rising  in stable manner.
  • Vancouver Homes and Condos for sale are starting to lower from higher levels.
Renting over owning is a very personal decision and those who rent should consider building a long term savings and investment plan to compensate for the long term value of a property in future years.

Iris Li is a ReMax Condos Realtor specializing in Toronto Downtown Condos, Condominiums, Town homes and Lofts. Call now for a scheduled showing of these properties.