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Word Count: 736
Most people have moved into ownership because of low interest rate and fair financing options Renters come in different forms for example families mature adults and seniors all contribute to the housing market in Canada In todays economy they are many advantages and disadvantages to owning a home versus rentingOwning a home is most preferred by people because they want a stable and a permanent residence rather than moving from one place to another Advantages of owning a home are after years of payments the house permanently belongs to the home buyer Considering the house belongs to the home buyer they are able to decorate and paint their home however they like without any consent from a landlord Home owners are able to use their house as a security for a loan which could be used for start-up business school or other ventures but individuals who rent do not have the same opportunity because the property they are renting does not belong to them People who rents also do not get the same luxuries as home owners do for example home owners have a greater amount of space in their home and they have more privacy Being a home owner is a huge responsibility Evelyn Lau wrote After 12 months of searching I no longer believed I would purchase anything It takes time to buy a home Buyers have the opportunity to negotiate house prices renters on the other hand cannot do the same for rent High amount of investments can be generated from home owning for instance a home buyers house can increase in value which is equity that is available to the home owner to use at their own discretion Through the generated investments home owners are able to negotiate with banks against their own homeThere are various aspects to deal with when searching for rental homes When an individual is renting an apartment the tenant has to pay their first and
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