We spent yesterday at a conference with a couple hundred of the top max agents in Ontario. One of the speakers was a fellow whose business is almost entirely investors, and what he told us is investors are buying rental properties right now.
And the reason is because their mortgage payments stay the same over the next three or five years, but rents are consistently increasing.
That makes a lot of sense.
If you are renting right now, the same is true. You’re looking at increases each year to your rent, but if you had a mortgage, your payments would stay the same for the duration of that mortgage.
It may be time to rethink whether renting is the right choice for you right now.
If you want to talk about this, contact us. We’d love to chat.
Watch the market update here