In Toronto’s housing market, one of the biggest financial questions is: “Should I keep renting, or is it time to buy?”
The truth: there isn’t a one-size-fits-all answer. Renting isn’t “throwing money away,” and buying isn’t always “better.” The right choice depends on your numbers, your lifestyle, and your vision for the future.
As a Mortgage Agent Level 2 and Holistic Financial Coach, I help families and professionals make this decision with clarity, confidence, and peace of mind.
Renting: Pros & Cons
Pros
- Flexibility to move without selling.
- Lower upfront costs (no down payment or closing costs).
- No property tax, major repairs, or maintenance bills.
Cons
- No equity growth over time.
- Rent may increase at renewal.
- Less control over your home (landlord decisions, rules).
Buying: Pros & Cons
Pros
- Build equity as you pay down the mortgage.
- Stability and long-term security.
- Ability to customize or rent part of the property (duplex, basement, multiplex).
Cons
- High upfront costs (down payment, closing, land transfer tax).
- Ongoing expenses: property taxes, insurance, maintenance, repairs.
- Less flexibility if you need to move quickly.
The Math: Rent vs. Buy Calculator
The numbers matter — but they’re not the whole story.
- Compare monthly rent vs. mortgage payments (including taxes, insurance, condo fees).
- Factor in upfront costs: down payment + closing.
- Consider the opportunity cost: what if you kept renting and invested the difference?
🛠 Use the Rent vs. Buy Calculator at /en/tools to run your own scenarios.
Holistic Factors Beyond the Math
- Lifestyle: Do you value flexibility or stability?
- Stress: Will owning stretch your nervous system or create peace?
- Family stage: Kids, retirement, newcomers, or career transitions.
- Values: Do you want roots in a community, or freedom to move?
💡 Human Design insight: If you have Emotional Authority, sleep on major housing decisions — clarity comes after time, not pressure.
Case Study: Toronto Family Example
- Renting: $3,200/month for a downtown condo.
- Buying: $750,000 condo with 20% down ($150,000).
- Mortgage + tax + condo fees ≈ $4,200/month.
- Plus upfront $150,000 down payment + $20,000+ in closing costs.
Trade-off: Renting preserves cash flow for travel, RESP, and flexibility. Buying builds equity but requires higher monthly outflow and commitment.
✅ Quick Decision Checklist
- Do I have 3–6 months of emergency funds?
- Can I cover down payment + closing + reserves?
- Does buying fit my 5–10 year life vision?
- Am I choosing from clarity, not pressure?
Let’s Decide Together
Whether renting or buying, the right choice is the one aligned with your numbers, your goals, and your peace of mind.
I’ll guide you through both the financial math and the holistic lens, so you feel confident either way.
Toronto-based. Bilingual. Professional. Heart-centered.