Real Estate Group
St. Albert Real Estate | Experience, Integrity and Service that Sells Homes!!

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To Rent or To Own?

Trying to decide if you should sign another lease with your landlord?

Before you do, try out our Rent vs. Own Calculator to see how much money you can save by chosing to buy instead!


There are several reasons that home ownership can offer advantages compared to renting

  • Wealth accumulation by paying down debt in the form of mortgage payments, whereas rent pays a landlord's mortgage down.
  • Your credit rating improves when you own a home.
  • Over time, your net worth increases allowing you to establish a preferred status with your bank, giving you the opportunity to make other major plans such as owning your own business.
  • If you would become unemployed, the landlord still expects the rent payment; most lenders will work with you and perhaps add the missed payments to your mortgage.
  • Owning your home allows you to choose how to live, what colors, what decor, what personal choices you prefer.
  • If you decide not to live in your home, you can make the choice of selling and moving elsewhere, and over time you will have accumulated equity to take with you - tax free!
  • If you require short-term loans, lines of credit, or other revolving credit arrangements, home ownership will provide greater opportunities to obtain the same credit arrangements at a lower cost.
  • The wealth accumulation achieved by owning your home is tax free, since equity in your principal residence is not a taxable gain.
  • There is a program available for homeowners only, which provides job loss insurance to cover the mortgage payments while you look for work and get back on your feet.
  • A mortgage payment can be fixed for up to ten years!
  • You can purchase a property for as little as 5% of it's value upfront in cash.
  • Pride of Ownership: you will be amazed how the small repairs that used to bug you in your rental are now a joy when you own your own home.
  • Sweat Equity: what stocks let you add value by painting, landscaping, adding a pool, remodelling a kitchen or bath?
  • Retirement Plan: every mortgage payment and every percent of inflation adds to your retirement.
  • You now have an estate to pass on.
  • You don't answer to anyone (except the bank).
Copyright 2020 by the REALTORS® Association of Edmonton. All Rights Reserved.
Data is deemed reliable but is not guaranteed accurate by the REALTORS® Association of Edmonton.