To rent or to buy: Which is the cheaper option right now?

To rent or to buy? That is the question for Mississauga residents who aren’t sure if they should invest in a home or potentially save on monthly living expenses at a time of high inflation and economic uncertainty.

According to real estate website and brokerage Zoocasa, it is actually a bit cheaper to rent a home rather than buy one right now in Mississauga.

In Mississauga, the average rental price of a one-bedroom unit sits at $2,070. By comparison, the average price of a condo unit sits at $638,382, with the average monthly mortgage payment coming in at $2,768. That means that tenants are spending almost 34 per cent less on a monthly basis than those who purchased a condo unit of comparable size.

Read the full article HERE

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