The Globe & Mail published an article last week
entitled. "There's No Shame In Renting, Rather Than Owning". It asked
the question, ‘will a person be less financially successful if they rent as
opposed to owning their principal residence’. They sent me a tweet to my
twitter account twitter.com/owenbigland
asking me for my opinion. While I agree there should be no shame in renting and
for some people renting makes more sense than owning. Especially if you
think you may need to move sooner rather than later and don't have the ability
to hold onto your home for the long run.
My simple reply back to them was Yes... chances are you will be less financially successful later in life by renting for long periods of time. Watch my video to find out why I feel this way.