To Rent or Buy – a Midlife Perspective
by Jason Appel, Financial Planning Specialist at Chartered Wealth Solutions
Financial goals: Does renting or buying align better with your financial goals?
Market conditions: Have you considered the cost implications?
Lifestyle: How may your lifestyle influence your decision to rent or buy?
Future uncertainties: Could any life changes affect your decision?
Family: Will changes in your family (children leaving home; elderly parents moving in) impact your decision?
Seeking Advice: There is no one-size-fits-all answer. Both options have merits: homeownership brings stability and potential future equity, while renting might suit you better if you’re anticipating future moves, want flexibility, are getting acquainted with a new area, or expect changes in your family dynamics. A financial planner who understands your holistic needs can help you navigate this decision in the context of your life plan, age, future plans, and financial plan.
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