Renting vs. Owning
There's a good article in the Vancouver Sun by Bruce Constantineau today about accumulating wealth through home ownership compared to investment in other vehicles. "Mortgages force you to save and people really go the extra mile to make their mortgage payments," says Tsur Somerville, lead author of a recent Sauder School of Business study at UBC. It takes a lot of discipline for a renter to achieve the same results as a home owner, but it is possible. In a lot of cases, to be successful we should do the opposite of what everyone else is doing. I would say that this is not one of those cases. Find a good realtor and start looking for a home today.