Should you rent or buy in Toronto?
It may seem tough to weigh in on renting vs buying in Toronto, but the same principles apply there as they do anywhere else, and renting is a great option for anyone needing flexibility. With the high transaction costs of real estate fees, mortgage fees and more, renting is also easier on your pocket in the short term.
But it seems that the Toronto housing market keeps skyrocketing, and the cost of buying is making it harder to become a home owner. Buying is financially better for first-timers, if they can afford a mortgage and title transfer fees outright, in the long run.