Want to settle in Oakville but facing the age old question: to buy or to rent? Oakville is a beautiful place for residential property investment. In any case, if you need money, renting is a wise decision. Apart from this also, the market growth in Oakville gives you a better chance for real estate investment. However, mortgaging is not a good option for everyone. Confused already? Let’s figure out what is the right choice and how to make a decision about Oakville townhomes.
How to decide whether to rent or buy a townhome in Oakville?
Whether you rent or buy a townhome, keep one thing in mind it will be going to change your lifestyle and financial condition. So dive deep into such aspects, and you will easily come up with an answer. To help you more, we have compiled a list of questions that you can ask yourself and choose between renting or buying a townhome.
Are you financially stable? Do you have any other long-term goals?
Buying a house requires a significant upfront investment. If you are ready for this, then buying a home is definitely the right call. Apart from the down payment, you have to make necessary arrangements for closing costs and ongoing mortgage payments. If you don’t have any ongoing long-term goals, then it is best to invest in real estate.
What is the current market condition of Oakville townhomes?
If you see a scope for future appreciation, then it is best to buy a home. When it comes to townhomes in Oakville, it can be said that the property prices are soaring and buying a home right now would be a wise investment.
How long are you planning to stay in Oakville?
Townhomes are a wise decision when you seek stability and equity building. If career prospects are making your future decisions uncertain then you might consider renting a townhome.
Are you ready for the additional cost of maintenance and upkeep?
Owning a home comes with its own set of responsibilities. For a townhome owner, the additional maintenance cost is a point of consideration. Renting is a stress-free option for many but if you look at the bigger picture then you will understand that investing in a townhome has a promising future.
Is it going to be a profitable real estate investment in Oakville?
The potential appreciation should be considered when you make a decision. Oakville is one of the most demanded regions for residential investments and if you make a buying decision today, it may contribute to your financial well-being in future. Renting a townhome may not offer such benefits.
Buying a home has its merits, in terms of appreciation and ownership. However, you need to evaluate your financial condition and evaluate your priorities. If investing in a townhome matches your financial aspirations, then you can begin your house hunting with Dunpar Homes. They specialize in beautifully designed and affordable Oakville townhomes.
Thomas Willium is the author of this article.To Know more about Oakville townhomes please visit our website:dunparhomes.com