Meet Susan – Should I Rent or Should I Buy?

Ah, the age-old question: to rent or to buy? I say, it depends.   

For some, a mortgage can feel like a tether. You’re rooted to one place, always responsible. House sitters, mortgage payments, repairs; it can feel like the house owns you, not the other way around.   

But on the flip side, you’re paying interest to live somewhere that, over time, becomes yours. You’re building equity, slowly but surely. Some critics say that’s an unfair privilege, but is it?   

Here’s a practical way to look at it: imagine two identical homes side by side. One is owned, one is rented. The homeowner pays for maintenance, property taxes, insurance, maybe condo or strata fees—plus all those unpredictable costs like furnace repairs, roof issues, or cracked siding.   

The renter, meanwhile, pays monthly rent, and that’s it. When the toilet breaks or the roof leaks, that’s the landlord’s problem. They’re not building equity, true, but they also aren’t sinking funds into upkeep.   

Now, here’s where it gets interesting: if a renter were to take the difference between rent and the full cost of homeownership and invest it wisely—consistently, over years—there’s a school of thought that says they could come out ahead. Yes, they paid rent, but they also stayed mobile, untethered. They weren’t locked in by land transfer tax, lawyer fees, or market dips. And if a noisy neighbour moved in, or construction started next door, they could leave. They had freedom.   

But here’s the catch—renting only works in your favour if you’re disciplined enough to invest the difference.   

Which brings me to Susan. Susan is in her early 60s, recently divorced. She received a moderate buyout from the sale of the matrimonial home, along with spousal support. She also worked two days a week—less for the income, more for the structure and social connection.   

Her friends were quick to chime in: “You should take that money and buy. Stop paying someone else’s mortgage. Build equity again.”   

They weren’t wrong—but they also weren’t right.   

To purchase, Susan would have had to use most of her buyout for a down payment. With home prices being what they are, that meant a condo. And once she added in property taxes, strata fees, repairs, and rising living costs, she would’ve gone from working two days a week by choice… to five days a week by necessity.   By renting, she kept her cash accessible. She maintained her lifestyle. She worked because she enjoyed it, not because she had to make a payment. And she stayed flexible—able to travel, adjust, or relocate without stress.   

So, what’s the right answer? It depends on your season of life, your goals, and your mindset. Renting isn’t for everyone, and neither is homeownership, but choice should be.   

And in the end, it’s not about doing what others think is best. It’s about building a life that works for you. If you’re unsure whether renting or buying makes more sense, I can walk you through your options without pressure or agenda. Sometimes the most valuable part of the conversation is surfacing the questions you didn’t know to ask.