Thursday, October 21, 2021

Renting or Buying

I found this Money Sense article interesting. I must admit I have always rented and invested. I earn dividends as my income currently. I am happy with the choice I made.

I must admit that I felt a lot of pressure to buy a place from family and friends, most of whom bought places to live in. I did own a cottage for a while, while my son was young. I remember that there was always something that need repair each year. I also sold the cottage for more than I paid for it and the upgrades I had done. I had paid cash for it using my deceased husband’s insurance money, so there was no mortgage involved.

I was lucky I had a local contractor who would come in during the winter months and fix what need to be fixed. Also, I realized after being in the cottage for the first summer that the electric system was not set up well and called in a local electrician to inspect it. He fixed the problems and I was lucky it was not that expensive.

On my other blog I wrote yesterday about CCL Industries Inc (TSX-CCL.B, OTC-CCDBF) ... learn more. Next, I will write about Ovintiv Inc (TSX-OVV, NYSE-OVV) ... learn more on Friday, October 22, 2021 around 5 pm.

This blog is meant for educational purposes only and is not to provide investment advice. Before making any investment decision, you should always do your own research or consult an investment professional. I do research for my own edification and I am willing to share. I write what I think and I may or may not be correct.

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1 comment:

  1. Renting is the way to go. My mom and dad own a small house in New Brunswick - no matter if its a big or small house, it always required work and care. I guess with a big house, it only required more work, and just even more care.

    I am with you when it comes to renting. Buying is too much of a financial pressure. I feel its better to put your money at work in stocks that pay dividend and create an income.