Why rent when buying is more affordable?

Mike takes a look at rental rates and compares them to the cost of owning your own home.

Vancouver home prices took a dramatic drop at the end of last year and this has made owning your own home more affordable. Interest rates are also at an unprecedented low. Mike looks at renting a 1 bedroom condo in the Kitsilano area of Vancouver by searching Craigs List online. He then compares the costs of owning your own apartment to the cost of renting a similar flat. Mike explains why he feels it’s a good time to buy your own home to live.