The Quickie: How To Buy Or Rent Your Next Home
Episode 41: The Quickie: The Quickie: How To Buy Or Rent Your Next Home
Teach Me How To Adult · Gillian Berner, Cailyn Michaan
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Show Notes
The housing market is absolutely insane in North America right now, especially in the major cities of Canada (helllllo, Toronto and Vancouver). The market is hotter than ever, and Canadian house prices and home sales hit record highs this March. So in today’s quickie, we’re diving into everything you need to know to navigate renting or buying your next home.
Whether you’re moving out into a rental for the first time or thinking about taking the plunge and buying real estate, there’s a lot to consider that can help you with your decision. Hosts Cailyn and Gillian bring their different experiences and perspectives as renters and homeowners to offer up realtalk on the process and logistics of landing your next home.
It’s daunting AF, but there’s still a ton of hope. It’s a good time to rent right now since we’re in a renter’s market, and if you’re looking into homeownership, interest rates are super low for the time being.
Tune in as we chat about:
- Trends in the Canadian real estate market, and how much buying a home or renting a condo could set you back in major cities
- How to decide between renting and buying based on your goals, values and finances (and the pros and cons of each)
- The % of your income you should be sending on your home
- The importance of location and neighbourhood
- The team of real estate agents, mortgage brokers and lawyers you’ll need in your corner
- Everything you need to know about mortgages, explained
- The hidden and unexpected costs of buying a home that you should prep for
- The process from submitting an offer to picking up the keys on your closing date
- The requirements checklist you should use for finding your ideal rental
- How to negotiate your rent like a boss
- The paperwork, proof and process you’ll need to secure your rental home
We hope this episode helps you in your search for the perfect rental or your first home. Happy house-hunting, friends!
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