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Owning your home.
Buying
a home is the smartest financial decision you will ever make.
So long
as you live in the home the capital gains are not taxed.
We all have
to live somewhere so it makes more sense to make payments for something you
will some day own then paying rent that at the end of the month is gone and
you have nothing to show for it.
Also once you purchase the home the cost is locked in and over time
as the cost of living goes up your payments do not unless the interest rate
goes up. If you lock the interest rate for fixed periods
you now have a fixed payment for a fixed period.
Mortgage
rates are still the lowest and most flexible they have ever been.
Most
Canadian home owners would be financially broke at retirement if it weren't
for one saving grace - the equity in their home.
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