Under $80 difference between rent, mortgage prices in Kelowna the smallest in Canada
Across the country, homeowners spend almost $300 more on shelter costs per month than renters – though the average is a stark contrast to that of Kelowna.
According to real estate study website Point2, Kelowna homeowners pay just $78 on average per month than Kelowna renters, the smallest gap between the two in all of Canada’s major cities.“Beyond financial means, choosing whether to own or rent can be reduced to pros and cons,” said Point2 analyst Alexandra Ciuntu. “Renting means less responsibility, while owning is a long-term investment; renting might mean freedom, while owning can bring stability.
In determing the shelter costs, the census took into consideration mostly rent payments for renters, and mortgage, property tax, and condo fees for owners.
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