So, I came across this article in the Financial Post:  Why it’s better to rent than buy so of course, it peaked my interest.

Although I don’t necessarily disagree, I was curious as to why David Kaufman thought as such and you know what, he has some great points.  I think when the majority of young Canadians, left to their own devices, will take the maximum amortization, the smallest payments, refinance every 3.4 years and never pay their mortgage down.  They will incur all of the costs of home ownership, but never really see any benefit.

But, these people also don’t set goals.  They don’t have a payment plan.  They don’t have someone advising them on debt management on a regular basis.

So although I agree with many of the things David Kaufman has said, here is another perspective.  What if you buy a home, set up a payment plan, and have your mortgage paid off in 15 years, as opposed to 25, 30…40.  Then, this is when being a home owner wins.  In 15 years, no rent payment, no mortgage payment.  MORTGAGE FREEDOM!

I guess what I am trying to say, the benefit to mortgage over rent, is that if managed properly there is an end date with a mortgage, and it can be sooner rather than later…with rent, there is never an end date.