ACCOUNTANT EXPLAINS Should you Rent or Buy Your Home

Video Description

If you are dreaming of purchasing your first home - you may be wondering if it really makes financial sense to own a home rather than simply renting. I ran the calculations and I was surprised to find what the best option was based on the current real estate market and interest rates. In this video, I will go over common misconceptions that people have when buying vs. renting and why it’s flawed, I will run through the numbers on whether it makes financial sense to own vs. rent, as well as other important considerations you should know. 00:00 Intro 00:26 Common Misconceptions 02:27 Is it really better to own vs. rent? Assumptions Used 04:32 Two Scenarios 04:47 Scenario 1 Calculations 09:58 Scenario 2 Calculations 13:34 The better option? 14:00 Other important considerations Disclaimer: Note this video is not financial nor accounting/tax advice and should be used for entertainment purposes only. Consult with your own financial advisor, accountant and/or tax advisor for advice related to your specific situation. ________________________________ FAV PLATFORMS [WEALTHSIMPLE] Earn💰$25 Cash Reward when you sign up & fund a Wealthsimple Account: https://my.wealthsimple.com/app/public/trade-referral-signup?code=HJXFMQ [QUESTRADE] Earn💰$50 Cash Reward when you sign up & fund a minimum of $1,000 using my CODE 666020718448695 [EQUIFAX] Protect yourself against Identity Theft and take control of your Credit Score with Equifax Complete™ Premier: https://api.fintelconnect.com/t/l/66314851be52ec001bd58764 ________________________________ FREE RESOURCES 💰FREE BOOKKEEPING TEMPLATE https://www.gabrielletalksmoney.com/resources 💰FREE BUDGETING TEMPLATE https://www.gabrielletalksmoney.com/resources ________________________________ CONNECT WITH ME 💼 Tax & Accounting Services: https://www.balanceandwealth.com/ 🌍 Blog: https://www.gabrielletalksmoney.com 📸 Instagram: @GabrielleTalksMoney ________________________________ WHO AM I: Gabrielle is a CPA and Tax Expert, as well as the founder of Balance + Wealth CPA, a licensed CPA firm that specializes in Tax. Prior to starting her business, Gabrielle worked as a Tax Manager at one of the Big 4 Accounting Firms for 7+ years, advising Fortune 500 companies. Gabrielle posts weekly videos on personal finance, business finance, and tax tips. ________________________________ *This description contains some affiliate links, meaning that I may earn a minimal commission if you click through and use these links (at no additional cost to you).