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Renting vs Buying A Toronto Condo | Full Cost Breakdown [2024]

In this video Jason breaks downs the cost differences between renting and buying a one bedroom condo in downtown Toronto. 🗓️ Book a call or meeting with us: https://www.yourtorontoproperty.com/c... Three questions answered in this video: 1. What are the upfront costs? 2. What are the ongoing monthly costs? 3. What would your financial position be after 5 years of renting vs owning? Jason answers these questions by covering the following: - Analysis of condo sales and rental data from April 2024. - Detailed calculation of upfront costs for buying versus renting. - Breakdown of ongoing monthly costs for both scenarios. - Projection of your financial position after 5 years, including mortgage payments, property taxes, maintenance fees, insurance, and utilities. - Insight into equity build-up through mortgage principal paydown and property value appreciation. WATCH NEXT: 🔮 Jason's predictions for the 2024 Toronto Real Estate market:    • 2024 Toronto Real Estate Predictions   CONNECT WITH US: 🌍 Website: https://www.yourtorontoproperty.com 📸 Instagram:   / bondysawyer_realestateteam   👍 Facebook:   / bondysawyerrealestateteam   🖇️ LinkedIn:   / jasonbondysawyer   WHO WE ARE: 🤝 Jason & Danielle Bondy-Sawyer are a husband & wife real estate team in the city of Toronto. 🏠 Selling homes & advising clients since 2006. 🏆 Award winning realtors w/ Royal LePage. TIME STAMPS: 00:00 - Intro 00:31 - The Numbers 01:23 - Upfront Costs 03:58 - Ongoing Monthly Costs 05:47 - Financial Position After 5 Years 09:21 - Renting vs Buying: Which Is Best? #torontorealestate #torontocondos #torontohomes The opinions and observations expressed herein are solely those of Jason Bondy-Sawyer, and not those of Royal LePage Signature or the Toronto Real Estate Board. The opinions and observations expressed herein should not be misconstrued as financial advice or an attempt to solicit anyone currently under contract. Please consult a professional and complete your own due diligence prior to taking action on any decisions relating to the matters discussed in this or any of our videos. This communication is not intended to cause or induce breach of an existing agency agreement, nor is it financial advice.