Home Ownership Versus Renting

When it comes to the debate about whether to buy a home or rent, there are several benefits of owning your home, benefits that don't easily fit into a spreadsheet comparing homeownership with renting.

First, you can lend money, at mortgage rates, for investment purposes. This is a lower rate than other loan types. This makes the Smith Manueovre more attractive.

Second, you are "more secure" in a home because, if I recall correctly, under Canadian law you can't be evicted/foreclosed on until you miss three consecutive mortgage payments. People who own real estate have a higher status under the law.

Third, from an investment viewpoint, a principle residence is not subject to capital gains. You get to keep all the profits.