Is now the right time to buy? It\u2019s a complicated question. On one hand, rent is at a historic low; on the other, property prices have dropped, and inventory is high, giving buyers a rare opportunity to find deals. Despite these favorable conditions, becoming a first-time homebuyer is often not as easy as it seems. To help Canadians make the best decision, Zoocasa analyzed the buy-versus-rent math across 30 markets.<\/p>\n\n\n\n
While the national narrative often highlights the high cost of homeownership, there are still pockets in the Canadian real estate market where paying a mortgage is actually cheaper than paying rent. Regina<\/a> and Winnipeg<\/a> are the only two cities in the data where homeownership yields immediate monthly savings. In Regina, a monthly mortgage payment is $120 less than the average rent, while in Winnipeg, homeowners pay $92 less than their renting counterparts.<\/p>\n\n\n\n