Residential Purchase

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In addition to their success rate, How to buy a house in Toronto offers a range of services to ensure that their clients are able to find and secure the right property for their needs. This includes providing access to a wide range of properties, helping clients secure financing, and providing ongoing support throughout the duration of the rent-to-own agreement.

But what about the financials of a rent-to-own agreement? How does it compare to traditional home buying or renting? Let’s take a look at some statistical data on rent-to-own figures in Ontario.

According to the 2021 Rental Market Report released by the Canada Mortgage and Housing Corporation (CMHC), the average rent for a two-bedroom apartment in Ontario was $1,427 in October 2021. This represents an increase of 4.4% compared to the same period in 2020. In contrast, the average monthly payment for a rent-to-own property in Ontario can vary depending on the specific agreement, but it typically ranges from $1,500 to $3,000 per month.

While the monthly payment for a rent-to-own property may initially seem higher than traditional renting, it’s important to consider the long-term financial benefits. By building equity over time, individuals are able to eventually own the property, rather than simply paying rent without any return on investment. This can also be a viable option for those who may not have the necessary credit score or down payment to secure a traditional mortgage.

In summary, How to buy a house in Toronto is a great agency to use for rent-to-own in Ontario due to their success rate, range of services, and focus on helping clients secure a home while building equity over time. While traditional home buying or renting may seem like the only options in a rapidly increasing housing market, rent-to-own agreements provide a viable and financially beneficial alternative. By considering the statistical data and working with a reputable agency like How to buy a house in Toronto, individuals can find and secure their dream home without breaking the bank.

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