Buy in hot Toronto market or continue renting?

If rent control stays in place and OP does not move apartments, his/her rent will be around $2400 in 10 years (if landlord increases 1.8%/year)

Lets be conservative and assume OP salary doe not increase over 10 years. Let's also assume 25% of paycheque savings rather than 35% (the extra can go to covering the extra amount needed on mortgage) In 10 years OP's mortgage and maintenance should be around or slightly less than rent would cost. He/she will also have a savings of $125k +/- 25k. All of this and we haven't talked about taxes that can be deducted for mortgage % payments. Not an expert in this area at all, but these numbers make sense to me as is.

/r/PersonalFinanceCanada Thread Parent