Toronto SUN Editorial, October 2005
With hundreds of thousands of rental units throughout Toronto and
the GTA, renting becomes a reality for most of us at some point in
our lives; it's easier, can be done quickly and requires very little
commitment. But at the end of it all what are you left with? Besides
the nagging feelings that come with paying someone else’s mortgage,
and constantly having to “hold back” on doing work on
your home because it’s not yours, you’re not left with
much.
Contrary to the hopes and dreams of landlords everywhere, most people
don’t plan to rent forever. The shocking reality however, is
how much people actually spend on rent each year: a monthly rent payment
of $1200.00 adds up to $14,400.00 over a period of one year –
or a sizeable downpayment.
The realization that usually motivates people into buying is “if
I can afford to pay rent every month,….”
For the most part, paying rent every month is no different than paying
a mortgage. Although there are many factors to be considered, the
additional amount you may need to pay for a mortgage is usually still
affordable, and always worthwhile.
The good new is that man of today’s renters
could probably be home owners if they had the knowledge and
the guidance to get them there. A Richmond Hill based company, Artisan
Financial Management Services, is doing just that.
“We first discovered
Artisan Financial flipping through the classifieds while looking for
a new place to rent. Our rent was going up again and we just couldn't
justify spending over $1200.00 a month in rent that was going into
someone else’s pocket. After speaking with the banks and finding
out how much we’d be required to put down it seemed like a loosing
battle. We’d seen the ad for Artisan Financial many times before,
and just brushed it of as “too good to be true”. Out of
frustration, I guess, we finally decided to call. Less than 3 months
later we are the proud owners of our own home! Next spring we plan
to expand the back deck and for the first time enjoy a summer entertaining
our friends in “our own” back yard.”
Janice and Ron Walters.
Seven years ago Artisan Financial Management Services identified
a need for someone who would look at people’s situations more
intimately and began developing a strategy for success specifically
geared towards renters and first-time home buyers. To date, they have
helped make the dream of home ownership a reality for over 721 families
across southern Ontario.
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