The home is an in­vest­ment

The Telegram (St. John’s) - Home Buyers' Guide - - METRO REGION -

A study com­mis­sioned by the Cana­dian Home Buildersʼ As­so­ci­a­tion has found that home own­er­ship is, in­deed, an in­vest­ment. Here are the key find­ings: •Hous­ing Costs: While own­ersʼ shel­ter costs (in­clud­ing heat, light and main­te­nance) are greater than renters for sev­eral years fol­low­ing the pur­chase of a home, over time own­ersʼ costs be­come sig­nif­i­cantly lower than renters.

•Net Worth: The net worth of own­ers who had pur­chased a home 30 years ago is $198,000 higher than renters and $139,000 higher for those who had owned ver­sus rented for 20 years.

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