July 28, 2019
Personal Investor: Why owning a home is a great retirement investment – BNNBloomberg.ca
Recently, Canada Mortgage and Housing Corporation President and CEO told Canadians they should stop using homeownership as a vehicle for savings, warning about the risks of return on their investment. However, for most Canadians, home ownership should still be a part of their retirement savings. One reason is that property values generally appreciate over time and are at the very least a good way to store value. Plus, gains in a principal residence are never taxed. People can use their home as collateral to gain financing. Finally, a home saves people from paying rent or can generate rental income.
“The most prudent retirement savings plan includes homeownership as part of an investment portfolio.”