Is It Better to Rent or Buy a House?

There’s no one size fits all answer.

Renting gives you flexibility, while buying can help you build equity over time.

The right choice depends on your money, lifestyle, and how long you plan to stay in one place.

How KOHO Everything Can Help Either Way

Whether you rent for now or plan to buy later, you still need an account that helps your money grow while you decide.

That’s where KOHO Everything comes in:

• Grow your savings with 3.5% interest, one of the highest rates in Canada

• Earn a 2% cash back rate on groceries, eating, drinking, and transportation and 0.5% cash back on everything else

• There are no foreign exchange fees, so you save on international purchases and travel

• Unlimited transactions and free e-transfers

• No minimum balance required, ever

When Renting Makes More Sense

Renting can be better if you:

• Aren’t sure you’ll stay in the same city for long

• Don’t have a down payment saved yet

• Prefer predictable costs without surprise repair bills

• Want to keep things flexible while you build savings and credit

It’s often the smarter move if you’re still stabilizing your income or not ready for long term commitment.

When Buying Makes More Sense

Buying can be better if you:

• Plan to stay put for several years

• Have a solid down payment and emergency fund

• Can handle extra costs like repairs, property tax, and insurance

• Want to build equity over the long term instead of just paying rent

Owning is less about “instant win” and more about slow, long-term payoff.

How to Decide What’s Better for You

Ask yourself:

• How long will I realistically live here?

• Can I handle unexpected costs (repairs, rate changes, etc.)?

• Do I have other goals (travel, career changes) that need flexibility?