Making money isn't just about cash. If you are acquiring property that holds or appreciates in value, you are increasing your net worth. The cost of the loan may be justified on this basis.

Here are some examples:

  • Renovating your home. With a growing family, you may not have the cash to do the renovations when your need for space is greatest. If you wait you will lose the opportunity to raise your children in a nice home. As well renovating increases the value of your home giving you better options if you decide to move.
  • Buying a vacation property. In many parts of Canada, real estate prices in cottage regions are soaring. Buying now gives your family the benefits, and the financing cost may be lower than what you would pay if you wait and buy at a higher price.

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