Renting first makes sense if you are still learning the area or your timeline could shift, since it avoids committing to a mortgage before you are certain, and the Canada Mortgage and Housing Corporation sets a minimum down payment of 5 percent up to $500,000 then 10 percent above that, giving you time to save toward whichever amount you need.
Buying right away tends to make more sense once you know Martensville is where you want to be, because rent generally rises over time while a fixed mortgage payment does not, and part of every mortgage payment builds equity rather than disappearing.
A lawyer, typically $800 to $1,500 for a residential file, and a realistic look at Martensville's own current listings will tell you more than a general rule of thumb.
Get your hand-reviewed valuation from Joel Dyck.