Rent or buy?Hi everyone,My name is Jason, 23, from Edmonton, Alberta, Canada. Currently, I am looking to get a place of my own. Currently I am close to signing an agreement on a nice little modern updated 1 bedroom basement suite. The agreement is on a 6 month lease, paying $725 a month, as well as 40% of the utilities. My decision was that I may not be ready for purchase, but wonder if it will be better for me to buy. I have booked an appointment with Mortgage Professionals, to ask some questions and possibly get pre-approval on a home. I think preferably (if buying) I would like to find a place with an upstairs as well as a basement suite with a separate entrance that I could rent out.To get back to my financials, I will be honest as to what I have available. I accumulated quite some debt a few years ago (Student loans, line of credit, vehicle loan, personal loan to finance a much needed mattress/bed as well as a less than needed bedroom set) and have paid it all off entirely. My credit is very good. In TFSAs, I have approximately $8000+ put away. I have a GIC put away on a 3 year term, which (only $1000 anyways). I have about $1000+ in my chequings account. The nice thing about the company I work for, is that in the union we have an RRSP contribution. I have accumulated a total over $9500 in this plan. I mention this because I have heard you may use RRSP for first time home buyers without being taxed as long as you pay it back within 15 years of borrowing it. I know I don't have a lot, but wonder if I have enough to enter home ownership.I appreciate anyone and everyone who have taken the time to read through my post. I kindly welcome any and all comments and am certainly grateful for all of your knowledge and recommendations based on the information I have provided. Thank you for your time.-JasonSeptember 23 2013 - US00YesReport a ProblemProblemSelect oneOffensive contentIrrelevant contentSpam (pure self-promotion)OtherDetailsYour emailPlease enter a valid email address.Submit CancelContent flaggedWe will review this content. Thanks for helping make the site more useful to everyone. To learn more, read Zillow's Good Neighbor Policy.We're sorry. This service is temporarily unavailable. Please come back later and try again.