I was asked the other day to work out the difference between buying versus renting. This one bedroom condo at 2230 Trafalgar Unit 121 in London is priced at $86,000. With Fanshawe College near by, The London Airport, Highway 401 easy access to Woodstock and Ingersoll, this neighbourhood would be great for a couple or single person who would like to save money and live economically. To go to the virtual tour: http://www.enveloperealestate.com/Listing/VirtualTour.ashx?listingid=17987157 Here are the numbers: Income Needed to Qualify for the Mortgage   Total Monthly Loan Payment: $704.92   Total Monthly Debt Payment: $904.92   Monthly Loan Insurance (2.75%): $12.96   Qualifying Income of 28% GDS Ratio: $30,765.94   Qualifying Income of 36% TDS Ratio: $30,595.73