In a society that often equates home ownership with stability and success, one British couple is challenging the norm. Bryce Leung and Kristy Shen, who achieved early retirement in their thirties, have decided to continue renting both their home and car, even after becoming parents. This contrarian approach is not just about lifestyle choices; it’s a calculated financial strategy that prioritises investment and flexibility over traditional ownership.
Renting vs. Owning: A Common Debate
The prevailing wisdom in Canada suggests that families should own their homes to provide stability, especially when children are involved. Statistics Canada reported that in 2021, 67 per cent of Canadians owned their homes. Furthermore, a 2025 Royal LePage Canadian Renters Report found that 54 per cent of renters aspire to purchase property. Yet, Leung and Shen are flipping this narrative on its head.
“Many told us that once we had a child, renting would no longer be feasible,” they shared. However, they found that renting allows for a more manageable lifestyle. The stigma associated with renting often leads families to feel pressured to own property, especially concerning factors like school districts and the risk of being “renovicted”—a term used to describe tenants being displaced due to landlord renovations aimed at increasing rent.
Financial Freedom Through Renting
The couple’s financial philosophy is rooted in the Financial Independence, Retire Early (FIRE) movement, which encourages individuals to save aggressively and invest wisely. By choosing to rent, Leung and Shen have eliminated additional burdens such as property taxes, maintenance fees, and insurance costs, allowing them to invest their savings instead.
Their current rental, a three-bedroom, two-bathroom apartment, is strategically located in a rent-controlled area, meaning that their rent increases are capped by provincial regulations. They calculated that the cost to purchase their apartment would be an eye-watering £870,000, while their monthly rent is comparable to what they would pay in mortgage interest. This strategy results in an annual savings of approximately £14,204.
The Flexibility of Renting
In today’s market, renting offers flexibility that ownership simply cannot match. With the rising interest rates and unpredictable maintenance issues, renting shields families from these financial pitfalls. Leung and Shen have invested in a diverse portfolio that has yielded a consistent 6 per cent return over the past decade—outpacing rental increases and providing a cushion for their living expenses.
Their approach emphasizes the importance of choosing the right rental structure. They prefer purpose-built rental apartments over individually owned homes, as these properties are less likely to be sold off by landlords, which would force tenants to vacate. In Ontario, they specifically seek out buildings constructed before 2018 to ensure that rent control laws remain applicable.
Prioritising Time Over Things
Leung and Shen’s philosophy revolves around maximising their time rather than accumulating possessions. “Instead of spending money on things, prioritise investing to buy back your time,” they advise. They believe that the returns from their investments should ideally cover their living expenses, allowing them to enjoy life without the constraints of traditional ownership.
This mindset challenges the assumption that home ownership is synonymous with adulthood or stability. By focusing on investments and renting, they argue that families can achieve a more balanced and fulfilling life, free from the stresses of property maintenance and unexpected financial burdens.
Why it Matters
The renting versus owning debate is critical in today’s economic climate, especially as housing prices soar and interest rates fluctuate. Leung and Shen’s story serves as a beacon for those considering alternative paths to financial security. By redefining the concept of stability and family life, they encourage others to assess their priorities and explore renting as a viable option in the pursuit of financial independence. Their journey illustrates that freedom and flexibility can often outweigh the conventional markers of success, paving the way for a new understanding of what it means to build a life as a family.
