Discussions

I would say your rent is more than fair. I've been looking around online - and looking at 2-3 bedroom homes. Most are pretty beat up - but if you could get a decent small one - let's say you pay around $175,000 (which for a starter home is pretty good at today's prices)  
 
Let's say you saved your 20% down (take that, CMHC), you've already got 35,000 knocked off that mortgage.  
 
So, your mortgage is left at 140,000. At prime (3.5%) over 25 years you're looking at a monthly payment of $699. A steal right? Well wait ... your property taxes are probably close to $2400/yr. Which is another $200. (which the landlord pays normally in a rental situation). Ok. So you're up to $899/mo.  
 
Hold on. Don't forget to insure your property. Insurance can really vary, so I can't give you much of a number for that depending on your options.  
 
And then the cost of maintenance.  
 
Home ownership is awesome, in my opinion the way to go. You can make the changes you want, you get equity, and eventually growth on your investment. You get to choose if you get a pet, etc etc etc. But you're also not able to live with a fixed price like you can on rental, so it's not for everyone.  
 
But people expecting to get places for like $600 a month for a really nice place are way out to lunch. Chances are, if a landlord is charging you $1000 on a newer place, they aren't walking home with much in their pockets. Except the equity of course - but remember they're on the hook when the hot water tank blows up or the furnace quits etc, and they need to have a nest egg set aside for that. Oh, and the lovely present that is bad tenants. Luckily, most are good - but when they're not - that's a very expensive thing as well.  
 
Anyhow, not knowing what you're renting, it's hard to say. But I think a lot of people who haven't truly sat down to crunch the numbers don't realize what home ownership costs the guy who owns the place.  
 
My 2c.