Is it best to own a first home as an income property or primary residence?

A single saver still living with family, earning steadily and sitting on a decent down payment, asks whether a first house in Ontario is better owned to live in or to rent out. It is a smart question, because the two paths are taxed and financed quite differently. A principal residence generally shelters future gains from tax and offers a place to live, while an income property can generate rental cash flow but exposes the gain to tax and brings the realities of being a landlord. This piece works through how to weigh those routes, including the financing differences, the tax treatment of each, and the lifestyle trade-offs of staying put versus moving in. It is most relevant to younger, single first-time buyers with savings who are deciding how to make their initial step into real estate, and who want to understand the long-term consequences before they buy.