I often get this question from parents before they enroll their child in piano lessons.

“Should we purchase a piano or keyboard, which on is better”.

Keyboard – Pros/Cons
(+) If you live in an apartment, a keyboard would be a better idea due to noise restrictions/limitations
(+) It’s easily transportable, you don’t need movers
(+) Weighted keys add to the realism of playing a real piano

(-) A keyboard can be more expensive to start off with.  On top of purchasing the keyboard itself, you will more than likely have to purchase a: bench, sustain pedal, amplifier (if there is no built-in speaker), a keyboard stand and a music stand.
(-) Nothing beats a real piano, especially if you’re planning on doing RCM examinations past grade 5 level

Piano – Pros/Cons
(+) No need to worry about sustain pedals
(+) A bench usually always comes with a piano
(+) Don’t need a keyboard stand or music stand
(+) People give pianos away on a regular basis, (buyer beware)

(-) Pianos are heavy
(-) You will need to hire movers
(-) They can be expensive to fix
(-) They need to be tuned 1-2 times a year

We ended up adding another apartment sized piano to our studio recently.  We found it on Kijiji for FREE.  We ended up being very lucky.  The piano, originally came from a hospital, and was hardly played on. It only cost $230.00 to move it.