"Forever Home" Now or Later - Save & Invest or Biggest Home Possible?
Purchase $100k-150k more, get the "forever home" but be left with far less money.
We are a 30-something young family where incomes will not change in any foreseeable future. On one-hand, the GTA seems to always be "lucky I got in when I did" scenario. In 10-years time, who knows what the climate will look like but it likely won't be at this price point (will be higher). On the other hand, we have an opportunity in front of us of many years of investing and maybe turning something small into something far greater ... but will this outpace the home in 10-years, who knows?
Data: $30,000 down payment difference
$400-500 a month difference in mortgage
I'd love to hear from those who have done it. Glad you invested or glad you got your 'forever' home when you did?