Real Estate

Need a reality check - how much can I afford

  • Last Updated:
  • Jun 7th, 2021 4:46 am
Member
Sep 23, 2011
418 posts
559 upvotes
Vaughan
What's the rush? Until you have kids I would rent and invest the savings. I found most of the downside with renting comes after you have kids because you want to be more "grounded" - schools, grandparents, etc. Before kids there are so many opportunities that could come (esp. if you're mid-career). We moved to BC on a whim for a few years and then came back. Were considering Europe, Australia, etc. but BC offer was great.
Deal Addict
User avatar
Nov 30, 2005
1839 posts
1420 upvotes
Ottawa, ON
Because real estate appreciation continues to outpace his ability to save.
Deal Addict
Dec 5, 2009
1623 posts
1891 upvotes
I would also recommend stretching a bit for a 2 bedroom low rise, especially if having a family is already in your plans. Jumping from a 1bd to a 2bd isn’t worth it since transactional fees and taxes will rob you of your equity. Something in the 650k range seems to be easily doable for your current HH income, as others have already broken down the numbers.
Deal Addict
Nov 1, 2015
1096 posts
1247 upvotes
Vancouver, BC
I guess it also depends on what you consider dismal. sub $650k 2 beds that aren't even that small. They might need some work but the space you get would be worth it.

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