Living in Toronto... interest rates at an all-time low for a long time, semi-detatched and detached houses hard to come by, real estate inflated and overpriced, "bubble" is becoming more and more realistic... Vancouver is shambles. Market is crazy hot! But eager to leave home and start fully embracing the challenges and growth associated with being fully independent and responsible... no debt, in a long-term relationship... mid 20's with marriage in the near future, making good income (100k+ combined) but still in our mom's basements, living apart still after 5 years of dating (very frugally and no issues continuing to be frugal), unsure about waiting out the real estate storm...
When do you draw the line between "stay at home and save" and "leave the nest, learn to fly and start your life" when the real estate market is on FIRE? Buying a home is still the ultimate goal, but not if it means a $600k mortgage in this inflated market... Thoughts on renting if your income allows you to save a good amount for a future home while renting? Sure savings grow faster when you're living at home than they would if you're dropping $1700/month for an apartment, but there's something to be said about independence and truly being a self-sustaining adult in your mid-20's...
Second-guessing everything before taking the next big step in life! Advice and tips for the millennials who are watching the real estate market go crazy in the GTA?
When do you draw the line between "stay at home and save" and "leave the nest, learn to fly and start your life" when the real estate market is on FIRE? Buying a home is still the ultimate goal, but not if it means a $600k mortgage in this inflated market... Thoughts on renting if your income allows you to save a good amount for a future home while renting? Sure savings grow faster when you're living at home than they would if you're dropping $1700/month for an apartment, but there's something to be said about independence and truly being a self-sustaining adult in your mid-20's...
Second-guessing everything before taking the next big step in life! Advice and tips for the millennials who are watching the real estate market go crazy in the GTA?