Hi,
We are saving for our first home here in Vancouver, here's a brief description of our situation
Wife: 29, Government job, makes 75.000k a year (Masters degree accomplished here in Canada, fully paid for)
Me: 28, New career, made 58.000k this year, should make around 65.000 next year (No schooling more than High school and one year university back in South America)
No kids (yet)
I made 25k in 2015, that's why I decided to change careers and I am quite pleased with the results, but I expect to keep making more, people in my position can make around 80k.
We saved 16.000 in 2016, taking into considerations the expenses we had (I bought a couple suits for work and personal use, we got a new car and had a small vacation trip to Hawaii) among other things, I don't think is great, but better than before (always in debt). We enjoy life, dine out couple times a week, movies, small trips and have fun in general, I think we have to enjoy life, but always within reason and in a budget.
We now are thinking of buying our first home. We both work in Downtown Vancouver. Currently renting in Coquitlam(1 hour drive to work) a tiny 2br 1 washroom suite for 1.100 /month, it's not very comfortable, basically does not have a living room.... we can live like this for one more year but I think much longer. I don't think we are quite capable of buying anything anywhere near DT Vancouver. We want 2br 2 washrooms (thinking about having kids), we want something newer and more than 800sqft, the only place that seems to have something like that is here in Coquitlam, we would not move anywhere further away from the city, wife refuses to consider Surrey (cheaper area, but it seems like its not as safe).
Our goal is to save around 20-25k next year. Would you consider buying in our situation? of course we are also scared of the bubble, if it ever bursts and we are in it, it would be a big hit.
Sorry for the grammar and thansk for reading!!
We are saving for our first home here in Vancouver, here's a brief description of our situation
Wife: 29, Government job, makes 75.000k a year (Masters degree accomplished here in Canada, fully paid for)
Me: 28, New career, made 58.000k this year, should make around 65.000 next year (No schooling more than High school and one year university back in South America)
No kids (yet)
I made 25k in 2015, that's why I decided to change careers and I am quite pleased with the results, but I expect to keep making more, people in my position can make around 80k.
We saved 16.000 in 2016, taking into considerations the expenses we had (I bought a couple suits for work and personal use, we got a new car and had a small vacation trip to Hawaii) among other things, I don't think is great, but better than before (always in debt). We enjoy life, dine out couple times a week, movies, small trips and have fun in general, I think we have to enjoy life, but always within reason and in a budget.
We now are thinking of buying our first home. We both work in Downtown Vancouver. Currently renting in Coquitlam(1 hour drive to work) a tiny 2br 1 washroom suite for 1.100 /month, it's not very comfortable, basically does not have a living room.... we can live like this for one more year but I think much longer. I don't think we are quite capable of buying anything anywhere near DT Vancouver. We want 2br 2 washrooms (thinking about having kids), we want something newer and more than 800sqft, the only place that seems to have something like that is here in Coquitlam, we would not move anywhere further away from the city, wife refuses to consider Surrey (cheaper area, but it seems like its not as safe).
Our goal is to save around 20-25k next year. Would you consider buying in our situation? of course we are also scared of the bubble, if it ever bursts and we are in it, it would be a big hit.
Sorry for the grammar and thansk for reading!!