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Just to add to all of this. I just purchased a place in the ghetto for $98,000 and I will probably spend about $15,000 on the inside to reno it doing a lot of the work myself and having friends who are contractors doing the tricky bits.
700 sq/ft ground floor and I couldn't be happier.
Is the place awesome? Well, it's an old building that looks like shit and it's in the better area of Surrey which is like saying you got fucked up the ass by someone with a small dick rather than a big one.
The point is, it's up to you what you're comfortable with. My mortgage works out to about $390 a month including utilities, maintenance and taxes.
Considering my income, I'm way out in left field. Hell, I might even be out of the stadium completely but life is so stressful and living modestly is really fun. I'm not suggesting you do the same but there is no rush to buy a bunch of stuff. Just relax. If you lose your job and you have a $2000 a month mortgage, guess what? Employment Insurance is not going to help you and the stress is out of control.
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