Quote:
Originally Posted by jackmeister
Some people have told me to rent first and then figure it out later. But at the same time, when I look at places to rent I just can't justify paying that kind of money for someone else's mortgage.
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And at your age and current income you shouldn't be justifying buying a rediculously overpriced home that you don't need. Buy a smaller place on a lower floor, throw the extra money you would have ben paying straight into the principal, and you're set. Like Chuck, I know. I just did the same thing. When my broker pre-qualified me I was told $300k. I bought a place for practically half that and my total montly expenses are in the $800 range including utilities, strata, property tax, and mortgage. Every year I'll just dump all the money I saved up right into it and I'll be mortgage free in no time. And just incase the shit hits the fan I'll still be able to sleep at night knowing that I'm paying less to own a place than other people pay for rent on lesser homes.
