Quote:
Originally Posted by josayeee
Sounds reasonable if you ask me. Assuming your making 45k-55k a year.
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Ok, assuming a cadet takes home 4k a month,
1000 rent/hydro/cable/internet
500 in food
500 in entertainment, dates, cel phone
100 in bus pass
400 in other misc expenses+savings for 1 vacation per year
Assuming 1500 could be put away every month, how long would it take to afford a down payment on a downtown condo, then, how much would that condo need to appreciate to afford a detached laneway home in 10-15 years when that 20 year old cadet wants to get married + have kids?
Assuming the wife has no $$$ to add to the downpayment of the laneway home
Also, we need to factor that in 15 years, how much will a laneway home be? Or a house in East Vancouver, will they START at 1 million? How much will a police officer's wage go up?