Quote:
Originally Posted by 320icar
Timpo was 100% right. My parents were not home owners. None of my family was. And now finally in my mid 20's my gf and I bring in about ~110k gross. But with no downpayment and the housing market to continue infating at a stupid rate, I still think ill be a renter for ever. I can't afford to rent and high prices AND save enough (fast enough) at the same time
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Try to be a little open minded and don't put your GF down for asking the banks.
In fact, I think she has more of a level head than you.
$110K combined income. I am guessing around $6K take home per month.
You should easily be able to be pre-aproved for a $500K mortgage as long as you 2 don't have any debts.
That is about $2500 per month for mortgage payments over 25 years at 4%.
Not sure what areas you *have* to live in but moving out to Port Moody/PoCo opens up a lot of options for you to buy a decently sized town house.
There are still affordable options out there if you are willing to settle.
Take a look at what your needs are and how much you are paying per month in rent.