With market prices almost everywhere and especially in big cities, having a roof over your head that belongs to you has become a luxury.
Sunday morning, I read an excellent article from Newspaper written by my colleague Karman Kong and entitled: “First-time buyers: how to access property?” and it reminded me that even though I am 27 years old, it is not in the next few years that I will be able to buy a property.
Sandra Allard, an experienced mortgage broker, quoted in the article, advises: “If you start working at 24, stay with your parents as long as possible to raise the necessary down payment.”
If I have to stay with my parents until I’m 30 to afford a condo or a house, well, I’m saying “goodbye” to the idea of being an owner.
Discouraging reality
Karman Kong, the author of the article mentioned above, gives good advice to young people who want to access property and she remains realistic.
By interviewing people in her web community, she found that people with an income of less than $80,000 who are owners either bought before the pandemic, own a condo in the $200,000 range, or have received money from their parents or they have property in a remote area.
$80,000 per year is a lot and few young people I know have that kind of salary.
Unfortunately, it is often difficult for young people to be able to anchor their dream of becoming a homeowner in reality if they do not have financial help from their parents or if they have to live near a metropolis for work, For example.
To grieve
No, I won’t go live with my parents to save money.
No, I will not sacrifice my health to work overtime to reach a salary of $80,000.
So, you have to believe that I will not be the owner.