32M living in Toronto. Should I ditch my roommate and sacrifice savings?
I’m 32M, single, and living in Toronto. I’ve been living with a buddy since 2021 and things have gone well, but I’m starting to feel the need for my own space and also more space.
Current situation:
-$110k salary + bonus (~$15k)
-paying $1850 in rent (includes everything and a parking spot)
-$375k in investments ($235k TFSA, $100k RRSP, $35k FHSA, $2k LIRA, $5K cash)
-no debt, car paid for
Looking at ~$2500 a month for a 1 bed condo in Toronto, plus parking and utilities which would drop my monthly savings to ~$500 per month. I’d still be saving a little but obviously a lot less.
A part of me wants to continue saving but another part just wants to live in my own and not have to deal with stuff with comes with having a roommate.
Anyone made this move? Was the quality of life upgrade worth it or do you wish you stayed longer with a roommate?