u/No-Ad-6183

What makes the most sense financially?

Entering the market with something you can currently afford (starter home)?

Or continuing to rent, save, invest the difference until we can afford our forever home.

Context:
My spouse and I make $160k combined. We have $130k saved for a downpayment.

I don’t feel comfortable going over a 480k mortgage, meaning what we can afford right now is around a 600k home.

The homes I’m looking at that I want sit around 900k.

With our savings rate + investment return, I think we should be able to afford 900k in around 8 years assuming a salary increase.

The way I see it, is wait 4/5 years, if we are on track to buy our 900k home wait out until we can, if not, then we’ll be in a very comfortable position to snag a home very comfortbally for $600k - $800k.

Thoughts?

Side note: Wish homes weren’t this expensive :(.

Hi all, I struggle with oral communication, have problems with being nervous, stuttering and not being able to form sentences.

I want to get out of my comfort zone and push myself to get better at public speaking.

Does anyone know of any good local courses or groups here in the Ottawa area for such a thing ?