Would you rent a converted garage for $1000 to live in the big city? : The Saturday Weekend Review #112

WANTED: A PLACE TO CALL HOME   Some people will rent the weirdest places for absurd amounts of money just to live in the big city. There is an allure of being in the midst of the rich and famous, potential career opportunities or to be close to loved ones even if the price-tag is high.   Capture the big city living dream   Not everyone understands the attraction of living in the big city especially if you can’t afford to live in it. For those that do successfully life can be an opportunity that many people could only dream of. If you are looking to buy a house in let’s say a big city like Toronto or Vancouver get ready to pay upwards of a million dollars to live where all the action happens. The fun doesn’t stop there because buying a house can be just as challenging as finding the right place to rent. We live in the Greater Toronto Area and I can assure you that houses are NOT cheap to buy. A one bedroom rental can run you upwards of $800 a month to more than a thousand plus. On the low end it’s not the […]

Paying rent: Am I really wasting my money?

Throwing Money Out The Window I don’t think there is a right or wrong answer when it comes to renting and wasting money or purchasing a home but there certainly are pros and cons to both. Why do I choose to pay rent? While the freedom of owning my own home sounds great getting there on my own may not be a reality but I am certainly going to try. I am saving my money right now and enjoying it, though what I am saving for exactly is not set in stone. For the next 10 years I am choosing to continue to pay rent. As a single mother I want to make sure I am fully prepared for all the costs and fees that come with being a homeowner if I do decide to make that choice down the road. I have my mindset that in 10 years, if I am still single, I could be close to or have enough money saved for a reasonable down payment on a  house if desired. While budgeting and saving money regularly and wherever I can I figure I could have a decent down payment saved through investments and other means in […]

Becoming a Single Homeowner – Part 1 “The Plan”

I’ve noticed a trend lately. The usual client that darkens my door is changing. There is a marked increase in Single person – home purchase applicants. And this trend is being led by the ladies. And I’m not the only one noticing this. Single ladies hooking up with homes is coming to a neighbourhood near you. Mr. CBB asked me to share the experiences of the unique requirements of how the Single person approaches purchasing a home. He was very emphatic in ensuring this covers single women, men, and single parents. As there are potential additional risks and vulnerabilities with a single income and/or dependents – I submit this information to you with great respect and full gravity. With this said – I am very excited at what is transpiring here! Making the move from renting to home ownership carries a direct historical correlation to wealth accumulation and an increased net worth. And one thing all of my single clients are in agreement on is having an opportunity to increase their financial position. So with this in mind – here are some simple steps to increase your shot at owning your home. It All Starts With A Budget – And A Plan […]

%d bloggers like this: