Been there done that
I am in the older age category now but 25 or so years ago I had the same questions.
I was the average Joe that got transferred to Calgary in the late 70's from WPG and rented for the first few years. I bought a house for next to nothing as I waited for the crash in the 8o's to sort itself out. I was one of the first streets in Lake Sundance at the time.
Hardly any house or streets were even built but ours was and the lake and the time. Trouble was my lifestyle with 2 vehicles, boat and RV just didn't fly with the the smaller lots. Had to make a decision after many tickets and warning to move my toys out of the alley that we need a new house. Well to get a nice new bigger house and a place to park my toys which has got worse since made us look elsewhere. To get bigger house and huge lot was insane so we talked it out and decided to get a decent size house in an older area with big yard for toys and enough room for the 4 kids. 1200 sq ft bungalow did the trick and huge lot to park the toys and have grass, deck etc. to boot.
We thought of a new house a few years ago but with just 2 of us left why bother. House paid for, place to park the toys, yard, deck and with kids gone we still have rooms not used.
Point is as you will get older and things will change. kids will move out and you will have more house than you think.
In laws in their 80's still have 2400 sq. ft. main living plus basement and all she does is complain that the house is too big.
If you are buying for the flip do your thing but don't forgt you may find as the family moves on for 2 the condo or smaller house may work just fine.
Just what we have found........
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