Quote:
Originally Posted by JiriHrdina
No and that's my mindset - that if I don't buy now, a year from now it'll be even worse.
Basically the decision point I'm at is buy now, or come to terms with the fact that I will be leaving Calgary in the next few years to become a home owner elsewhere.
My main concern right now is that if I do this now, I will leave myself with little to no margin of error. I work in an industry that is highly unstable and I could find myself out of work without much notice (and I realize that job stability is very uncommon now so this is nothing particulary unique) - that concerns me, when I will have to basically take my nest egg down to virtually nothing to make this happen.
If I choose instead to rent for a year, I can add to my savings and then sometime down the road in the next couple of years take that savings and take it to another market where I can get way more house for my buck.
Decisions decisions.
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We found a really nice basement suite for really cheap. We've decided, at least for the time being, to continue being renters. Because of the cheap rent, we've been able to pay down our debts a lot faster than many. We haven't put much at all into savings but focused on reducing debt. Our hope is that as our debt goes down, savings will go up as will my income. At some point we'll be in a position to enter the market... just not for a couple years.