Why I didn't wait for “the one” to buy a property ( and maybe you shouldn’t either).

Why I?didn't?wait for “the one” to buy a property ( and maybe you shouldn’t either).?I was 25 when I decided to buy new construction. Read below why waiting for "the one" could cost you hundreds of thousands of dollars.

1. Rent,?

2. Find a partner,?

3. Buy a house.?

This is how so many people STILL THINK. ??

In today’s world, this thinking is totally antiquated! Relationships take all different forms and marriage isn’t for everyone.?Im not saying that that your dream SHOULD BE getting married and buying a house but it is the dream of thousands of millennials across the country.?

Waiting for “the one” could cost you hundreds of thousand of dollars.?

Let’s run a couple of hypothetical scenarios…

?Scenario 1:

Say you move to Toronto and join a dating app…while you rent a condo, of course.?

Maybe you kiss a few frogs and find a great prospect.?

After a couple years of dating you decide to take it to the next level and move in together (to your rental).

Maybe things go well and by year 3, you’re engaged! You spend the next two years planning a wedding. THEN you start looking for a house. ???

5 years have passed since you joined that app.?

Scenario 2:

You move to Toronto and join that app but this time you buy a condo. If this was 2014 ( when I moved to Toronto) the Average Condo price in?the 416 region in December 2014 was $387,612.?

Say the relationship progresses on the exact same trajectory. By year 5 when you’re ready to move up to that matrimonial home you have now amassed 5 years of equity. By then the average condo was then worth $656,233, according to TRREB stats?

Nice appreciation, right? Oh and you saved yourself those five years of rent ( with zero appreciation).?

Say your partner did the same and now you have two houses ?? ??. One you can rent out, sell or take equity from.?

THIS is how people afford homes in Toronto. They pay their dues on the property ladder ?? build equity and trade up ??.?

Whilst getting married and buying a home definitely isn’t the dream of everyone, it is the dream of thousands of millennials across this country.?

I encourage everyone to walk the path that is right for them but hopefully this hypothetical allows you to expand your thinking and consider different options that don’t fit the mold.?

Make sure you can afford what ever options you choose and that you weigh the risks and rewards of each.?

*not intended to solicit buyers and sellers currently under contract.