Buy What You Can Afford–But Buy!
Never before has it been more important for you to own your own Home. First time buyers, ask your parents to help you invest in your family’s future. If you do, you will have something to trade. If you continue to rent then what?
I spoke to a 1st Time Buyer who bought last year in Toronto. He wondered if he had made a mistake. Should he have waited for the prices to drop and raised a bigger down payment by investing in the stock market? My response to that was, “It’s certain that interest rates are going to rise, but who knows if the stock market will do well with your investment?” Especially with today's volatility!
