MMFBT 024 – Time to Get Your Own Place?

You’ve graduated from school, decided the European or Australian travel circuits weren’t for you (perhaps you didn’t properly understand the meaning of YOLO?).  Now what?

Your parents and the world would say not only is it time to get a job – it’s time to act like a Canadian grown up and buy a house as soon as possible.  No one knows exactly why, but there’s a strong inference from elder statesmen (and states-women?) that you aren’t a real adult until you own the roof you sleep under.

In many parts of the world renting for the rest of your life is considered normal – but not here.  It’s been said by a lot of people much smarter than I that North Americans have an unhealthy obsession with homeownership.

The More Money for Beer and Textbooks Podcast
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If that’s true than I should admit to being part of the problem.  I made some sacrifice to buy a home at a young age, and I really enjoy the benefits.  That being said, it certainly isn’t for everyone (as many of you in urban centres can no doubt attest).  So how might you go about deciding what’s best for you?

Buying a house isn’t rocket science, but at the same time it’s the largest purchase most people will make in their lives, so putting a little thought into the financial side of it – in additional to all of the non-financial considerations – is always a good idea.  Justin and I will talk about some of the more common questions about buying a house or condo that young Canadians have.

We also chat about:

  • The classic rent vs buy debate as it appears to young Canadians right now.
  • Should you even want to be a homeowner?
  • If owning a piece of the planet is something you’re into, we’ll give you steps to get there.
  • Why the phrase, “My home is the best investment I ever made,” is frustrating to people that understand how investments work.
  • What the heck is the Homebuyer’s Plan and how might it help me?
  • Should you rent to your buddies?  What might being a landlord look like?

We’re always thankful for anyone that takes the time to pop on over to iTunes to leave a star rating for us, as well as give us a little feedback via the comments section.  Let us know how we’re doing!

See you next week folks.  More Cheers, More Beers, That’s It, That’s All!

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