Forty Thousand Dollars
I’m saving to buy a house. Maybe not a house exactly, but a townhome or condo. I live in Toronto, though, and that means homes are expensive. Really expensive.
Average price for a single-family home is over $1 million. So while buying an actual house would be great, it can feel impossible, even for someone like me who believes anything I put my mind to is possible.
The end of 2019 is when I really got serious about homeownership. I started doing the math and spoke to some people at the bank. They did a faux pre-approval and basically said I can afford something close to $700,000. Those are condo prices in the city or townhome prices if I’m willing to move a little bit out of the core.