Purchase of your own house. Is it just me, or does it sound crazy? It was a normal stage in the lives of many North American people. Today it seems that a great luxury for most people
I genuinely feel that I would never have had a place in my own place a few years ago. And as far as I know, the price of housing has been generally worse since then. It's a bubble in Toronto, though
However, one of my friends recently gave me some hope in this area when I was in his new house for a housewarming party. Incredible, I know! I was so shocked that I thought I should question him to see how he did it, and what he had to say to help someone else pull out the same miracle. To be honest, I am glad that I did this interview, because he not only gave me useful advice for my own financial future-he also helped me to see that ownership of the house is not necessarily the same as it used to be. In general, I found a lot of significance in what he said. And I want to share my thoughts with all of you. Let' s learn together!
I'm a 23-year-old Indian. I'm an engineering consultant at a nuclear power company
It's always been one of the things on my list of things to get. Given the crazy market, I've always wondered if I could ever afford to own my own house. But a lot of different factors led me to get to a place where I could afford a place. In the end, this is not what I would call my biggest goal in life, but it is certainly a solid step in the right direction
I'd say I'm very lucky to get this point; in fact, I have a whole group of stars that combine luck and hard work. This is my life story:
In 7th grade, I started working online
In my 2 year university, I used all my experience with Ellance and good grades (I worked my ass) to do a study with one of my professors. I used a relationship that I've been dealing with to do an international internship in the United States for a semester. Through my experience, research, internships and good grades, I was able to complete my first internship in Ontario Power Generation (OPG) in the summer of the third year of university studies. Then I joined the experience of OPG, research, international training and good grades to conduct another internship in Toronto within one year of my term in OPG
I found out my girlfriend was going to Albert for an internship for a year, so I decided to apply for a job in Alberta at whim. I managed to land one at the "Husky Energy" in the city about five hours away from my girlfriend. My manager told me that I got this job almost exclusively because of my grades, as well as the OPG internship. This internship was also much more profitable (about 2x) than in Toronto
About four months on an internship "Husky Energy" I received a proposal from Suncor Energy for an eight-year internship in the same city as my girlfriend, with much better pay than an internship "Husky Energy". It was a brainiac to carve my 12-month internship at "Husband" to go to Suncor Energy. In this case, the internship at Suncor is almost entirely based on my assessments, as well as on two previous internships. I've been driving the Earth's years of experience at the Electronic Bicycle manufacturer in the Big Toronto, where I could work in the last year of school. This is based entirely on my grades
The combination of all these activities and my assessments led me to the fact that I received my constant work after the work of the consulting company in the field of nuclear energy. In this work, I have been able to take on a great job and receive fair remuneration for this work (e.g. overtime). Over the past year and a half, I've worked over 700 hours of overtime, which led me to raise enough capital to buy my own apartment. In some cases this meant working up to 70 hours a week! But I'm enjoying the work I did, so everything was fine
My biggest mistake is that I signed the agreement. I had about 120 days before my end, and I totally overlooked the fact that I could cancel any of my RRSP's contribution to it
I made another mistake during the process of buying a house that I'm sure other people did, too. Before signing the agreement for this condo, I was in a hurry with the agreement to buy the house of the flat that would have been completed later this year. I got the woods from a real-estate agent who sold this property, and she, in fact, convinced me that it was a good deal. Fortunately, I came to my own very fast, and I was able to turn my back on the lawyer's period. But I signed the agreement, not to think about it too much
In fact, I was in a hurry with this agreement, and if I couldn't turn it off. For example, if I did not have a period of attorney's review, which sometimes refused "motivated" shoppers on the hot market, then I would be sorry for my purchase very much
For me, the greatest satisfaction is that I now own an asset that has greater resilience to the market and economic conditions. In the long term, real estate in such areas as Toronto will become more valuable as the population density increases
Apart from the financial aspect, he lives well on the subway line, but should not cope with the congestion (and tiny size) of the living city
As the biggest lesson, I'd like to take my time. Find a place you're fully satisfied with. If you want to find a location, find the ideal location. If you need a size, find the perfect size. And if you want some of that and that, that's also possible. In no hurry, without looking at alternatives, otherwise you will most likely regret that one way or another. Not just buying real estate to get into the market. The real estate agents will try to put pressure on you to find an agent who is willing to work with you and to give you advantages and disadvantages of various places. Being a patient, building your capital and going to the place you really want is the best way to do it (not that I'm an expert or anything else)
There are ups and downs in the market. There will always be supply and demand. Just as in the stock market, if everybody talks about buying, then maybe it's better to sit on the sidelines and wait for something to slow down. Over the past few years, everyone has said that home prices have soared and will never remain, but they have been cold in the past few months. There will always be opportunities in any type of market
Do not give up in fear of absence or fear in general. In my opinion, the owner of the house is not all the goals that have been used in previous generations. The world is changing, and our generation and future generations will change with it. 20 to 30 years ago, the standard was to buy an isolated house. No one thinks the buy is a good idea. This is a very big idea for those who like to live in the underground or in the center, not to worry about maintenance, etc
In my view, the current market environment is not a good place for present and future generations. Housing prices (in Toronto/Vancouver) are well ahead of wages, and it is almost impossible for most graduates to own property in these cities, given the average salary of new graduates. The position of the Government, which is being implemented this year, is a good start to work to correct this problem. Interest rates go up, making the market less submerged, but this alone cannot solve the problem unless real estate is put in place
From what I see, there are many new high elevated prices that can create thousands of people. When these properties begin to come to the market in the coming years, combined with higher interest rates, as well as wage increases (hopefully) between now and then, I think we will start seeing a healthier real estate market
This is very frustrating now to see that the younger generation school ends every penny (and more) to enter the housing market (not by its own fault), but perhaps with a combination of good regulation and free market forces, that will change
That sounds like a good achievement. He lives perfectly on the subway line and cuts my way to work in half. I think I'm lucky, but after all, possession of property is not the ultimate goal of my life ... in the next thing!
On the other hand, I see my mortgage disappearing from my bank every week
The key must always be a minimum target. Optional costs can be sacrificed while I meet my goal of saving. This section provides a brief overview of the budget strategy. I strongly recommend reading subreddit
I think it would be easier to afford a place as time, but the best way to guarantee that is to work your ass off. School work and good grades. It is convenient to use these estimates to get a good internship (start a study with a professor, or something easily with a very low barrier at the entrance). Use these traineesy to do the work after graduation. Work your ass at work and make as much money as possible and then buy a place. If this is the ultimate goal, then you live well in your life. If you have any other goals, you can work with them until you reach them
However, I wish to emphasize that no one should emphasize the question of the purchase of a house from the university. What's more important is to do what you want and find what you want to do in your life. Most people don't know what they want to do with their lives. There's nothing to be done about it
For a number of years, you can do whatever you need. You can pursue your dreams and hopes. If you want to travel, then travel. If you want to experiment with a book entry or start a blog or start a business, it's a good time for you to do it. Do it before you commit to the authority of the house, marriage, parenthood, etc. Personally, I started working at my company. I immediately realized that this is what I wanted to do-technical work that was complex, pleasant and useful
I finally bought the apartment because she thought it was right. I wasn't really stressed out about buying a place, and I wasn't under pressure. I was completely saved. And I've done things like business trips and experimenting with e-commerce. All the cool stuff I've always wanted to buy and ride motorcycles, I did. I took advantage of the fact that I didn' t have an obligation. This is probably the most important thing, since you will never enjoy life just as you did in the first few years after you left the school system
Buy a place when he feels free and right. There is nothing wrong with renting and savings from leasing and throwing it into investments, and also to make money in this way (there are tons of comparisons on the Internet). The home directory is just one way to many. And if what you want is to buy property in five years, then the plan and the measurements. But don't forget to take some of the other things you like
In general, if there is no absolute necessity (for example, a school in your city does not have a program that you want, or you go to school as Waterloo, for your fantastic programme of cooperation-see my first item on internships), there is no profit from the house for the university. Personally, I stayed home at the university and was able to complete the study for four years of engineering education (after scholarships and scholarships), could spend a semester abroad and for some time in China, all of which were paid almost entirely by the grant (so I still got the experience of living, but no value), and finished without student debt. It wouldn't be possible if I decided to go to another town or live in a university
Okay, you got it! A man full of wisdom and experience shares his personal path to a certain degree of personal success. He told me that he did not want to brag, to brag about it, or to do it as if he had found some true or true path. He was just trying to make his story clear and honestly, as far as possible. I'd say he succeeded. What I don't see here is bragging. Instead, I see that the real success is based on what he says the work of one of them is aimed at achieving one goal
Are you inspired by this reading? I know I was. It made me take into account all the time I spent on non-main and entertainment programs. I've seen the areas where I could, of course, spend time working to achieve my goals. I hope you were also inspired to try a little more. To make it a little more difficult and to work a little smarter towards the goals that are really important to you. Unfortunately, a few years ago, someone could have gotten what he had, not working almost as hard. And I would agree with someone who was reading this, and I feel frustration with the degree of effort needed to achieve this goal in 2018. The market in most major cities has gone crazy right now, especially in Toronto
For most of us, homeownership is even greater than for generations. Capitalism is thriving, causing trouble everywhere. I get it. I'm disappointed, too. However, it is a story that should remind us that everything is possible if you are ready to work. I know it sounds like a third grade cliche, but it's true. A case that we do not hear often enough at school is an important part of the effort. Human beings can be literally any exploits, given enough time and effort. This makes some things impossible for the average human life, but beyond these true fantasies, your goals are achievable
You can get what you want. You just need to sit down, do your research, get the information you need, draw up a plan ... and then work on your ass and learn the lessons from your failures until you succeed. You can do it! Be strong, my friends
* Views expressed in respect of the author, and not necessarily for the "Student life" or their partners
An active writer, musician, visual artist, and a sound designer. I was born in my spare time. Self-training, self-starting