I donât know! If I did, and there was some secret I would definitely share it here. I see some young people either getting money from parents, or the money is coming from overseas. But frequently I see young couples purchase an $800K plus home, in Vancouver or Richmond, and they are only in their early 30âs. I have no idea how they can afford it. I often wonder if they are just completely maxed out on credit.
Gone are the days where a young couple could purchase a home in Vancouver and expect to stay in it to raise their family. (My parents owned a home in the Dunbar area for 30 years!) My advice to young people today is to start early, purchase something small, build your equity and expect to trade up.
You will probably have teenagers before you are in the long-term home of your dreams, but thatâs ok because they will, in all likelihood, live at home until they are 30, so you will still be able to get good long-term use of that dream home!
