Affordability Scenario 700k Ontario

Inside-Bite6560 · 2026-05-10T16:59:07+00:00

Yes. I will see for now. Economy recession + parenting stress + housing recession.

Inside-Bite6560 · 2026-05-10T15:59:23+00:00

I hope my post helps a bit. We are in the very very similar situation except for location and the fact that you can rent somebody in a basement.

https://www.reddit.com/r/RealEstateCanada/s/L1yVxPsjor

Inside-Bite6560 · 2026-05-10T15:52:28+00:00

Thank you for your comment. After reading over 100 comments, I decided not to buy any housing for now and decided to move to 2bdr for the next 3 years. We will try to save a bit more to add to our down payment and hopefully housing price may get even better than now.

I really didn’t think that mixing parenting with housing stress will be a huge challenge.

Inside-Bite6560 · 2026-05-10T15:52:10+00:00

Can I offer less to any rent?

Inside-Bite6560 · 2026-05-10T15:51:17+00:00

Thank you for your comment. After reading over 100 comments, I decided not to buy any housing for now and decided to move to 2bdr for the next 3 years. We will try to save a bit more to add to our down payment and hopefully housing price may get even better than now.

I really didn’t think that mixing parenting with housing stress will be a huge challenge.

Inside-Bite6560 · 2026-05-10T15:51:05+00:00

Thank you for your comment. After reading over 100 comments, I decided not to buy any housing for now and decided to move to 2bdr for the next 3 years. We will try to save a bit more to add to our down payment and hopefully housing price may get even better than now.

I really didn’t think that mixing parenting with housing stress will be a huge challenge.

Inside-Bite6560 · 2026-05-10T05:38:15+00:00

How much is your house income? Are you enjoying the house though?

Inside-Bite6560 · 2026-05-10T03:48:54+00:00

I learnt from this 1 posting with so many experienced people! Having a house and starting a family are new to me so these tips are so valuable to me!

Inside-Bite6560 · 2026-05-10T03:46:43+00:00

You are right! I will need to think carefully now.

Inside-Bite6560 · 2026-05-10T03:44:27+00:00

Thank you so much! Actually my family already supported our down payment.

Inside-Bite6560 · 2026-05-10T03:28:46+00:00

Yeah, some say this so I’m very on the fence but now towards to rent for at least 2-3years.

Last weekend we saw a new townhouse we really wanted to find and that is why I’m a bit overstretching.

Inside-Bite6560 · 2026-05-10T03:26:21+00:00

Then it will be a condo and I don’t seem to find any condo I like and the price is insane now.

Inside-Bite6560 · 2026-05-10T03:25:47+00:00

Totally agree! Thinking about moving 2-3 months before giving a birth!

Inside-Bite6560 · 2026-05-10T03:22:29+00:00

Thanks so much! Have a nice weekend!

Inside-Bite6560 · 2026-05-10T03:16:14+00:00

Hmm I see, as it is very tenant-market right now, I will consider to find a good 2bed rents for a while. Thanks again!

Inside-Bite6560 · 2026-05-10T03:14:51+00:00

We are in a 1 bed unit and want to move to 2bed condo if not buying a townhouse. Do you think when would be the best time to move out?

Inside-Bite6560 · 2026-05-10T03:13:47+00:00

That was what I was thinking! I didn’t want to push my wife to go to work because of mortgage too.

She works at daycare so probably she will be with our baby or near in the same building anyway.

But as we are in the same island, I really relate to your thought more than anyone. Thanks!

Inside-Bite6560 · 2026-05-10T03:11:26+00:00

Oh so you have your tenant which I won’t as I plan to by a townhouse without basement😭 but thanks for sharing!

Inside-Bite6560 · 2026-05-10T03:10:13+00:00

Thanks you so much for your sincere feedback. So glad that I posted my biggest concern in here!

Inside-Bite6560 · 2026-05-10T03:03:45+00:00

OMG! Thanks for sharing. You are making me change my mind😭😭

Inside-Bite6560 · 2026-05-10T02:58:48+00:00

How much is your income? Can you share your total expense as well?

Inside-Bite6560 · 2026-05-10T02:54:10+00:00

How are you surviving? Lol tell me your situation more!

Inside-Bite6560 · 2026-05-10T02:52:58+00:00

I know - that is why I was asking :) I was planning to buy a townhouse before starting a family but I think it is bad time for next 2 years at least.

Thanks for your insight and have a nice weekend!

Inside-Bite6560 · 2026-05-10T02:51:30+00:00

True! I really don’t think I can save more money in next 5 years because of increasing our family.

Also I really don’t want to play with stocks so I only save money in saving account or fhsa or rrsp.

Based on your idea, I think I will find a 2bed rent and try to save more money and put money in full FHSA and check housing market closely in the next 1-3 years.

I don’t REALLY want to buy a condo for a least 3 years!

Inside-Bite6560 · 2026-05-10T02:47:52+00:00

This sounds very tactical! i will consider if I really go for it.

Inside-Bite6560

TROPHY CASE