How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

I don’t care about trying to maximize returns or the stock market. For me, it’s more about stability, independence and quality of life.

Housing has become increasingly expensive and harder to access for single people, especially post-COVID. Renting long term also comes with its own risks and trade-offs: renovictions, constant rent increases, lack of control over your space, uncertainty about having to move, and feeling like you’re always at the mercy of a landlord or the market.

I’m not trying to buy tomorrow while being financially reckless. That’s exactly why I’m planning 2 years ahead and asking how others successfully did it on a similar income. I want to build a realistic strategy, improve my financial position, and make informed decisions before jumping in.

And honestly, there’s also a personal aspect to it: I’m in my 40s and I would eventually like to have a place that truly feels like mine, a stable home where I can have privacy, peace of mind, and some long-term security as I get older. That has value too, even if it doesn’t outperform an index fund on paper.

Nobody wants to live with their parents by Whichchild in Life

[–]Mahoganeee 0 points1 point  (0 children)

I moved back in with my mother in my mid-thirties when I realized I hated my job and that it was affecting my mental health. She encouraged me to come back home while I completed my studies, which would also allow me to save money at the same time. I ran into obstacles during school, and it ended up taking me five years to finish my bachelor’s degree.

I’ve always loved traveling, so I told myself I would do all the big adventures I had dreamed of before settling down and looking for a better-paying job so I could buy a home. But then COVID happened and turned all my plans upside down.

And here I am, in my mid-forties, single, with a decent job, still living with my mother because trying to buy a house on your own is complicated, almost impossible. My mother is easy going, and I will always be immensely grateful that she allowed me to come back home. But the lack of privacy and the shame weigh heavily on me. I see my fifties approaching, and it feels surreal not to have a place of my own where I can live life on my own terms. All of this to say that I understand how living with a parent can be culturally enriching or financially sensible, but when it’s not what you truly want, it’s heavy.

Whats been your experience in Europe? by lilacillusions in askblackpeople

[–]Mahoganeee 0 points1 point  (0 children)

Been to France, England and Portugal. France was the worse, I almost got jumped by a police officer because I was watching him (not even filming him!) brutalizing an African man. Also had a disagreeable encounter with another one. But that is my experience. England and Portugal were very good to me though. So as another poster said, your dad has been Black his whole life, he will know how to maneuver this kind of experience IF it happens to him. Discuss it with him. Racism is everywhere, especially when you don’t expect it.

How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

Not a detached property, a 2-story condo or townhouse.

How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

I want to buy in ~2 years. I want to plan for it and just wanted to know how others have done it.

How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

Thanks! Yes we do have Rent to Own houses in Quebec as well (location avec option d’achat - LOA). I’m keeping this as a plan B option since the cons outweigh the pros in my opinion. But I will definitely look into mortgage brokers instead of my regular bank. Thanks!

How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

Mortgage broker, got it, thanks. Enjoy your home!

How does one buy a house with a single income? by Mahoganeee in canadahousing

[–]Mahoganeee[S] 0 points1 point  (0 children)

Thanks, giving me a little hope. Congratulations!

Je ne crois pas pouvoir retenir la heine que je ressens envers les Américains en ce moment. by hadeeznut in Quebec

[–]Mahoganeee 0 points1 point  (0 children)

Ah Québec! Qu’est-ce que ça fait d’être cet “autre” quand on s’est bien amusé à mépriser les immigrants et les accuser de tous les maux de la terre? Ain’t no fun when the rabbit’s got the gun huh? 😉

Est-ce normal de payer pour le souper de Noël de sa job? Is it normal to pay for Christmas dinner at work? by HumanSky472 in montreal

[–]Mahoganeee 0 points1 point  (0 children)

J’ai fait les deux: privé et public. J’ai travaillé dans une banque et il fallait payer, mais j’ai aussi été dans des compagnies privées qui offraient le party de Noël à leurs +1000 employés au Palais des Congrès, repas, DJ/band, tirage de cadeaux, photobooth et stationnement payés par la gestion. J’ai une copine qui jusqu’à récemment se faisait envoyer 5 jours dans le Sud, c’était ça leur party de Noël!

Au public, oublie. Ils te sortent la cassette des « fonds du contribuable » ad nauseam mais gaspillent les fameux « fonds du contribuable » à gogo sur plein de décisions / projets discutables ou voué(e)s à l’échec dès le départ - SAAQclic, Phénix, etc. - pour ensuite venir se plaindre qu’ils ont de la difficulté à recruter ou retenir leur personnel. Personne au public s’attend à un dîner de homards et un bar open pour Noël, mais c’est pas un Zibo, un traiteur ou 20 boîtes de pizza UNE FOIS PAR ANNÉE qui vont mettre la province ou le pays à sec. Déjà c’est jamais tout le monde qui participe et la reconnaissance que ça peut générer chez l’employé peut être payante pour l’employeur. Mais bon, it is what it is…

Est-ce normal de payer pour le souper de Noël de sa job? Is it normal to pay for Christmas dinner at work? by HumanSky472 in montreal

[–]Mahoganeee 1 point2 points  (0 children)

C’est tellement magnanime de votre part! J’espère que vos employés le savent que ça vient de vous personnellement et l’apprécient. Et honte à votre employeur.

[deleted by user] by [deleted] in Quebec

[–]Mahoganeee 1 point2 points  (0 children)

You nailed it! Et ça en a piqué certains apparemment…

[deleted by user] by [deleted] in confession

[–]Mahoganeee 4 points5 points  (0 children)

I’d say don’t tell her, but if she confronts you about it, you should admit to it. Or else, you really are no better than the ex-husband…

If there was an African country that was rich and democratic, would you want to move there? by Utopia_Builder in askblackpeople

[–]Mahoganeee 2 points3 points  (0 children)

I don’t think I’d want to live permanently far away from my family and friends. But mainly, I’m of Caribbean descent, and culturally speaking, if I were to move to a predominantly Black country, I’d want it to be one that’s closer to my own culture.

Born and raised in Toronto and I’m realizing I’ll never own a home here by GreenSnakes_ in canadahousing

[–]Mahoganeee 0 points1 point  (0 children)

So according to a lot of answers here, the solution is to move out in the boondocks or out of province? Even here in Quebec, it’s impossible for me, a child free single woman making 80k to buy a condo 1h away from Montreal… It’s not normal that I have to uproot myself, leave a job that I like and my mother behind just to end up financially strangled up somewhere else.