Thread: Does it make sense to buy a house when you're still single?

Quote: Originally Posted by BRAISKI Very interesting point! I think I would feel wired or greedy if I do ask her for say $75k for marrying me because I already paid parts of the house lol. If she is open minded then thats fine if not she would freak out! lol Well any normal person IMO would offer to help pay down the money or ask the spouse what they should do with her money. If she's like "Oh I was going to keep it in my...

Quote: Originally Posted by 709394 Since when was the requirement somebody has to be in a relationship or seeing someone in order to buy a house. I mean, if you have the money and want to be independent then by all means go for it. Uhhh, I don't think this thread defines "single" in the Facebook sense (i.e. not currently dating anyone). I think they're defining single in the income tax sense. i.e. not living with...

Quote: Originally Posted by randomthoughts Hmm. Drawbacks? I don't think you can 'waste' your HBP. You should have at least a $25k downpayment before buying. And you should have it in the RRSP so that you can also use the refund for downpayment. If you don't have that contribution room yet, you can consider waiting till you have it. Your obligations will vary depending on what you buy and how much of a downpayment you...

Quote: Originally Posted by pitz Would you still consider it to have been a good move if Canada followed in the footsteps of the rest of the industrialized world, and saw a 50-60% reduction in prices? As long as you continue to live in the house and plan to for a long time it really makes no difference whatsoever what the external market is doing.

Quote: Originally Posted by VivienM What does this mean? From what I can tell, that anybody potentially affected by this should ask a lawyer who knows this area. When dealing with an asset worth hundreds of thousands of dollars, I think that's advice everyone can agree on

Quote: Originally Posted by high_octane I could easily pay my house bills with that salary but I don't live in TO. Are teacher salaries adjusted at all for location? PS FFVIII was the best FFVIII was the best and long live squall! Teacher salaries vary mostly province to province and slightly board to board. More difference between provinces. I guess for TO a teacher's salary is pushing it. Hence, the move to suburbia

Quote: Originally Posted by speedyforme But that's not the OP question. Anyone who buys a house should realize RE risk but that's not the question or issue. I wasn't responding to the OP question, I was responding to the posts arguing for a particular side and pointed out they were making implicit assumptions about RE as a part of their argument.

Quote: Originally Posted by Jucius Maximus (PM me if you want to know why I think houses are better than condos.) Just post the reasons here. I personally wouldn't buy a condo because I think they combine all the worst qualities of houses and apartments, but people seem to love them these days.

In order for us to come to an adequate conclusion, we would need more information from the OP. With specifics and given individual realities, possible proposals can be discussed and decided what is best for him/her.

Quote: Originally Posted by GSRee Isn't it? I thought it worked like this: - OP brings $300k home into marriage - OP and wife divorce while home is worth $350k - Wife gets half of the $50k increase, not half of the $350k value So it's not quite as simple as latin-dss said, but he wasn't far off. http://www.nelligan.ca/e/pdf/Dividin...separation.pdf Quote: The Ontario Family Law Act stipulates that, when a marriage ends, the...