We’ve been wanting to buy real estate for a longtime now it’s gone from a highlevel vision, to a longterm goal, to now being an actual tangible goal for us, and this is the year that we start the process!
To give you some background on us, we currently live in downtown Toronto we love it here, we’ve been renting and living in the same apartment for the past five and half years, and we would happily stay in Toronto for the longterm if it was affordable, but it is a very expensive place to live. Now, because we aren’t quite ready to move out of Toronto yet, but we don’t want to spend all of our money trying to buy a place here for us to live in, our plan for now is to start with an investment property that we can buy and rent out; and then eventually use the equity that we build in that home to buy another one for us to live in, in the future.
So, that’s our high level plan that we’re starting out with, but we’re going to be taking you all along on this journey with us, so if and when things change along the way you’ll hear about it.
Download the FirstTime Home Buyer's Guide from True North Mortgage here https://www.truenorthmortgage.ca/step...
0:00 We're buying our first investment property
1:18 The steps we’ve taken so far
2:38 True North Mortgage FirstTime Home Buyers Guide
4:34 Here’s our financial situation
7:05 The mortgage preapproval process
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