My life has been a bit of a rollercoaster when it comes to finding a home. What I once considered home, isn’t really home anymore. At the same time, I could say that it still is and that I have three different homes. It all depends on how you define home. A quick glance at the dictionary would tell us the following:
one’s place of residence
a place of origin
the social unit formed by a family living together
From origin I was born and raised in the Netherlands. All of my family, including my parents, still live there. For twenty years this was my home until I decided to move to Canada. Pretty quickly Orangeville, ON became my home. It’s where, through family friends, I started my life in Canada. Though now, I don’t call them family friends, just family! Currently, I call Toronto home. For the past 3 years I have been living in Toronto. A great city, but here comes the million dollar question: what’s next?
I have my parents and an agent friend telling me that I should buy something to get in to the housing market. Something that I would love to do, but the housing market in Toronto is absurd right now. If something pops up for sale you would have to make an offer that day and the offer should probably be 30K to 50K over asking. At the same time, I struggle with where I would want to live? If I make that kind of an investment I would want to make sure that’s where I want to be for a while! I currently live just a little west of downtown Toronto. Would I want to be a bit more downtown if I would buy something? I don’t want to keep wasting $1700 a month on rent. However, all I could afford in Toronto would be one-bedroom condo’s which on average would go for 400K. At the same time do I want to make this kind of investment or do I want to explore other opportunities?
I love living on my own! However, if I would have a roommate I could probably save an additional $500 per month, which is a lot of money! I could use that money to save for a down payment or use it to go on trips and explore the world! The downfall of this is that I would give up living on my own. Can I go back to having a roommate? How would I even find a roommate now? All my friends are all partnered up, it would likely be with someone I don’t really know. A bit of a scary thought especially if we don’t get along.
Perhaps, there is a way that I can still live on my own and save on rent. I could find a cheaper apartment in the suburbs. This way I am able to still live on my own and save money. However, what would I do in my free time? I am sure I would find something to do but now I would be so far away from downtown Toronto. Do I want to give up downtown and city living?
Then, there is the thought of maybe doing my MBA. An MBA program is pretty much the cost of a down payment if I want to go to a respectable school. Buying something would make me committed! I wouldn’t have any savings and probably have less disposable income to do activities since mortgage, maintenance fees, and taxes would probably be more than my current rent. I think this is one of the reasons why I haven’t bought anything yet. I don’t want to be house poor either!
Lastly, there has always been the thought about moving to California. Not sure how realistic this is since it would be hard to get a green card. At the same time, it doesn’t necessarily have to be California. If the right opportunity would come around I could see myself moving again. This could be within Canada or a new country. I am always open to experiencing new things. At the same time am I just hoping this would happen naturally or should I actively pursue this like I did when I wanted to come to Canada?
So many questions with no answers. I don’t think any direction is right or wrong; they are all different. Home can be anywhere and it is really what you make of it. I just don’t know which home is the most suitable for me.