When I was 26 years old, I had 14,000 stashed away, and just over $25,000 in my RSP account. I didn't know what I really wanted or why I was really working. I had no specific goals except to socialize as much as possible after work. My mother was a well established Realtor at the time and she suggested that I look into investing my money properly instead of wasting it on video games and going out to the bar. I had always been a saver, however I didn't know how I could grow my money except through mutual funds and stocks - and I didn't have the time or the interest to follow the stock market on a daily level. 

 

I finally agreed to look for a one bedroom and den in Collingwood as it was a Vancouver address and close to potential work areas that I often frequented at the times. We started in re-sale properties and I later came to realize that it was not the right area for me. The next week, we went to Brentwood and looked at a few Re-sale properties that didn't resonate well to my expectations. It was not that re-sale was expensive, I probably could have afforded it, however, I was extremely scared and uncomfortable about owning a home and having to pay a mortgage by myself. My job at the time was insecure - going from contract to contract and I had never truly lived on my own paying monthly rent and monthly bills outside my cell phone bill. As soon as I started looking at pre-sales in the area - I felt like this was something that I could do because I could put my money into a future investment and  I could work towards set goals so that I could pay 0ff the remaining balance of the money owed on my home, therefore allowing for a lower more affordable mortgage payment. My mother also told me that when my place was ready that I would be able to make instant equity with the price increase from 2006 to 2008. In that time, the value of my home went from $360,000 to over $400,000. 

 

Before my two bedroom home was completed, there was a 24 month time period where I had a goal to save money and I had a really good reason to work hard to ensure I accomplished this goal. I was excited about living on my own and I felt ready to move forward once the property completed.