Gen Z are feeling pressure to buy a first home as housing becomes more accessible in some areas

​Many people in Gen Z are feeling pressure to buy a first home as housing becomes more accessible in some areas. However, rushing into such a major financial decision, which for many will only happen once, could lead to long-term financial regret.

Before moving quickly into a purchase, it’s worth thinking through a few key points:

✔️ How much are you comfortable spending on a new home?

✔️ What will your upfront closing costs be?

✔️ What are your total monthly mortgage payments likely to be?

✔️ How much property tax will you need to pay each year?

Renting for a while longer can also be a sensible option, giving you time to build savings and strengthen your financial position before committing to a property purchase.

Read more in this article: https://heyor.ca/XutGBn

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