A Note To My Younger Twenty-Something Self
I know you think that prices can’t get much higher and you don’t want to think about what life might be like for you 20 years from now but trust me, real estate prices will become more expensive. I know you think that some areas of the city aren’t great but trust me, 20 years from now everyone will want to be in this neighbourhood.
In my 20’s, I went to see a new condo/loft conversion in the Queen & Shaw area. My friend and I marveled at the location and I thought, “Who in the world wants to live out here?” Well, you know how that went. Queen & Shaw is the corner of hip and cool and it’s home to some of the city’s best restaurants.
For twenty and thirty-somethings today, it’s worth it to scrounge up every penny that you have to make this real estate purchase now so that your future is protected. Even if it means buying a smaller place now because that’s all you can afford. Trust me, getting into the real estate market early will help catapult your financial future and be far ahead of the game. Buy a place now and don’t look back. You will definitely not regret this decision.
For the single women out there, have the confidence to buy a place on your own. A man is not a plan and you don’t need to wait until you’re in a relationship before you take the plunge into real estate.
My biggest regret is that I didn’t get into the real estate market earlier and I didn’t buy more of it when I was younger. I wish I would have done everything possible to buy more real estate. In my 20s, I wish I understood the power of real estate and how much more it would be worth later in my life.
Do I think the real estate market in 10 and 20 years from now will be worth more than it is today? Absolutely!
As a young person, it’s hard to visualize life in your 40’s or 50’s, let alone your retirement age. But the best advice I could give any twenty-something or millennial is to buy as much as you possibly can right now. Stretch yourself beyond where you think it’s possible; buy something, even with a friend if you have to.
Get into the real estate market now so that you can reap the rewards in your 40’s. You absolutely will not regret this. I feel fortunate that I have been in the market for almost 20 years now and I have the same wish for you.
