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Old 2012-05-19, 07:32 AM
ChrisCanucks ChrisCanucks is offline
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Join Date: Jun 2011
Posts: 82

Originally Posted by Gino View Post
I'd like to buy a detached house and need some suggestions on which areas to look at. I work in Markham (hwy 7 and warden area) and can't afford a house there. As far as I can tell the closest place where I can afford a house would be Keswick, but I was wondering if anyone might have other suggestions. I'm a single guy, no wife/kids, no debt, currently renting, currently make 65k a year, have about 80k in savings (mostly in stocks and index funds), but would prefer not to use more than half of that as a downpayment, in an attempt to keep a balanced asset allocation rather than having it 100% in real estate. I currently save about 2k a month.

Things that are important to me:
-detached house, ideally new build but would consider something a few years old
-nice quiet low crime area
-reasonably quick commute to work
-double car garage would be highly preferable but I'll settle for a single if I have to

Things that are not important to me:
-proximity to schools
-proximity to any stores, bars, parks, etc
-public transit
-luxury items such as granite, etc

So will I have to move as far as Keswick, or are there homes being built anywhere closer to my office that might be within my capability to buy, perhaps Stouffville?
Continue to rent. As renting is much cheaper than owning and if we have a correction, you would be glad you didn't buy.

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