Here's something that's been at the back of my mind for a while.
When is a good time to buy a home? That big leap from renting to owning. Perhaps the largest purchase most people will ever make in their lives. An introduction to huge debt.
Common wisdom seems to be that one should purchase a home the moment they have sustainable employment to afford it. Though I'm not convinced this is the case anymore. Granted the rent money I pay is entirely lost. But I'm also not spending money on mortgage interest, property taxes, and maintaining my home.
Personally, I'm in Canada where the housing market has not collapsed, only plateaued at a high point, I have a single fairly average income, and I currently live in decent comfort in a single bedroom apartment. Talking to the bank, buying something at my current standard of living would be so tight on the budget that I'll live poor, so I'm leaning towards a joint income being a good idea before even thinking about this.
But I don't know. Anyone else done this dance recently?