Finally got pre-approved after saving for 3 years in Toronto

3 comments

3 Comments

Congratulate you so much, that is such a huge milestone after all that saving! I went through this exact same grind in Vancouver a few years back and it was honestly the hardest thing I've ever done, so I totally get the relief you're feeling right now. Three years is a long time to be that disciplined, especially with rent and everything else going up, but you did it. Now the fun part begins with actually trying to find a place, which is its own kind of crazy race against other offers. Just don't get discouraged if you lose the first couple of bidding wars, it's basically a sport out here.

the_hannah25d ago

Take a step back though... is this really that serious? People act like buying a house is the only way to live a good life or whatever, but I know plenty of folks who rent and are totally fine. The whole bidding war thing just seems like a way for real estate agents to jack up their commissions... I dunno. Sometimes I wonder if we all just got brainwashed into thinking this is the big goal when it's really just a giant financial headache waiting to happen.

wendy20525d ago

Wait until you realize this whole saving and bidding thing is just the entry level version of something we all do now. Every step of adult life has turned into this weird competitive race where you're up against people who seem to have more money and patience than you. It's like the housing market infected everything else - jobs, apartments, parking spots, even finding a decent table at a busy restaurant on a Friday night. You spend years grinding just to get a chance to compete, and then you still might lose to someone who wrote a better offer letter or knew a guy.