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Sumi Ragu bought his first home at 22-years-old, a near-impossible feat for the average millennial these days.“I didn’t have a work-life balance. I was doing a lot of work and minimal sleep,” he said. “I lost half my hair, like, trying to get a mortgage for this.”After having a child, Amanda and Joseph wanted to expand their living space and have a place to call their own.
Before they got married, she invested in a pre-construction condo in Maple, Ont. The development took about three years to complete and was profitable by the time they sold it. She said this initial investment helped to fund the house they bought.Derek feels lucky he was able to buy a place of his own. Knowing he wanted to buy in Tofino, he kept an open mind to how he would buy a place. Initially, he thought he would buy a house with his friend and split the cost.
“It was just very frustrating being a first-time homebuyer, not being able to lean on my equity from a previous house to buy a second place or a huge line of credit or anything like that. I just felt like it wasn’t fair. Like, I couldn’t really do anything,” she said. “But then I got really lucky.”Article content
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