kkott

There is a lot being said about the housing markets in Toronto and Vancouver. What do you think about Ottawa? As 31 yr old government employee with a defined benefit plan (contributing for 7+ yrs), does it make sense to put my savings into the housing market since I have less of a need for RRSPs?

Thanks for the advice. Would you ever suggest buying with a downpayment less than 20%? Say 10-15%? Can't decide whether to buy now or wait two years till I have the 20% as prices seem to be going higher.

I hear you. I have no debt (painfully paid off the student loans over the past 8 years). I do have an emergency fund in my TFSA (3 months worth, aiming for 6), and the rest is split between RRSP and TFSA earmarked for a downpayment. I'm happy renting for now, but I do want to own a home within the next few years. Just wondering if 10% down is a sound choice.