By: Garry Marr | Financial Post | November 19, 2011
Read More, and see what Scott Plaskett says about the current trends in the housing market.
Melissa Yan wondered why she had to wait until she got married to buy a home.
She decided she didn’t. So the 28-year-old, who works in marketing for Magnum Projects, opted to jump into Vancouver’s hot housing market at Christmas in 2010.
She picked up a 600-square-foot, one-bedroom apartment in Vancouver’s trendy Yaletown district in a design that would fit her needs and a price tag that would allow her to enter the market and establish equity so that one day she could get an even bigger house.
“I have always known I had wanted to own, so I made it a priority for myself to put aside money for the past five years,” says Ms. Yan, who was living with family as she saved. “It’s a home, it’s an investment — a bit of both.”
Ms. Yan, who says her work in real estate convinced her she needed to buy, is one of a growing number of 20-somethings who are no longer waiting until they get married to purchase a home for the first time. She is part of a trend that adds an extra stage to the housing market…
