Thanks for being 100% transparent that the parents helped in one way or another. I don't understand why it's something people are ashamed of. Open acknowledgment of the privileges we grow up with is how we become more understanding of those who don't have those advantages in life.
I feel the same way Jiji. We didn't choose to have privileges, but unwillingness to acknowledge it only makes those without those privileges feel less than, and that's not fair.
First of all, thank you for your transparency and for sharing! People are able to advance more easily when they have more knowledge. I can say this is 100% true. When you get to my age (almost 30) and your white peers are hitting different milestones than you, it is only now that I see the great financial divide! The truth is that having a dual income and no debt gets you places much faster. My peers that are financial ahead graduated college debt free, were given brand new cars upon graduating, married young to someone else who was also debt free and both parent’s paid for their down payment to their first home. And it all happens so fast that it can feel like you're behind when really they had a jumpstart. I want to own a house! I want to be debt-free! I want to come into a marriage adding, not subtracting to our wealth! That's where knowledge comes in! There are resources out there (mutual, index, HSA) that can help get you there. You just have to find a trusted financial counselor to teach you! Best decision I ever made! Any way, congrats, Leitita on your home! And please continue to share financial knowledge to us women!
All those advantages added up, leaves many of us milesssss ahead of our peers. Let alone the career opportunities given to white folk and the easy confidence they have to take up space. What a deeply woven web of white supremacy. As an asian person, the model minority stereotype has benefitted me in some ways as well. I think calling this out is the least we can do to help uplift BIPOC
You are bang on! Thank you for your honesty and integrity. There are so many people on UA-cam etc that make it seem like they have it all and it’s so easy. But it’s all fake. It only serves to make watchers feel inadequate and like they’re doing it wrong or simply not smart enough. Thank you for being authentic! What a breath of fresh air.
Thank you so much Katrina! I think all of us are tired of the facade social media presents. That, along with the housing market, is enough to make anyone feel less than.
Thank you so much for sharing all of this especially the prt about the privilege that comes with the family you grow up in and if you go to uni and come out with debt or not! Nobody is sharing that!!! Love ya xx greets from Berlin
omg this might be waaay too personal to make a video on (and if so totally valid boundaries are v important) but would you ever consider making a vid on being a DINK (dual income no kids)?? or how u and ur partner decided on that? im struggling sooo much about this and would love to hear any bits of your perspective!!
Watching this from our first home out here in MB and let me just say, those Toronto numbers are insane. We are still privileged but working hard to save for a house is actually still kind of possible out here.
New home owner 💪 I bought a house for myself summer 2021 and I'm so greatfull it made sense for me to move home from the capital (Copenhagen, Denmark) to the city I'm from, where the prices are slightly less insane. Otherwise I would never have been able to buy my own home.
AMAZING VIDEO! What an incredible, clear call to action for people to be transparent and honest about the many factors that go into a decision like this.
Thank you for sharing! I also love the idea of a more communal living arrangement and watch a lot of videos from the "never to small" channel because I would love to live on a smaller footprint
Appreciate you talking about the privileges that led to being able to buy! And talking through the process. So few folks want to talk about *how* they are able to buy. More videos like this!
Your home ownership series is the most helpful thing I've ever seen about buying a home in this market! (I read a ton of personal finance stuff but this is real life and it's amazing.) Thank you so much for your honesty and transparency. My partner and I are on the cusp of ~maybe~ affording a home but the benchmarks keep shifting. Every time we get there the market gets more ridiculous and we're constantly priced out (Also GTA. Ugh.) Honestly? I really like our life. We have a ton of wiggle room in our budget and if I rage quit my job because I'm burned out, I could loaf around for a few months and not destroy our budget. We don't plan on having kids either but damn if I don't wanna be a housewife with two dogs and all the DIY projects. That couldn't happen with a mortgage but maybe with an apartment!
Yes, even something with ground floor access would help if you're doing larger DIYs! It's like there's no benchmark anymore. It's the wild wild west out there. Thank you so much for your kind words 💜
Thanks for sharing your journey with us! It does really help to know what's actually required, including the generational wealth or actual assistance your parents provided to set you up to buy the house. Those things aren't negligible, and they're not something everyone will have. I have a similar situation, where my parents helped us buy our first house last year, and it was still difficult because we were essentially relying on their credit scores instead of ours + a large financial contribution to avoid the mortgage insurance, and the housing prices are IN-SANE. Everything we bid on was a bidding war, which we lost because we didn't have cash. The fact that we own *anything* at this point is still kind of crazy to me. If you have these privileges, I think it is important to use them. Like you said, the first-time homebuyer stuff didn't help us much, because that stuff also makes you second (or third or last!) desirable in a bidding war where cash is king. It's not impossible, but it makes things harder instead of easier, as people would probably assume.
Love your content. This was an incredibly intentional video that I appreciate so much as an aspiring homeowner. I’m grateful for the alternatives mentioned too! Great vid
Currently happy renter, but aspiring rental property owner. Gotta make that property work to make money, lol. Thank you for the realness in this video Letitia! It might have been true in our parent's generation to be able to start from the bottom and work your way to wealth, but things have changed since then and people need to know that it doesn't mean you're a bad person if you can't just easily afford a house like it's nothing. P. S. I will also NOT be giving my parents grandchildren 🤣🤣🤣
Thanks for this video, it really isn't that simple for the majority.. I'm on my own coming from a single parent home and although I can save a bit my mom is basically my dependent.. so it's hard and it's taking longer than I planned to find a place of my own. 😩
I appreciate you sharing your journey. I have no doubt that hard work, determination, patience, and flexibility pays off. I am single with one income and purchased a single-family home in 2018 before the market got really hot in NC. I continuously saved and made a plan to tackle 1 major and 1-3 minor upgrades (including home furnishings) each year, as I do not plan to sell. For those who do not have dual income, achieving the goal is possible. The principal of sharing is also possible even in a single-family community. Communal living is not appealing to me, but the idea of sharing (i.e., tools, gardening supplies, etc.) is very much a principal that is quite appealing and reduces the need to budget for things that can be dually utilized. It's been almost 5 years as a homeowner, and I continue to improve my space and continually increase my emergency savings and 401k. Thank you, Letitia.
Yes, I'd love to see a solution to community sharing, even if it doesn't mean communal living. There needs to be a better way we can function together!
I wanted to express my gratitude for this video like everyone else! This topic has been weighing heavy on my mind juxtaposed with the idea of more sustainable, intergenerational living. It’s hard not to feel like you have to pick one with the housing market as it is now.
Intergenerational living can be rewarding with the right resources! It's tricky, like all shared human experiences, but we need to find solutions to this housing crisis. It's ridiculous out there
Super insightful Letitia! I will leave university this year and I have always dreamed of having a place on my own. Yet, with the current market, I will likely not be able or not feel comfortable buying in the near future. But I want to keep my options open. Thanks for being so open and transparent! Greeting from Germany! xx I love your channel since forever and I look forward to every video! I hope you get the recognition you deserve and are able to buy all the houses you want soon
My husband and I were dual income millennials (with not kids) when we first bought. I saved a lot of my money (thanks to my parents not charging me rent). I lived at home until I was almost 27, which helped. All of my co-workers thought I was "rich" because I owned a house, but they failed to realize all of their purchases added up, and I was never spending money. I made my own coffee, lunch, etc. I didn't own a car. Sometimes you have to make a lot of sacrifices and work hard for things you want.
Thanks a lot for sharing! Not often you hear these conversations outside of your house owning friends' circle and only if you are house owner yourself! I'm kinda curious about your interest rate actually because you said it goes up next year. What made you guys not go for the fixed interest rate for a longer period of time if they were so low when you bought the house?
For us, our variable rate is 1.4 and we can lock it in at any point, as it only goes up a small amount. But fixed rate is at 2.5 last time we checked, and we just decided this was the better option for us! There's no wrong choice, I think it's just a matter of preference
« Hydro which means water means electricity » 😂 you killed me. I come from France and i never understood this nonsense. Thank you so much for your honesty and transparency! This is great content. And also a great outfit btw! I’m a homeowner since 2021, i had to move close to Prince Edward county to be able to afford anything and i couldn’t have done it without financial help from my mom and my grandmother.
Yes! I love that we can be open and honest about help. It's just unrealistic to portray this independent achievement in this day and age. We're not dealing with the same finances as previous generations. And hydro bills are ridiculous 😂
@@letitiakiu I found someone from Bell that can help. I didn't take the deal because it is 3 year contract and my area doesn't have fibre higher than 50mbps. The offer is for 1gbps, let me know. I get nothing out for this ☺️.
Also you can always call your current provider and ask if they can match the competition or say you are looking to switch. This has helped my cell bills a lot.
OMG Thank you for this video!!! Need more of this. Love your openness and story. ❤️❤️❤️❤️ Update: boy and I bought a house in Scarborough last weekend!!!!!! Come visit we need your help and guidance. BIG TIME
I had plans to buy in early 2021 and your earlier videos were helpful! Unfortunately, the market have not stopped being crazy ever since my first home offer in February 2021 (which I didnt get). I feel like I missed the "affordability window" by 6 months.
Don't sleep on it...this is a time to invest I recently just bought another property valued at over $10m. I wish I knew the right investment firm to invest with earlier, better late than never thought.
I have a question, why is your interest rate going up? Don’t you have a loan that has a fixed interest rate? I live in Texas and I am a homeowner. I have a mortgage and the benefits of being a homeowner outweigh the cons, in my opinion.
❗Let me know below, are you a homeowner? Aspiring homeowner? Happy renter? Unhappy renter? If you appreciated this video please give it a like!
Thanks for being 100% transparent that the parents helped in one way or another. I don't understand why it's something people are ashamed of. Open acknowledgment of the privileges we grow up with is how we become more understanding of those who don't have those advantages in life.
I feel the same way Jiji. We didn't choose to have privileges, but unwillingness to acknowledge it only makes those without those privileges feel less than, and that's not fair.
Dual income, no debt, and crappy cars is exactly how we got our house too. That and working multiple jobs for years... Was it worth it? I hope so.
We're the generation of side hustles!
Not worth it at all
First of all, thank you for your transparency and for sharing! People are able to advance more easily when they have more knowledge. I can say this is 100% true. When you get to my age (almost 30) and your white peers are hitting different milestones than you, it is only now that I see the great financial divide! The truth is that having a dual income and no debt gets you places much faster. My peers that are financial ahead graduated college debt free, were given brand new cars upon graduating, married young to someone else who was also debt free and both parent’s paid for their down payment to their first home. And it all happens so fast that it can feel like you're behind when really they had a jumpstart. I want to own a house! I want to be debt-free! I want to come into a marriage adding, not subtracting to our wealth! That's where knowledge comes in! There are resources out there (mutual, index, HSA) that can help get you there. You just have to find a trusted financial counselor to teach you! Best decision I ever made! Any way, congrats, Leitita on your home! And please continue to share financial knowledge to us women!
All those advantages added up, leaves many of us milesssss ahead of our peers. Let alone the career opportunities given to white folk and the easy confidence they have to take up space. What a deeply woven web of white supremacy. As an asian person, the model minority stereotype has benefitted me in some ways as well. I think calling this out is the least we can do to help uplift BIPOC
You are bang on! Thank you for your honesty and integrity. There are so many people on UA-cam etc that make it seem like they have it all and it’s so easy. But it’s all fake. It only serves to make watchers feel inadequate and like they’re doing it wrong or simply not smart enough. Thank you for being authentic! What a breath of fresh air.
Thank you so much Katrina! I think all of us are tired of the facade social media presents. That, along with the housing market, is enough to make anyone feel less than.
Thank you so much for sharing all of this especially the prt about the privilege that comes with the family you grow up in and if you go to uni and come out with debt or not! Nobody is sharing that!!!
Love ya xx greets from Berlin
Im a freelancer too so i relate alot!
Thank you so much Maria!!
I cannot believe there aren’t more views! This is so valuable and informative. Thank you!!!
Thank you Dani 💕 It helps to like the video!
omg this might be waaay too personal to make a video on (and if so totally valid boundaries are v important) but would you ever consider making a vid on being a DINK (dual income no kids)?? or how u and ur partner decided on that? im struggling sooo much about this and would love to hear any bits of your perspective!!
Hi! Yes, happy to make a video on it. We're due for another in the car chat. I'll keep this in mind
@@letitiakiu omg thank you 💖💖💖
thank you so much for this transparent and honest perspective!!! soo refreshing and helpful!!! also YES COMMUNAL LIVING
Thanks for your transparency, L! I'm a fellow millennial-homeowner and it's just... wild out there. I feel you, girl! Can't wait for your next vid
It's a serious commitment!! Thank you for your support 💕
Great points! coming from immigrant families there are ties to continue to helping financially even if you live with them.
Absolutely. I feel incredibly indebted to my parents
My degrees cost me nearly $100K just to make a decent living in the US. Def. a disadvantage, especially if you're single and looking to buy.
That's brutal. To start off a career saddled with this much debt is so much pressure
Watching this from our first home out here in MB and let me just say, those Toronto numbers are insane. We are still privileged but working hard to save for a house is actually still kind of possible out here.
They're absolutely bonkers. I have no idea how other people are doing it
Homeowner here 🙋🏻♂️ I honestly love the equity, always will have back up money loans etc if needed.
Nice! Glad you were able to get in on the market
Thank you for being you!!🦋
Thank you Ashlee 💕
New home owner 💪
I bought a house for myself summer 2021 and I'm so greatfull it made sense for me to move home from the capital (Copenhagen, Denmark) to the city I'm from, where the prices are slightly less insane. Otherwise I would never have been able to buy my own home.
I'm glad you did what was right for you!
AMAZING VIDEO! What an incredible, clear call to action for people to be transparent and honest about the many factors that go into a decision like this.
Thank you Hannah!!
Our first home 21 yrs later. Still our first home.. zero down and seller paid for closing cost.
This was so informative, even though I live in the US lol but I love your videos! Thank you for making this!
ty for being transparent n adamant of your financial privilege ❤️
Thank you for this video! It was so helpful 🔑
Thank you Machera!
Thank you for sharing! I also love the idea of a more communal living arrangement and watch a lot of videos from the "never to small" channel because I would love to live on a smaller footprint
Appreciate you talking about the privileges that led to being able to buy! And talking through the process. So few folks want to talk about *how* they are able to buy. More videos like this!
Thank you so much Lydia 😭 I saw you on a bus ad this weekend and I'm so proud of what you're doing!!!
Your home ownership series is the most helpful thing I've ever seen about buying a home in this market! (I read a ton of personal finance stuff but this is real life and it's amazing.) Thank you so much for your honesty and transparency. My partner and I are on the cusp of ~maybe~ affording a home but the benchmarks keep shifting. Every time we get there the market gets more ridiculous and we're constantly priced out (Also GTA. Ugh.) Honestly? I really like our life. We have a ton of wiggle room in our budget and if I rage quit my job because I'm burned out, I could loaf around for a few months and not destroy our budget. We don't plan on having kids either but damn if I don't wanna be a housewife with two dogs and all the DIY projects. That couldn't happen with a mortgage but maybe with an apartment!
Yes, even something with ground floor access would help if you're doing larger DIYs! It's like there's no benchmark anymore. It's the wild wild west out there. Thank you so much for your kind words 💜
Such a great video! Appreciate you sharing your financials, as well as your thoughts on housing in general ✨
Thank you so much!!
Thanks for sharing your journey with us! It does really help to know what's actually required, including the generational wealth or actual assistance your parents provided to set you up to buy the house. Those things aren't negligible, and they're not something everyone will have. I have a similar situation, where my parents helped us buy our first house last year, and it was still difficult because we were essentially relying on their credit scores instead of ours + a large financial contribution to avoid the mortgage insurance, and the housing prices are IN-SANE. Everything we bid on was a bidding war, which we lost because we didn't have cash. The fact that we own *anything* at this point is still kind of crazy to me. If you have these privileges, I think it is important to use them. Like you said, the first-time homebuyer stuff didn't help us much, because that stuff also makes you second (or third or last!) desirable in a bidding war where cash is king. It's not impossible, but it makes things harder instead of easier, as people would probably assume.
Love your content. This was an incredibly intentional video that I appreciate so much as an aspiring homeowner. I’m grateful for the alternatives mentioned too! Great vid
Thank you so much Imani 💖🙏
Currently happy renter, but aspiring rental property owner. Gotta make that property work to make money, lol. Thank you for the realness in this video Letitia! It might have been true in our parent's generation to be able to start from the bottom and work your way to wealth, but things have changed since then and people need to know that it doesn't mean you're a bad person if you can't just easily afford a house like it's nothing.
P. S. I will also NOT be giving my parents grandchildren 🤣🤣🤣
Lolol I will work towards giving my parents many things, just not that. They don't ask though, so I'm very lucky!
Really enjoy this video and your transparency thanks for sharing ❤️❤️
Thank you Maritza!
Thanks for your honesty and sharing this!
Thank you Viv!!
Great informative video Letitia!
Thank you Krista!
Love this video!✌🏾✌🏾
Thanks for this video, it really isn't that simple for the majority.. I'm on my own coming from a single parent home and although I can save a bit my mom is basically my dependent.. so it's hard and it's taking longer than I planned to find a place of my own. 😩
Many families live intergenerationally as well! I can see this happening for my future, and I applaud you for caring for your loved ones.
I appreciate you sharing your journey. I have no doubt that hard work, determination, patience, and flexibility pays off. I am single with one income and purchased a single-family home in 2018 before the market got really hot in NC. I continuously saved and made a plan to tackle 1 major and 1-3 minor upgrades (including home furnishings) each year, as I do not plan to sell. For those who do not have dual income, achieving the goal is possible. The principal of sharing is also possible even in a single-family community. Communal living is not appealing to me, but the idea of sharing (i.e., tools, gardening supplies, etc.) is very much a principal that is quite appealing and reduces the need to budget for things that can be dually utilized. It's been almost 5 years as a homeowner, and I continue to improve my space and continually increase my emergency savings and 401k. Thank you, Letitia.
Yes, I'd love to see a solution to community sharing, even if it doesn't mean communal living. There needs to be a better way we can function together!
The hydro / water comment: I felt that in my bones, lol
I wanted to express my gratitude for this video like everyone else! This topic has been weighing heavy on my mind juxtaposed with the idea of more sustainable, intergenerational living. It’s hard not to feel like you have to pick one with the housing market as it is now.
Intergenerational living can be rewarding with the right resources! It's tricky, like all shared human experiences, but we need to find solutions to this housing crisis. It's ridiculous out there
Very informative.
thank you!
Super insightful Letitia! I will leave university this year and I have always dreamed of having a place on my own. Yet, with the current market, I will likely not be able or not feel comfortable buying in the near future. But I want to keep my options open. Thanks for being so open and transparent! Greeting from Germany! xx I love your channel since forever and I look forward to every video! I hope you get the recognition you deserve and are able to buy all the houses you want soon
Thank you so so much Julia 💕 We can always work with what we have and try our best to make our home, our home. Hello from Canada!
Great messaging re support from family.
amazing!! thank you for this video :)
Thank you Magdalena!!
My husband and I were dual income millennials (with not kids) when we first bought. I saved a lot of my money (thanks to my parents not charging me rent). I lived at home until I was almost 27, which helped. All of my co-workers thought I was "rich" because I owned a house, but they failed to realize all of their purchases added up, and I was never spending money. I made my own coffee, lunch, etc. I didn't own a car. Sometimes you have to make a lot of sacrifices and work hard for things you want.
Thanks a lot for sharing! Not often you hear these conversations outside of your house owning friends' circle and only if you are house owner yourself!
I'm kinda curious about your interest rate actually because you said it goes up next year.
What made you guys not go for the fixed interest rate for a longer period of time if they were so low when you bought the house?
For us, our variable rate is 1.4 and we can lock it in at any point, as it only goes up a small amount. But fixed rate is at 2.5 last time we checked, and we just decided this was the better option for us! There's no wrong choice, I think it's just a matter of preference
The type of communal type of living is called share house in Japan it has pros and a lot of cons.
I'm sure I'm romanticizing a lot of it! Though I'm still hopeful that with the right structures in place, it can be successful and fulfilling
« Hydro which means water means electricity » 😂 you killed me. I come from France and i never understood this nonsense.
Thank you so much for your honesty and transparency! This is great content. And also a great outfit btw!
I’m a homeowner since 2021, i had to move close to Prince Edward county to be able to afford anything and i couldn’t have done it without financial help from my mom and my grandmother.
Yes! I love that we can be open and honest about help. It's just unrealistic to portray this independent achievement in this day and age. We're not dealing with the same finances as previous generations. And hydro bills are ridiculous 😂
Awesome content. I think you can reduce your internet bill just a tiny bit if you're willing to negotiate or switch once in a while.
Who are you with?? Our bill just went up again and I'm not impressed -______-
@@letitiakiu I found someone from Bell that can help. I didn't take the deal because it is 3 year contract and my area doesn't have fibre higher than 50mbps. The offer is for 1gbps, let me know. I get nothing out for this ☺️.
Also you can always call your current provider and ask if they can match the competition or say you are looking to switch. This has helped my cell bills a lot.
I couldn't post this yesterday but I'm with Carrytel might switch to Virgin Plus one day just because of the price.
OMG Thank you for this video!!! Need more of this. Love your openness and story. ❤️❤️❤️❤️
Update: boy and I bought a house in Scarborough last weekend!!!!!! Come visit we need your help and guidance. BIG TIME
ANNNNNNNNN CONGRATS!!!!!! I've been thinking of how I would feel renovating other people's spaces
@@letitiakiu YOU’D BE AMAZING!!! So start with my house!! Please think about it ok?!?! 😏
Great info!
Thank you Kelly!!!!
I had plans to buy in early 2021 and your earlier videos were helpful! Unfortunately, the market have not stopped being crazy ever since my first home offer in February 2021 (which I didnt get). I feel like I missed the "affordability window" by 6 months.
Don't sleep on it...this is a time to invest I recently just bought another property valued at over $10m. I wish I knew the right investment firm to invest with earlier, better late than never thought.
To be honest I invested as low as $20,000 because I was skeptical initially. Receiving my profit gave me more confidence to reinvest higher.
Titia, let's just all get a place together. Terrace House Toronto LMAO
LMAO we can share coffee machines!
@@letitiakiu HAHA yess we can!!
i pretty much had to promise my first born child to get approved for our mortgage 😂
as long as it's not Toledo 😭💜
What is hydro?
I have a question, why is your interest rate going up? Don’t you have a loan that has a fixed interest rate? I live in Texas and I am a homeowner. I have a mortgage and the benefits of being a homeowner outweigh the cons, in my opinion.
We're on a variable rate, so it changes incrementally!
wow I envy your ability to be adult
You 2 will fight with money and will end pretty messy