Home Sweet Home - Moving to Moose Jaw, Saskatchewan
As a young, 20-something couple, moving halfway across the country and buying our first home was not where we saw our 2021 going. Saskatchewan was the last place I would have picked to live as a young person, however it has turned out to be exactly the right choice. While we have only lived here for a short time, I wanted to share our experience with the process of moving between provinces, buying our first home, and becoming landlords in our early 20s.
In June of 2021, my partner was given the opportunity to participate in a 2 month training program with his company. At the end of the program he was to be given a semi-permanent placement somewhere in Canada to take the next step in his career. In September he was assigned to Moose Jaw, Saskatchewan and then began the next chapter of our lives. While it took some adjusting, we have come to love our new city and all it has to offer - but that’s another story! For now I want to focus on the process of moving and buying as a young couple from Ontario.
Back home in Ontario, the average cost of a house as of January 2022 is just over $998 000. This is compared to the average cost of a home in Saskatchewan which is around $290 000. I’ll let that sink in. A home in Ontario costs almost 3x as a much as a home in Saskatchewan. Living in Sask is simply more affordable than living at home in Ontario. My partner and I had no hope of buying a house at home until we were in our mid-20s and both working full time. This is a reality for most young people in Ontario, and the struggle continues to grow. As I am a university student I only work in the summers, and while I have helped financially, it was my partners salary and credit that was used to purchase our home. We bought a three story century home in the heart of the city for just over $270 000. I struggle to find such a home in Ontario for the same price, in fact I struggle to find any house in Ontario for that price.
On top of that, our home pays for itself. You read that right. Our home is a triplex, meaning we rent two of the three units and live in the third. The income from the two units covers the mortgage, utilities, and then some. The idea of being a landlord at 20 and 21 seemed daunting, but once you take on the challenge it is laughably easy. Aside from the initial struggle of setting everything up, we are lucky to have some great tenants and the process has been relatively smooth. However, our house is 110 years old and needs a bit of love once in a while. For instance, during an extreme cold period where the temperature dipped close to -50 degrees celsius, we found ourselves fixing a few plumbing issues. The process of buying a home and becoming landlords has been a welcome challenge.
To be completely transparent, we did have some help. The first time home buyers discount allowed my partner to put a smaller down payment on the house. As well, his work has a relocation program that pays for several fees involved in buying a home - however, this program does require a time commitment from him or he would have to pay the money back if he ever chose to leave the job. Despite that, owning a rental property as a young couple has completely changed the way we look at income and home ownership.
If you take anything away from our experience so far, is to take risks and to say yes to even the most unexpected opportunities. A year ago I would have laughed if you told me I would be living in Moose Jaw, but now I know to embrace the unknown and be excited for whatever comes next.