Is this the right time to buy a home?

Tracy Head • October 4, 2025

Who has your best interests at heart?

Buying a home can be either an incredibly exciting experience or a very stressful time. Or it can be a combination of both.

Part of the challenge can be committing to the decision to move forward with buying a home. How do you know if you are ready? How do you know if this is the right time to buy?

I love working with first-time home buyers. I particularly love when they reach out well ahead of time to do their research and get their ducks in a row.

I have been working with one such young lady. She has been watching for the right home to pop up. She fell in love with one of the listings that she viewed and moved forward with an offer.

She reached out to her investment advisor to make arrangements to move the funds she needed for her deposit from her investments to her bank account. Oddly he did not reply to her three phone calls nor multiple emails. She was forced to walk into his office to deal with this.

When she got there he essentially told her she was foolish for buying a home. She should leave her funds in her investments and continue to save with him. She agonized for a few days and ultimately collapsed her offer.

He told her that this house, over the long run, was going to cost her $1,000,000. The purchase price was $650,000. The total of the purchase price plus interest over the long run seemed like an astronomical sum.

He persuaded her that she would be better off continuing to rent and that at the end of the same time period she would have over $1,000,000 in her investment account.

That’s all well and good in theory. In the meantime she still needs a place to live. And there are no guarantees as to what investments will do over time, nor what property values will do.

I did some math to see what this actually looked like long term. We have to make some assumptions that the financial advisor is good at what he does and that her investments will do well over the long term.

As a rule real estate appreciates over time and rent increases over time. That being said, here is the math I did.

Making some assumptions that the mortgage rate stays the same and your rent never increases:

$2400 rent per month x 360 months (30 years) = $864,000
$2833 per month mortgage payment x 360 months = 1,019,880 (monthly payments / I suggest you go bi-weekly to pay off quicker)

At the end of 30 years renting you have nothing to show for the $864,000 you’ve paid out.

At the end of 30 years paying your mortgage you will have a home free and clear – normally real estate increases in value over time so in theory it will be worth way more than what you’ve paid.

If you wait another year to buy $2400 x 12 = $28,800 towards someone else’s mortgage.

Here’s the wild card. If you choose to rent and choose to invest in a portfolio instead of buying, even if your portfolio is worth $1,000,000 at the end of the same time frame you need to subtract the $864,000 you paid in rent.

This leaves you with a net gain of $136,000.

If you had purchased a home, your payments of $1,019,880 would be offset by the value of the home you purchased. In this case, assuming no change in value, you now have a home worth $650,000 paid off.

The wild card to run these comparisons is how much you need to invest monthly to accumulate the $1,000,000. Either way, you are making this payment on top of your rent payment. Another wild card of course is what property values and investment portfolios do over time.

We know rent will continue to increase and mortgage rates will change but I think it warrants looking at this from another perspective. I am not a proponent of aggressive scare tactics so was disappointed in how this advisor handled his conversation with her.

Some people are more cautious with their financial plans and I appreciate that. Being certain about your long-term goals will help you navigate the path forward that suits your own situation. Make sure you have trusted people in your corner as you make these big life decisions.

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Tracy Head

Mortgage Broker

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Reverse Mortgages

By Tracy Head • February 6, 2026

Reverse Mortgages: A Tool More Canadians Should Understand After years in the mortgage business, I’ve learned that few financial tools are as misunderstood as the reverse mortgage. I’ll admit it upfront: for a long time, even mentioning the words made people tense up. I’d see shoulders tighten, brows furrow, and someone would inevitably say, “Isn’t that how you lose your house?” Let’s clear the air. A reverse mortgage is simply a way for Canadian homeowners aged 55 and over to access some of the equity they’ve built up in their home—without having to sell it or make monthly mortgage payments. For many retirees, that alone is a game changer. Many Canadians I work with are “house rich and cash poor.” They may own a home worth a significant amount, but their retirement income hasn’t kept pace with the rising cost of groceries, utilities, property taxes, or helping adult kids and grandkids. A reverse mortgage can help bridge that gap by turning part of that home equity into tax-free cash. That money can be taken as a lump sum, regular payments, or a combination of both. Some homeowners use it to top up their retirement income. Others use it to pay off an existing mortgage or line of credit, eliminate monthly debt payments, or fund renovations that let them age comfortably in place. I’ve even seen clients use it to cover medical expenses or make their home safer with mobility upgrades. One of the biggest benefits—and one that surprises people—is that you don’t have to make monthly payments. Interest is added to the balance, and the loan is typically repaid when the home is sold or the owner moves out permanently. As long as you keep the home maintained, insured, and pay your property taxes, you remain the owner of your home. Another common concern is inheritance. It’s a fair question. What happens to the house? The reality is this: when the home is eventually sold, the reverse mortgage is paid off, and any remaining equity goes to the homeowner or their estate. These products in Canada are regulated and include safeguards so you’ll never owe more than the fair market value of your home. Are reverse mortgages right for everyone? Absolutely not. They tend to work best for homeowners who plan to stay in their home long term and need access to equity but don’t want the pressure of monthly payments. They’re also something that should be discussed openly with family and reviewed with a qualified professional who understands the fine print. What I always encourage is education—not fear. Too many homeowners dismiss reverse mortgages based on outdated information or horror stories that don’t reflect today’s Canadian market. Like any financial tool, they have pros and cons, but when used appropriately, they can provide flexibility, dignity, and peace of mind in retirement. At the end of the day, retirement isn’t just about numbers on a page. It’s about choices. Staying in the home you love. Reducing financial stress. Enjoying the life you worked so hard to build. For many Canadian homeowners, a reverse mortgage can be one of the tools that helps make that possible. And that’s worth a second look.

Trying to Buy a Home in a Competitive Market

By Tracy Head • January 23, 2026

Trying to Buy a Home in a Competitive Market? You’re Not Imagining Things After years as a mortgage broker, I can tell you this with confidence: buying a home in a competitive market isn’t just hard. It’s emotionally exhausting. I talk to buyers every day who feel like they’re doing everything right. They’ve saved a down payment, checked their credit, talked to a lender, and started house hunting with realistic expectations. And yet, they’re still losing out. Multiple offers. Bidding wars. Homes selling in days — or hours. It can make even the most level-headed buyer question whether homeownership is still within reach. One of the biggest challenges I see is speed . In competitive markets, hesitation can cost you the house. Buyers are often expected to make quick decisions on the largest purchase of their lives, sometimes with limited conditions and tight timelines. That’s a lot of pressure, especially for first-time buyers who are still learning the process as they go. Then there’s the financing side. In a hot market, a strong offer isn’t just about price. It’s about certainty . Sellers want to know the deal will close. That’s why buyers with solid pre-approvals, flexible closing dates, and fewer conditions tend to stand out. Unfortunately, many buyers don’t realize how important this is until they’ve already lost a few bidding wars. Another challenge is expectations versus reality . Online listings and headline prices don’t always tell the full story. I often see buyers fall in love with homes that are priced low to attract attention, only to sell well above asking. That can be discouraging, especially when it happens repeatedly. It’s not that you’re doing something wrong. It’s that the market is playing a different game. Appraisals can also throw a wrench into things. Even if you’re willing to pay more, the lender still needs the property to appraise at or near the purchase price. When prices are rising quickly, appraisals sometimes lag behind the market. That can mean buyers need to come up with extra cash or renegotiate. That’s not a conversation anyone wants after winning a bidding war. And let’s not forget the emotional toll. I’ve seen buyers go from excited to deflated more times than I can count. Losing out on a home — especially one you pictured yourself living in — hurts. Do it three or four times, and it’s easy to feel burnt out or start second-guessing your plans entirely. So what helps? Preparation. Flexibility. And a good team. Getting your financing sorted early — ideally before you start house hunting — gives you clarity and confidence. Understanding your true budget (not just the maximum you qualify for) helps you move decisively when the right home appears. Being open on location, property type, or timing can also make a big difference. Most importantly, remind yourself of this: This market is not a reflection of your worth or your effort. It’s competitive because demand is high and supply is tight. Not because you’re failing. I’ve seen many buyers feel like they’d never catch a break, only to end up in a home they love — sometimes one they hadn’t even considered at first. The path may be longer and bumpier than expected, but with the right guidance and a bit of resilience, it’s still very possible. If there’s one thing I want buyers to know, it’s this: You’re not alone. And you’re not crazy. This market is tough — but tough doesn’t mean impossible.