Do not, I repeat, under any circumstances, buy a house just so you can own. Do not FOMO your way into a nightmare and financial situation you cannot escape.

I have a story of a neighbour of mine. She left a big city for a smaller area about an hour outside Toronto. She bought with 5% down, she waived inspection, and she bought a 100 year old house with zero renovation budget.

Now, she's trapped in a house that needs a ton of work, in a city and neighbourhood she hates, and her mental health is declining rapidly. And, she literally can't afford to sell.

She has no equity. Selling the house would cost so much that with 5% down (which basically covered CMHC insurance) means she is stuck in a house she can't afford to renovate, so she can't sell it for even enough to cover the costs of legal fees, early repayment penalties, any taxes, and real estate agents.

For comparison, a neighbour bought for 10k less than she did, and sold the house for 45,000 dollars more than he paid for it, and that was his BREAK EVEN point.

IF YOU VALUE YOUR SANITY, do not, I repeat, DO NOT buy a house just to own something. Do your research, UNDERSTAND what you are getting into, understand what it will take to get out if you hate it.