Graduation & Life Transitions
Moving Out, Moving Up: Real Estate Tips for New Grads
Graduation marks the end of one chapter and the exciting start of another. Whether you're starting your first job, heading to grad school, or taking time to figure things out — one big question often looms: Where will you live?
The transition from student life to post-grad independence comes with big decisions, especially when it comes to housing. Here are a few real estate tips (and a financial tool you need to know about) to help new grads take confident steps toward their future home:
1. Renting vs. Buying: Start With Your Lifestyle
It’s tempting to jump into homeownership, especially with rising rents. But take a moment to evaluate your current situation:
Are you settling into a long-term job?
Do you plan to stay in the same city for a few years?
Is your income steady enough for a mortgage?
If the answer to most of these is yes, it may be time to start thinking about building equity instead of paying rent.
2. Take Advantage of the First Home Savings Account (FHSA)
One of the best tools available to new grads (and all first-time buyers) is the First Home Savings Account (FHSA) — a government-backed savings program that helps you save tax-free for your first home.
Here’s how it works:
You can contribute up to $8,000 per year, up to a lifetime max of $40,000
Contributions are tax-deductible (like an RRSP)
Withdrawals for a first home purchase are tax-free (like a TFSA)
Funds must be used within 15 years or by age 71
It’s a great way to start saving now, even if you're not quite ready to buy. Many grads use it while renting to get ahead.
3. Know Your Credit Score & Budget
Lenders will look at your credit history and debt-to-income ratio when you’re ready to buy. Start building good credit habits early:
Make student loan payments on time
Keep credit card balances low
Avoid financing big purchases unless necessary
Also, create a budget that includes not just your rent or mortgage, but also utilities, groceries, transportation, and savings. Knowing your numbers helps you plan with confidence.
4. Think Long-Term When Renting
Even if you’re not ready to buy, choosing the right rental can still support your future goals. Look for:
Walkable neighbourhoods with transit access
Safety and amenities that match your lifestyle
Units that allow you to save money (e.g., roommates, inclusive utilities)
Consider asking your Realtor to help — we know which neighbourhoods are up-and-coming and which rentals make sense for your situation.
5. Talk to a Realtor Early
You don’t need to be ready to buy a home to start a conversation. Whether you’re curious about market trends, wondering if your FHSA is enough, or just need advice on where to rent — we’re here to help.
Congratulations, Grad!
Whether you're moving out, moving up, or just moving on — it’s a big moment. Let us help you make smart real estate decisions now, so your future is even brighter.
Ready to chat about your next move?
Reach out — we’d love to help guide your next chapter.