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What’s the best way to save for a down payment on an apartment or house?

Luisa Rollenhagen

Luisa Rollenhagen is a journalist and investor who writes about financial planning for Wealthsimple. She is a past winner of the David James Burrell Prize for journalistic achievement and her work has been published in GQ Magazine and BuzzFeed. Luisa earned her M.A. in Journalism at New York University and is now based in Berlin, Germany.

Planning to join the ranks of homeowners? There’s no emotional wellbeing that can compare with what one feels when acquiring an irregularly sized collection of sheetrock, glass, and linoleum. But exactly when are you planning to buy? If you're not going to buy for five or more years, you’ll want to get your savings invested. Investments in equities, aka stocks, though susceptible to wild up and down swings, have been shown to increase in value quicker than real estate, so it’s likely that the longer you keep money invested in the market, the more house you’ll be able to afford when you do pull the trigger.

Last Updated November 7, 2018

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