Illustration by Diana Bolton
Anna bought her first home in Winnipeg four years after coming to Canada.
The 29-year-old works full time in human resources, which pays about $80,000 a year. On top of that, she earns $20,000 a year from a side hustle: She spends seven hours a week freelancing as a quality analyst for a U.S. tech company.
Anna worked the side hustle full-time during law school while she was still in the Philippines. After moving to Canada, she cut back on her hours to focus on her new HR job.
“I’ve been doing it for years,” she said. The “online gig helped me fund my investments.”
That second stream of income helped Anna save a down payment and break into the housing market on her own at such a young age. Buying in Winnipeg, a fairly affordable housing market, also helped.
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In November, 2024, Anna purchased her one-and-a-half-storey home. Built in the 1950s, the house has about 900 square feet of living space, a detached garage and a large backyard. It’s located near downtown, just a few minutes’ commute to her work.
Anna bought the property for $325,000 with a 20 per cent down payment, roughly $65,000. She has a three-year fixed mortgage at 4.1 per cent through a major bank, amortized over 25 years. Her monthly mortgage payment is about $1,400.
Her down payment stemmed from years of disciplined saving across two countries, long before she planned to buy property. She started saving in the Philippines as a student, investing in conservative blue‑chip stocks and building up about $30,000.
After starting her career in Canada, she set aside roughly $1,500 a month for three years. Living with family kept expenses low.
“My net salary per month would just be for me,” she said.
After moving into her own apartment, she kept saving aggressively, aiming to divert about a third of her income into a high‑interest savings account.
Once she became a permanent resident, Anna transferred her money into her tax-free savings account and changed her investing strategy. Unfamiliar with the Canadian stock market, she initially avoided stocks before gradually shifting toward exchange-traded funds that track broad market indexes.
She also opened a first home savings account shortly before buying and contributed the annual maximum of $8,000. “I just did it for the tax return,” she said, estimating she received about $800 back.
When it came time to buy, she pulled from all the buckets.
While the income from her side hustle helped accelerate her timeline, Anna said the core of her strategy was to live frugally and save consistently.
“At the end of the day, you could earn a lot of money, but if you keep living beyond your means, then it’s nothing,” she said. “I know a lot of people who are obsessed with luxury bags and stuff like that [but] I never let the income inflate my lifestyle.”
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And despite years of saving, committing to buy was still intimidating.
“The hardest part for me is deciding that I actually am going to buy a house,” she said. “It’s so scary, especially if you’re single.”
Finding the right property also proved difficult. During her search, she was outbid eight times, often by offers roughly $100,000 above the asking price.
When she secured her home, she moved in with her boyfriend after six months. Her sister now lives in the house and covers utilities such as hydro, water and internet, while Anna continues to pay the mortgage and maintenance costs.
In the future, she hopes the property could become a rental, partly because of its proximity to the city and universities.
But Anna warns that many first-time buyers underestimate the continuing costs of owning a home.
“The easiest part would be paying for the mortgage,” she said. “The hard part is when something breaks, or you suddenly have a repair you didn’t expect.”
Costs
Purchase price: $325,000
Down payment: $65,000 (20 per cent)
Home inspections: TBD
Legal fees: $1,200
Moving: Approximately $800
Monthly Continuing Costs
Mortgage: Approximately $1,400
Home insurance: $120
Utilities: Approximately $180
Anna’s advice: Think carefully about whether home ownership truly fits your goals. Do you actually want a house? Or do you just feel like you’re supposed to have one?
Some details may be changed to protect the privacy of the people profiled. Are you a first-time homeowner who would like to share their story? Send us an e-mail.
