My Dad Bought Our House With One Cheque

I grew up in the '90s and early 2000s.  

When my family moved from our little three-bedroom apartment in North York, ON (there were five of us) into a five-bedroom house in the suburbs, it felt like we'd unlocked a new level of life.  

Peach wall-to-wall carpeting. A renovated kitchen. A large basement. A backyard.  

A sunken living room, which at the time felt like the fanciest thing imaginable.  

I became friends with all the neighbourhood kids. We'd ride our bikes until the streetlights came on, walk to school together, and spend entire summers outside.  

Looking back, it feels like a different world.  

What amazes me even more is how my parents got there.  

My dad worked in sales for a baby photography company. Long before digital cameras, he travelled across Canada selling portrait packages to new families. 

He understood his customers because he was one himself. He knew what new parents cared about, what they could afford, and how to speak their language.  

Most importantly, he saved.  

Eventually, he bought our family home with one cheque.  

That's right. One cheque.... 

Before anyone says, "Well, those days are gone..."  

You're right.  

For most people, they are.  

Our generation doesn't have the luxury of saving enough cash, even on a strong income, to buy a five-bedroom home outright in places like Toronto, Vancouver, Victoria, or many surrounding communities.  

Housing has simply outpaced income growth.  

Statistics Canada data shows that while wages have increased over the past few decades, home prices have risen much faster. In 2000, the average Toronto home sold for about $243,000. Today, it's over $1 million.  

So if the rules have changed...  

What does it actually take to build a comfortable life today?  

I don't think the answer is wishing we'd been born 30 years earlier.  

Every generation has its challenges, and every generation has its advantages.  

Our parents benefited from a very different housing market.  

We benefit from living in the digital age.  

We can work remotely. Build businesses from our laptops. Create digital products. Learn almost any skill online. In many careers, we can earn an income from almost anywhere in the world.  

The game has changed. It didn't end.  

In our world, convenience has never been cheaper.  

We can have groceries delivered, stream almost any movie ever made, and video call someone on the other side of the world from our phones.  

Things that felt luxurious in the '90s are ordinary today.  

At the same time, some of our most basic needs, like housing, childcare, and groceries, have become significantly more expensive.  

After working with hundreds of families, I've noticed the financially successful ones tend to have a lot in common.  

Here are a few I've noticed:  

1. They prioritize saving and investing before lifestyle inflation.  

2. They understand the basics of money. They don't know everything, but they know what a TFSA, RRSP, pension, or corporation is designed to do.  

3. They generally earn a good living, but more importantly, they continue increasing their earning potential.  

4. They ask for help instead of trying to figure everything out themselves.  

5. They make decisions. They book the appointment. They make the phone call.  

6. They make sacrifices when necessary. Sometimes that's moving farther from the city or delaying gratification.  

7. They're usually on the same page as their spouse when it comes to money.  

8. They protect what they've built with insurance.  

9. They trust themselves enough to make thoughtful decisions without endlessly second-guessing. 

10. They understand that building wealth is rarely one big move. It's hundreds of small ones over time.  

None of these things require you to be born into wealth or have a perfect life.  

They're simply habits.  And habits can be learned.  

Our parents had advantages we'll probably never have:  

• More affordable housing. 

• An easier path to home ownership. 

• More jobs with pensions. 

• The ability to raise a family on one income. 

We have advantages they never imagined:  

• Freedom. 

• Flexibility. 

• Knowledge. 

• Mobility. 

• Unlimited access to education. 

• The ability to earn income in ways that didn't exist 30 years ago. 

So what do we do?  

We stop wishing we were playing our parents' game.  

We learn to win the one we're in.  

We protect what we've built. 

We save before we spend. 

We invest consistently. 

We build our income.  

We ask questions.  

We adapt.  

The path looks different than it did a generation ago.  

But wealth isn't reserved for the lucky.  

It's built by ordinary people making intentional decisions over and over again.  

If you'd like some help creating your own plan, I'd love to help. You can book a call with me below. 👇