043: How to Buy a House in Your 20s and 30s

In this episode, Kyle interviews repeat guest, Chi Chi Ross, an Ottawa-based realtor and author. Today, Chi Chi comes in to talk about the premise of her new book, How To Buy a House in Your 20s and 30s (When You’re Cash Strapped and Have Little or No Financial Support in a Tough Economy). Listen as she walks us through what inspired her to write this book, what important things you need to know about owning a home, and why education is key in making the right financial decisions.

Covered Topics:

  • Financial Literacy: Buying A House in Your 20s and 30s
  • About Chi Chi’s new book
  • Getting a home with lifestyle changes
  • Practicing financial literacy
  • Taking advantage of today’s opportunity
  • Getting educated and making the right decisions

 Key Points (Click the timecode to go to that part of the interview)

  • [00:10] – April: Financial Literacy Month
  • [00:23] – Kyle introduces a repeat guest — Chi Chi Ross!
  • [01:31] – Chi Chi’s new book, How To Buy a House in Your 20s and 30s (When You’re Cash Strapped and Have Little or No Financial Support in a Tough Economy)
    • Learn about Chi Chi’s personal story in the first chapters
    • Dealing with clients is “not all rosy”
    • The importance of proper education
    • Homeownership is something Chi Chi never thought she’d have until her 40s or 50s
  • [06:40] – Kyle talks about mentality differences
    • The huge lack of education
  • [08:11] – Chi Chi’s 2 passions made in 1 book
  • [09:05] – The Preparation Stage
    • #1 Educate Yourself — know where you stand
      • Look at the numbers you’re making
      • Chi Chi shares about getting a part-time job to be able to match the financial requirement
      • Your finances will determine if you can maintain the home
      • An Excel Sheet became Chi Chi’s tool for her finances
      • The journey to homeownership takes some sacrifices
      • People come up with excuses
      • Make a simple budget
  • [19:43] – Chi Chi talks about how she changed her living circumstances to meet the $25K she needed for a condo
    • Writing down how much you need
    • Goals can be boring but doing them will make you go for them more
    • For me, I had to scrape that money together”
  • [22:57] – Kyle talks about the clients he had the other day
    • They worked backwards and found out it won’t work for them at the moment
    • Having a down payment for a home is not enough
    • Save up money using bills as guides
  • [24:54] – The Practice
    • The struggle when a person doesn’t “practice”
    • Financial literacy is IMPORTANT
    • What your parents did is NOT your story
    • Know what you’re getting yourself into
    • Your story, habits, and what you like are important factors to consider
    • Be realistic on what you’re getting for your money
  • [32:26] – Taking advantage of the opportunity
    • Do it informed
    • Start early to invest in property
    • Chi Chi shares how she paid off her home
    • Kyle talks about how his client was able to own 2 houses without a mortgage
    • Know the options available to you
  • [37:03] – The premise of Chi Chi’s book
    • Owning a home is possible but with sacrifices
    • Work backwards: start with the goal and break it into smaller steps
  • [39:39] – Finding the right lender
    • Work with someone who’s going to help you understand the numbers
    • Know your mortgage documents
  • [42:53] – The book’s main theme: Education and Making an Informed Choice
    • Be honest enough to look at your finances
    • Ask people around you about their experiences
    • Write down where you want to get to
  • [46:15] – Get a copy of Chi Chi’s book at: https://www.amazon.ca/Strapped-Little-Financial-Support-ECONOMY-ebook/dp/B01CE4RCRS
  • [48:00] – “You have to be prepared”


  • Buying a house is one of the biggest financial decisions you will make in your life so educating yourself is the key in owning a home.
  • Don’t be afraid to ask a realtor on what can possibly work for where you’re currently at, financially.
  • Your story and spending habit play a role in your financial capacity to pay a home.
  • Be clear on what goal you want to achieve and work backwards.
  • Be honest in looking at your finances — your numbers don’t lie.

Mentioned Resources:

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