Should I Hold Off On My First Rental? High Prices

[Conor Williams]

Hi guys,

Ive been saving up for a down payment on my first rental. I want to put down 20% so i can have lower mortgage payments and increase cash flow as opposed to 5% (let me know if this is a good idea or not).

The huge difference in US and Canadian home prices and all this talk of the real estate "bubble" in Canada makes me pause though.

I wonder if it is the large metro areas like Toronto and the GTA skewing the numbers and if the smaller mid range communities will suffer a smaller price correction.

Im looking in the Ktchener/Waterloo area and wonder if prices are too high right now? Or if it is an okay time to buy?

Thanks!