How does anyone afford a $2 million house in the GTA?

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Dual income, often previous homeowners who rode the crazy price appreciation over the last couple of decades. I bought my first condo for 300k and sold it for $700k a decade later. You have two people in a similar situation and suddenly you have $700-900k for a downpayment and then $1.1-$1.3m mortgage.

If you’re both making $150-$200k then a HHI of $300-400k will cover that mortgage.

Plus a lot of folks get family help.

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Bank of Mom and Dad, inheritance, plus 2 good jobs or one super-high earner that allows them to service the loan. Need HHI over $300k. $400-$500k is more realistic.

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2 MM you need to really have family wealth or own property already, otherwise a really high HHI

My HHI is 350k and our ceiling was 1.2

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HHI is really the only way. Yes some inheritance helps, but unless parents are giving $700k+ for down payment, you’d still have a very high mortgage to service. We just recently bought a $2.2M house, are in our early 40s, and have a HHI or $650k+.

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Study hard in school, get a high paying job. save for a few years, pay cash as any other purchases in life, not sure I understand the question.

Work really hard. I bought a 2.5 million house with 3 years of savings but worked like crazy. No inheritance or wealth from previous homes. Have a HHI of 800k on avg.

Just need 2 people making $400k each and you’re good.

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