Critical thing to note about FHSA: It's for 1st Principal residence only not investment property. and if you dnt decide to buy house in Canada/ decide to move out of canada then amount in FHSA would be taxable(exit load). Though i agree FHSA is good option if you decide to settle in Canada. There might be other things e.g. capital gains etc. when you sell this property.
Great video. It might be a great plan on paper. However, there are quite a few things that I personally things were missed/not talked about. Car maintenance (could be $1000-$2000 per year), Gas ($60-$80/month), we're also not including any medical expenses whether dental or any other kind as not all insurances cover 100% of the claims, plus wearing the same clothes for 3 consecutive years, you're also not eating out or going out with your friends much, any unexpected/miscellaneous expenses like moving house or towing car somewhere, etc. and the biggest thing is that, you're not going to your home country for a visit in 3 years. So, when we add all of them up, the saving drastically drops down. It looks great on paper, but I personally don't think it's achievable with just a 60K salary in 3 years. You would definitely need a side hustle in my opinion.
Unrealistic! You should also account for the misc expenses like travelling, shopping, etc and then emergency fund after making downpayment. 4-5 years with this kind of income seems more realistic.
Under 3 lac, one would get a house which is probably 50-100 years old and these houses may need a big repair which will be damn costly and may shake not only your budget but also your life.
I have had a conversation with couple of brokers and I cant confirm any indication which confirm mortgage approval with 60K pay. And not more than income*4? Not sure how realistic is the annual pay you considered to get mortgage approved.
But in 3 years, someone will also spend on other things like buying TV, clothes, shoes, subscriptions, internet connection, some travel. It’s almost impossible you don’t spend anything in 3 years. Unrealistic video