A young couple living in Quebec City find themselves at a crossroads familiar to many residents: they want to start a family but are uncertain whether to buy a home now or continue saving while living in an affordable apartment.
Personal finances and plans
Benjamin, 28, works as a communications advisor for a construction company in Quebec City. He moved to the province after several years living and working elsewhere in Canada, citing a desire to reconnect with Quebec culture and to pursue a master's degree. He and his partner, Claire, have built a solid foundation: Benjamin earns $80,000 annually and Claire earns $65,000. The couple say they have cleared student loans and are now managing only a line of credit used to purchase a car.
| Item | Amount |
|---|---|
| Benjamin — annual income | $80,000 |
| Claire — annual income | $65,000 |
| Line of credit (total) | $19,000 |
| Monthly apartment rent (two-bedroom) | $1,300 |
| Savings and registered plans | $2,450 (savings), $19,000 (RRSP), $18,000 (FHSA) |
The couple live frugally in a two-bedroom apartment that costs $1,300 per month. Both pay about $1,000 toward the car line of credit each month. They have been saving: Benjamin has funds held in a registered retirement savings plan and a first home savings account, alongside modest cash savings.
Choices and concerns
Their question is straightforward but weighty: buy a larger home now to make room for children, or continue in their current rental to save more and reduce financial risk. As Benjamin put it,
“The housing market is less and less accessible even though we make good salaries. Should I do it now or just wait?”
The couple’s situation highlights several realities for families in Quebec City. On one hand, staying in a lower-cost rental preserves monthly cash flow and allows further accumulation of down-payment savings in accounts designed for first-time buyers. On the other hand, buying now could provide space for a growing family and potentially lock in a mortgage amid future price or interest-rate changes.
- Option: Keep renting — preserves current lifestyle and budget flexibility; allows continued saving toward a larger down payment.
- Option: Buy now — offers more living space and stability for raising children, but increases monthly obligations and exposure to mortgage rates and maintenance costs.
- Mitigating factors — government programs, tax-advantaged savings accounts and dual incomes can change the calculus for first-time buyers.
Local context without speculation
Quebec City’s historic neighbourhoods, which Benjamin says he loves, continue to attract newcomers and long-time residents alike. That cultural attraction is one of the reasons the couple moved back to the province. They paid off student loans quickly after graduation with government support and steady employment, a dynamic that has helped position them for the next stage of family planning.
But the couple’s worry — that housing is becoming less accessible despite solid salaries — resonates with many residents across age groups. The balance between affordability, family needs and financial resilience is a recurring theme for households deciding whether to enter the housing market.
For now, the couple are weighing the emotional importance of family and community ties against the financial reality of buying a home. Their choice will reflect not only their incomes and savings but also priorities about risk tolerance, lifestyle and where they want to raise children in Quebec City.
As they consider their options, they are not alone in seeking clarity on the best path forward: many young couples in the city face an analogous decision, trying to reconcile affordable living with the desire for more space and stability.
Whatever they decide, the question underscores how housing affordability and family planning remain tightly intertwined concerns for Quebec City residents.
