Illustration by Diana Bolton
Amina and her husband started saving for a home right after their 2021 wedding, funnelling wedding gift money into what seemed like a distant goal. Three-and-a-half years later, their plan paid off.
Amina, a 29-year-old family lawyer, and her husband, a 31-year-old mechanical engineer, paid $950,000 for a three-bedroom, 2.5-bath detached home – a stand-alone unit in a Mississauga condominium community – with a driveway and garage. They bought it in January, 2025, and took possession in April.
The couple put down around 12 per cent after gradually building their savings over several years of fluctuating incomes, career breaks and grad school expenses. By 2024, their combined gross income had grown to $260,000, enabling them to put away 40 per cent into savings.
They invested their money in a tax-free savings account, registered retirement savings plan and first home savings account within a halal Wealthsimple portfolio, which is designed to avoid investments tied to industries such as alcohol, gambling and interest-based finance.
As a practising Muslim, it was important for Amina to know her money was growing in a way that aligned with her faith. The goal was to save $100,000 plus a $20,000 buffer – while staying true to those principles.
When the couple first began looking, home ownership felt like a distant dream. “It always felt out of reach and impossible. But somehow the cards fell into place for us,” she said.
They didn’t receive an inheritance, but living with their parents before marriage allowed them to start without student debt.
The couple attended open houses in 2024 to get a sense of what was realistically affordable, beyond the purchase price. Their mortgage broker shared an Excel spreadsheet where they could plug in utilities, insurance and taxes.
“We started building potential budgets from there,” Amina said.
When it came to getting a mortgage, the couple said they didn’t have the time or patience to shop around. They used a mortgage broker and signed a five-year fixed-rate mortgage at 3.89 per cent, amortized over 25 years, with biweekly payments of $2,245.
They went with a fixed rate because as Muslims, they value certainty and predictability. “The more predictable you can make it, the less you’re kind of gambling,” Amina said.
Originally, they focused their search in Toronto, but higher prices and the land transfer tax made it unfeasible. Mississauga offered better value for their budget and more space for what they needed. Amina finds comfort in the area’s diversity and proximity to her partner’s work. Grocery stores, parks and schools are all within a short drive.
They ultimately bought a detached condo, a type of stand-alone house within a condominium community that comes with a small maintenance fee to cover services such as snow removal and sewage, a set-up they didn’t know existed when they began searching.
“It’s not too big and not too small, so I’m not overwhelmed,” Amina said.
To achieve their goal, she and her husband treated saving like a shared project. In the years before buying, they chose a modest wedding ring and apartment, and drove a fuel-efficient hybrid car with low payments. Sometimes, a $5,000 bag caught her eye, but Amina chose to prioritize upcoming mortgage payments instead.
“We also did the math to see what it would look like if I went on maternity leave and got EI,” she said. “We purposely left a buffer in our account because we know we’re going to have to draw on our savings.”
The couple is expecting their first child in January, 2026, and plan to stay in their home for at least five years. The space allows them to host family, grow their household and build equity without feeling too stretched.
The couple’s housing costs have roughly doubled since buying, but they still manage to save 20 per cent of their income.
They don’t see it as a “forever home” but are happy there for now. Emotionally, becoming a homeowner felt a little surreal for Amina. “I felt like we were playing house for a bit.”
Down payment: $115,000 (around 12 per cent)
Closing costs:
Legal fees: $2,000Land transfer tax: $11,500Sales tax on mortgage insurance: $2,070Title insurance: $950Moving expenses: $500
Ongoing costs:
Biweekly mortgage payment: $2,245Monthly condo maintenance fees: $200
Their advice for aspiring homeowners: There’s this rhetoric that you can’t buy if you don’t have help from your family. We started from a place of privilege because we lived with our families and we have good jobs and no debt. It’s not impossible.
Some details may be changed to protect the privacy of the people profiled. Are you a first time homeowner who would like to share their story? Send us an e-mail.