{"id":40530,"date":"2017-12-07T12:34:21","date_gmt":"2017-12-07T19:34:21","guid":{"rendered":"http:\/\/saitjournalism.ca\/?p=40530"},"modified":"2021-02-07T20:09:57","modified_gmt":"2021-02-08T03:09:57","slug":"low-pay-student-debt-have-sait-grads-choosing-to-rent-a-place","status":"publish","type":"post","link":"https:\/\/saitjournalism.ca\/thepress\/2017\/12\/07\/low-pay-student-debt-have-sait-grads-choosing-to-rent-a-place\/","title":{"rendered":"Low pay, student debt, have SAIT grads choosing to rent a place"},"content":{"rendered":"

A<\/span>s the cost of buying homes continues to rise in Calgary, Business Administration students graduating from the SAIT program in 2018 are leaning toward the rental market, at least for a few years.<\/p>\n

S<\/span>tudents graduating from this two-year program say despite their training in navigating the world of business and finance, they aren’t ready yet to jump into the housing market.<\/p>\n

\u201cI\u2019m renting right now and I plan to continue that upon my graduation, at least for some time,\u201d said Sol Digaoan.<\/p>\n

In an ideal world, Digaoan said she would like to own a home in Calgary within five years.<\/p>\n

But the uncertainties of the job market, and the cost of housing, have given her pause.<\/p>\n

\u201cI wouldn\u2019t want to take on the responsibility and maintenance of owning a home without a stable job and feeling like I have matured a bit,\u201d said in a recent interview.<\/p>\n

 <\/p>\n

\u201cI won\u2019t move out from my parents after I graduate,\u201d said Newton Galicia.<\/p>\n

\u201cI want to give myself the time to save up and be able to buy once I do leave.\u201d<\/p>\n

Galicia said he plans to become a homeowner in Calgary in the next five to seven years, but not right away.<\/p>\n

Bruke Alemayhu said that he too plans to stay at his parents’ place upon graduation, and for quite some time.<\/p>\n

\u201cI will aim to save and move out five years after graduation, but I still probably won\u2019t buy right away when I do,\u201d he said.<\/p>\n

\u201cI want to figure everything out. I\u2019m kind of fed up with this place.\u201d<\/p>\n

Alemayhu said he would love to move to Vancouver or Toronto, but knows that his chances of buying a home are much better in Calgary.<\/p>\n

Piper McArthur agrees with the majority of young students plan on renting for a while after graduation.<\/p>\n

\u201cI will be at a starting salary at my office for the first year out of school, and I am uncertain where I want to settle location-wise,\u201d said McArthur.<\/p>\n

Paying off her student debt was something McArthur took into consideration in deciding to rent for now.<\/p>\n

Adriana Kazic will be doing some traveling once she graduates and has no plans to purchase a home within the next few years.<\/p>\n

\u201cI don\u2019t want to tie myself down to one place just yet. There is still a lot of traveling I plan on doing and I\u2019d like to get work experience in different cities first,\u201d she said.<\/p>\n

On the other hand, Bryce Whittingham plans on buying a home before graduation.<\/p>\n

\u201cFrom a very early age, I was taught the importance of saving for the future,\u201d said Whittingham.<\/p>\n

\u201cI came to the belief that renting is just paying someone else\u2019s mortgage and what a waste of hard earned money that is.\u201d<\/p>\n

Whittingham made a of point of understanding the importance of building equity in a home early on because of the potential benefit it can bring in the future.<\/p>\n

\u201cBut this is not to be misunderstood with the fact that sometimes renting is the more practical option on a short-term basis,\u201d he said.<\/p>\n

Many students also are worried about the direction the housing market is headed.<\/p>\n

\u201cI\u2019m not so concerned about never owning a home, but rather with the recent changes in mortgage money lending rules,\u201d said Whittingham.<\/p>\n

Whittingham is concerned about the quality of home he will be able to afford because of the recent change and tougher conditions for obtaining a mortgage in Canada.<\/p>\n

Jason Mendez, a senior financial advisor for Scotiabank, believes that the sooner one is able to buy, the better off they will be.<\/p>\n

\u201cOwning a home is simply not as easy as it was 10 or 15 years ago,\u201d said Mendez.<\/p>\n

\u201cBuying when you graduate allows you to build up equity faster, a lot faster than if you decided to rent,\u201d he said.<\/p>\n

\u201cHowever, there are factors that would make renting more appealing to young graduates, including mobility and cost,\u201d Mendez added.<\/p>\n

Mendez said that mobility makes it easier for you to seek employment opportunities and that owning would not allow you the same option.<\/p>\n

\"\"
FINALLY… SOLD!: <\/strong> This home on 10a Street N.W. in Kensington was torn down and remodelled in 2016. Not too long after, it has already been put up for sale! Taking a few months, and a couple decreases in the asking price, this home has finally sold.\u00a0(Photo by Alexa Warren\/The Press)<\/figcaption><\/figure>\n","protected":false},"excerpt":{"rendered":"

Students graduating from the two-year Business Admin program at SAIT share their thoughts and opinions on the best financially when it comes to buying versus renting in the city of Calgary. [ READ MORE ]<\/a><\/p>\n<\/div>","protected":false},"author":389,"featured_media":40538,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"image","meta":{"_ef_editorial_meta_text_assignment-slug":"S4 Buying vs. Renting","footnotes":""},"categories":[2],"tags":[],"class_list":{"0":"post-40530","1":"post","2":"type-post","3":"status-publish","4":"format-image","5":"has-post-thumbnail","7":"category-campus-2","8":"post_format-post-format-image"},"_links":{"self":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/40530","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/users\/389"}],"replies":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/comments?post=40530"}],"version-history":[{"count":14,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/40530\/revisions"}],"predecessor-version":[{"id":41688,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/posts\/40530\/revisions\/41688"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/media\/40538"}],"wp:attachment":[{"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/media?parent=40530"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/categories?post=40530"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/saitjournalism.ca\/thepress\/wp-json\/wp\/v2\/tags?post=40530"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}