The Myplace Playbook // 062

Hey Everyone,

Last week I asked you to finish a sentence.

I'll buy when ________.

I wasn't sure what to expect. Maybe a handful of replies. Maybe a few "lol never" responses and a couple of unsubscribes.

What I got back was one of the most genuine batches of messages I've received since I started writing this newsletter.

So this week, no rate update. No market forecast. Just what you told me, because I think a lot of you will recognize yourself in someone else's answer.

All names removed. All replies used with the spirit they were sent.

"I'll buy when I have enough saved for a real down payment."

This was the most common answer. By a lot.

And I get it. The down payment feels like the finish line. The number you have to hit before any of this gets real.

But here's what I kept noticing: almost nobody who sent this answer could tell me what "enough" actually was. It was just more. A little more than they have right now. Which, if you're not careful, becomes a target you're chasing forever.

The math on this one is worth knowing: the difference between 5% down and 10% down on a $450,000 home is roughly $22,500. At the rate most people save, that's another 18 to 24 months of renting. During which time the market moves, rents go up, and the goalposts shift again.

I'm not saying jump in underprepared. I'm saying pick a specific number, build a specific plan, and stop letting "more" do all the work.

If you sent me this reply, what's the actual number? Hit reply again and tell me. I'll tell you how far away you actually are.

"I'll buy when rates come down."

A few of you sent this one. A couple with real conviction.

So I'll be straight: I don't know when rates are coming down. Nobody does. The Bank of Canada held again. Oil is still elevated due to the Iran conflict. The analysts who were calling for cuts earlier this year have gone quiet.

But what I noticed in these replies is that most people aren't waiting for a specific rate. They're waiting for a feeling. The feeling that the coast is clear. That it's officially a good time.

That feeling doesn't come from a rate announcement. It comes from running your own numbers and finding out the payment is actually manageable at today's rate. And that waiting another year mostly just means paying someone else's mortgage instead of building toward your own.

"I'll buy when my job feels more secure."

This one came up more than I expected. And I'll be honest, it gave me pause.

There's real uncertainty out there right now. Tariffs, shifting industries, a lot of people wondering what the next year looks like for their sector. I understand why stability feels like a requirement before making a big move.

But a mortgage doesn't require a perfect job. It requires documented, qualifying income. And for a lot of the people who sent this reply, what they have right now is probably enough. They just haven't had anyone confirm that yet.

If this was your answer, the most useful thing I can do isn't tell you things will be fine. It's run an actual pre-approval based on the income you have today and give you a real number. That's information. Everything else is just noise.

"I'll buy when the kids are older / when things settle down / when life calms down a bit."

I'll say this carefully: life doesn't really calm down. The mess just changes shape.

The family that waited until the kids were in school found out school boundaries mattered more than they thought. The couple that wanted to feel settled got a job offer in a different city. The person waiting for things to slow down got a promotion that made everything busier.

I'm not saying buy a house in the middle of a storm. I'm saying don't build your whole plan around a calm that may not arrive on schedule.

Sometimes the house is part of what makes things feel more settled. A fixed payment. A yard. A place that's yours. That's worth something.

"I don't know what I'm waiting for."

This was my favourite reply of the week.

Not because it's the easiest one to work with. Because it's the most useful one.

If you don't know what you're waiting for, you're not really waiting for anything specific. Which means the only thing between you and moving forward is a conversation that makes the numbers real.

One of the people who sent me this reply is booked in for a call next week. Not because I pushed them. Because once they said it out loud, they realized they'd been sitting on a decision that was already made.

What I took from all of this

Most of you aren't waiting for the market to do something. You're waiting to feel certain. And that certainty doesn't come from headlines or rate announcements.

It comes from knowing your actual number. Your real qualification. What your payment would look like. What your options are.

That's the conversation I want to have.

If you replied last week, thank you. If you didn't but recognized yourself in one of the answers above, that counts too. Either way, hit reply and tell me where you're at.

Enjoy the weekend everyone, it’s almost here!

-Andrew