Your Introduction To Entry Level Home Ownership


At 26 years-old, I, like you, am a young professional.

I navigate my daily life on a limited budget in the bustling city of Toronto against the temptation of endless entertainment options and the overhead burden of knowing I should be saving for a down payment.

I wasn’t always able to turn down dinner outings or resist the temptation of another pair of shiny shoes, but the direction of my professional life started to take over my personal one.

“Buying a home is the likely the largest and most important financial decision you will make in your lifetime. How you go about doing this is a subject I am happy to guide you through.” —Alyssa Richard, Founder,

A year and a half ago I founded a website that, in addition to comparing the best mortgage rates in Canada, provides online resources and mortgage education to first-time home buyers. So, I have to practice what I preach!

Buying a home is the likely the largest and most important financial decision you will make in your lifetime.

You should save early and often. How you go about doing this is a subject I am happy to guide you through. Should you be saving or investing? How much? And in which instruments? These are questions we all face and I hope to provide some insight on in blogging for TalentEgg.

How did I get here?

Quite simply, I saw an opportunity and I took it. Like many entrepreneurs, I didn’t realize the full extent of what I was getting in to. I observed the online mortgage market was under-served, with 9 out of 10 first-time home buyers searching the web for mortgage information , and only a handful of competitors serving them. I also saw an opportunity to provide transparent and comprehensive mortgage education, a ‘one-stop’ resource for rates and education, if you will.

Whereas lenders and financial providers do provide limited information, it is often self-serving, and, thus, not complete or transparent. As an information aggregator, RateHub is able to fill that information gap.

I became aware of the online mortgage market while working as a management consultant at Bain & Company, where I worked primarily on projects in the U.S. financial services industry. There were a number of players in the U.S. providing mortgage rate comparisons, but not so in Canada. Prior to this, I graduated from the Queen’s School of Business in Kingston, Ont.

Now to the point of this introduction: what makes me qualified to give you financial advice? Running a start-up has forced good spending habits upon me, and a constraint to do things at the lowest cost possible. I cut my rent in half, started cooking meals and quickly learned to live on a very small salary so I could invest in my business. Running a start-up has increased my understanding of personal finance while RateHub has brought on a deep understanding of the ins and outs of buying a home.

Like you, I am young and ambitious with limited resources and conflicting priorities. The one priority I can help you get a hold on, however, is the process of preparing for home ownership.

Until next time!

Photo credit: House #2 – Dining by h&b on Flickr
About the author

Alyssa Richard is the founder of, a website that compares the best mortgage rates in Canada. In her 20s, Alyssa is a driven young entrepreneur with a wide range of interests spanning from technology trends to kitesurfing. Her experiences in the financial services industry and now running a start-up in the mortgage space have provided her the opportunity to give personal finance advice on platforms like TalentEgg.