{"id":418599,"date":"2025-12-02T03:24:35","date_gmt":"2025-12-02T03:24:35","guid":{"rendered":"https:\/\/www.europesays.com\/us\/418599\/"},"modified":"2025-12-02T03:24:35","modified_gmt":"2025-12-02T03:24:35","slug":"how-this-couple-bought-a-950000-mississauga-home-after-three-years-of-saving-in-a-halal-wealthsimple-portfolio","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/418599\/","title":{"rendered":"How this couple bought a $950,000 Mississauga home after three years of saving in a halal Wealthsimple portfolio"},"content":{"rendered":"

Open this photo in gallery:<\/a><\/p>\n

Illustration by Diana Bolton<\/p>\n

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.<\/p>\n

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 \u2013 a stand-alone unit in a Mississauga condominium community \u2013 with a driveway and garage. They bought it in January, 2025, and took possession in April. <\/p>\n

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.<\/p>\n

They invested their money in a tax-free savings account, registered retirement savings plan and first home savings account within a halal Wealthsimple portfolio<\/a>, which is designed to avoid investments tied to industries such as alcohol, gambling and interest-based finance.<\/p>\n

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 \u2013 while staying true to those principles.<\/p>\n

When the couple first began looking, home ownership felt like a distant dream. \u201cIt always felt out of reach and impossible. But somehow the cards fell into place for us,\u201d she said.<\/p>\n

They didn\u2019t receive an inheritance, but living with their parents before marriage allowed them to start without student debt.<\/p>\n

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.<\/p>\n

\u201cWe started building potential budgets from there,\u201d Amina said.<\/p>\n

When it came to getting a mortgage, the couple said they didn\u2019t 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.<\/p>\n

They went with a fixed rate because as Muslims, they value certainty and predictability. \u201cThe more predictable you can make it, the less you\u2019re kind of gambling,\u201d Amina said.<\/p>\n

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\u2019s diversity and proximity to her partner\u2019s work. Grocery stores, parks and schools are all within a short drive.<\/p>\n

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\u2019t know existed when they began searching.<\/p>\n

\u201cIt\u2019s not too big and not too small, so I\u2019m not overwhelmed,\u201d Amina said.<\/p>\n

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.<\/p>\n

\u201cWe also did the math to see what it would look like if I went on maternity leave and got EI,\u201d she said. \u201cWe purposely left a buffer in our account because we know we\u2019re going to have to draw on our savings.\u201d<\/p>\n

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.<\/p>\n

The couple\u2019s housing costs have roughly doubled since buying, but they still manage to save 20 per cent of their income.<\/p>\n

They don\u2019t see it as a \u201cforever home\u201d but are happy there for now. Emotionally, becoming a homeowner felt a little surreal for Amina. \u201cI felt like we were playing house for a bit.\u201d<\/p>\n

Down payment: <\/b>$115,000 (around 12 per cent)<\/p>\n

Closing costs:<\/b><\/p>\n