Before You Begin Your Home Search, It is a Good Idea to Know How Much You Can Afford.

How much is your downpayment?  If your downpayment is less than 20% of the purchase price, you will need to know what your CMHC premiums are.

What is the maximum mortgage you are pre-approved for?  Make an appointment to see your mortgage representative and find out.

How much can you pay towards your mortgage on a monthly basis?  Don't forget to include your property taxes.  And if you are purchasing a condo, make sure you also account for the monthly maintenance fees.

What are the costs involved when you buy a home?  Costs like lawyer fees, home inspection costs, land transfer taxes, appraisal fees (if applicable), etc...

It helps to be prepared before you buy! 

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