BUY · What can I afford?
Know what you can comfortably afford.
Qualification matters, but the better question is what price fits your financing, cash needs, monthly comfort, and plans after possession.
Buying power
Approval is a ceiling. A plan defines the right range.
A mortgage pre-approval is essential, but it is not the complete budget. Property transfer tax, legal fees, inspections, adjustments, moving expenses, strata costs, and near-term repairs all affect the cash and monthly commitment.
Before the search
Build the decision framework first.
- Confirm funds and financingSeparate the down payment from closing costs, reserves, and planned improvements.
- Choose a comfortable rangeBalance the lender’s maximum with the monthly payment and lifestyle you want to protect.
- Define property trade-offsCompare location, housing type, condition, strata obligations, and future flexibility.
- Prepare for due diligencePlan how you will evaluate documents, inspections, financing, and terms before committing.
Frequently asked questions
Useful context before we talk.
Is a mortgage pre-approval the same as a comfortable budget?
No. A pre-approval helps define a financing ceiling, while a comfortable budget also considers monthly cash flow, closing costs, reserves, property costs, and the lifestyle you want to protect. A lender or mortgage professional should confirm financing details.
What costs should I plan for beyond the down payment?
Depending on the property and your situation, planning may include property transfer tax, legal fees, inspection costs, adjustments, moving expenses, insurance, strata costs, and near-term repairs. The actual amounts should be confirmed before committing.
When should I begin working with a real-estate professional?
It is useful to begin before active viewings, when there is time to clarify priorities, financing, likely costs, and due-diligence needs. Starting early does not require you to purchase before you are ready.
A practical next step
Understand your practical buying power.
Begin with your priorities and current financial picture. The first conversation is for orientation—not a detailed qualification form.
Discuss my buying plan