Buying a Home

  • You’ve found a great job
  • You’ve saved up a down payment
  • Let us help you with the next steps!
Helping Hand

Maybe you’re ready to start a family, maybe you’re tired of renting, maybe you’re tired of living with your parents and tuna noodle casserole night has become redundant.

No matter the reason, owning a home is one of the most important investments you will make. Not only does it scream, “I am officially an adult!”- it enables you to have a forced savings plan. Each month, your mortgage payment reduces the amount owing on your mortgage.

Not only does this pay down your mortgage- you also get to reap the rewards of natural appreciation (AKA your home value increasing without any work from you). Home prices fluctuate up and down, but historically home prices will climb about 3.5% per year in Canada over the long term. At that rate, the value of your home will double every 20 years!

How much money do I need to buy a house?

You will need to save at least 5% of the purchase price to buy house. This is called your down payment. Without that cash to put down on your home purchase you can’t move forward. So, if you desire to buy a house but don’t have the down payment, get saving! You’d be surprised how quickly you can save that when you focus on it.

Am I ready to buy a house?

Great question! To answer this, let me ask you a few questions. (Didn’t see that coming, did ya?)

  • Can you see yourself living in certain location for the long term?
  • Do you have stable employment?
  • Do you make enough money to handle not only the mortgage payment, but all the other costs that come along with buying and owning a house?
  • Are you ready to handle all the work that comes along with owning a home?

If you answered yes to these, I’d say you're ready to buy a home!

Is now a good time to buy a home?

If you plan on living somewhere long term, it makes sense to buy a home – In my humble opinion. 

Sure, the value may go down in the short term - but historically home values always increase over time. 

Should I buy a house or a condo?

To answer that, we should look at the pros and cons of each.

Pros of Buying a House:

  • Buying a house and the land it sits on tends to appreciate more in value
  • Complete control over renovations
  • You’ll have a yard to entertain friends and family
  • More parking
  • Privacy – You won’t have to listen to your neighbor learn to play Nirvana on his guitar 80 times a day. No shared walls!
  • No condo fees or cash calls (special assessments)
  • No permission needed to have a pet

Cons of Buying a House:

  • Homes are more expensive than condo’s
  • To own a house, you will most likely have to live in the suburbs
  • Costs of insurance, utilities and upkeep are higher with a house
  • There is a lot more work involved with owning a home

Pros of Buying a Condo:

  • Less initial cost to buy a condo
  • Downtown living – closer to shops and restaurants
  • Less maintenance – when you buy a condo, you only take care of what’s inside your unit
  • No yardwork
  • Less upkeep, utility and insurance costs
  • Security – higher end condos have a concierge to watch the entrance

Cons of Buying a Condo:

  • Condo fees
  • There could be cash calls from owners to help pay for unseen repairs to the building
  • Less market appreciation
  • Space – generally speaking, you’ll have less living space in a condo
  • Less privacy
  • No yard
  • Pet restrictions
  • You may have to put your pet pot bellied pig on an elevator when nature calls

See our page on buying a condo for more.

Does my purchasing team need to be in the same city in which I’m buying a home?


With everything done online these days, you get the benefit of working with the best team for buying a house – even if their office isn’t in your city or town with the exception of your realtor. 

Realtor – They absolutely need to be an expert in the city of your purchase.

Lawyer – Needs to be in the same province as your home purchase.

Mortgage Broker – You can use our amazing broker - no matter what province your buying in.

What are the steps to buying a home?

Check out our step-by-step guide to the home buying process.

Looking for more information? Get personalized advice from our team!