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Affordability key when buying first house

Thinking ahead: planning is crucial as a first-time buyer
Written by Heather Chilvers (Royal Gazette article)

Dear Heather,

How much home can I afford to buy? I am tired of renting, and I want to buy a house. My bank says I qualify to buy a home for $400,000, but I am worried if something breaks, I won’t be able to afford to fix it, plus make my mortgage payment. How can I make sure I won’t get in over my head?"

Potential Buyer

Dear Potential Buyer,
You appear to be an intelligent first-time homebuyer — a buyer who thinks ahead — and that’s good. It’s smart to consider affordability before signing that purchase contract and plunging into debt. [READ MORE]