How Ready Are You to Buy Your First Home in Canada?

Discover your true readiness level for Canadian homeownership. In just 4 quick questions, we'll assess your financial preparation, market knowledge, and strategic planning. Get a personalized evaluation that reveals exactly what you need to focus on before making your purchase—plus a custom action plan delivered straight to your inbox.

Where are you in the mortgage pre-approval process?

I haven't looked into pre-approval yet—I'm still exploring the idea of buying I've researched pre-approval but haven't taken action or contacted a lender I'm in conversations with a mortgage broker or bank about pre-approval I already have a mortgage pre-approval letter in hand

How much have you saved for your down payment relative to your target?

I'm still saving and haven't set a specific down payment target yet I have 0-25% of my target down payment saved I have 25-75% of my target down payment saved I have 75%+ of my target down payment saved and ready to deploy

How well do you understand the total cost of homeownership beyond the mortgage?

I mainly think about the mortgage payment—I'm not sure what else is involved I know there are other costs like property tax and insurance, but haven't calculated them I've estimated property tax, insurance, and utilities for homes I'm considering I've calculated my total housing costs and confirmed they're within 32% of my gross income

How prepared are you for the home inspection and closing process?

I'm not familiar with home inspections or closing costs yet I know these steps exist but haven't researched what they involve or how much they cost I understand the basics and have a rough idea of closing costs (1.5-4% of purchase price) I've budgeted for closing costs, understand inspection importance, and have contacted a real estate lawyer

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