Step one: Turn down the noise.
News, TV, radio, social media—even well-meaning family members. Rate headlines are like fast food: quick, loud, and rarely nourishing.
You can’t control what’s happening in the world.
But you can control the factors that actually matter when deciding whether to buy your first home, sell and move up, or make a change.
Here’s what should drive your decision:
1. Do you have stable employment?
2. If you’re buying with a partner, is your relationship in a good place?
3. Are there any major life changes coming (new city, job change, growing family)?
4. Do you have money saved for a down payment?
5. Would owning a home leave you financially stretched?
Where to start:
1. Build a clear budget of your current expenses.
2. Compare that to your take-home pay.
3. Identify areas to trim back if needed (dining out, takeout, impulse spending).
4. Add an emergency fund and let it grow over time.
This is strictly for home-related surprises—HVAC repairs, plumbing issues, roof replacement, etc.
A good target is 1.0%–1.5% of the home’s purchase price which is saved each year and repeated. Note, this should be on top of your existing savings plan.
5. Book a time to chat with me. I’ll walk you through my pre-approval process, so you understand exactly how everything works around mortgages.
6. Once you’re pre-approved and your documents are in place, plug in the numbers one last time—then call your favourite realtor.
Bottom line:
Don’t let every rate announcement push you into stress. The right time to buy isn’t based on headlines—it’s based on your financial stability, life plans, and comfort level.