
Strategies for Stress-Free Home Buying
July 18, 2025
By Sarah Sumner
Strategies to Ease the Stress of Home Buying
Home buying made easier.
Are you in the market to buy a home, but aren't sure where to start? We may be able to help! Planning for this expense may help you be less stressed out and more prepared for homeownership. If you're considering buying a home, here are a few suggestions to help you properly plan for your investment.
1. Factor in all costs
Moving into a new home could mean a huge difference in expenses. When weighing your options, it's important to not only look at mortgage costs, but to consider all costs associated with moving and owning a home. These costs often go overlooked in the house-buying process but can certainly impact a monthly budget.
2. Consider mortgage affordability
After you calculate your total monthly costs of homeownership for a new home, factor this expense along with your other monthly expenses into your current income. If you come out negatively, try seeing if there are expenses you can cut. If you are nervous about your financial security with this new expense, try a test month or two living off this adjusted monthly budget.
3. Save up the 20% down payment
If you do not have this minimum down payment required for your home purchase, then it is mandatory to take out mortgage default insurance or CMHC insurance. This insurance is put in place to protect the lender in case the borrower defaults on the mortgage. In other words, you will be spending additional money on top of the interest you are paying for your mortgage.
4. Watch your credit closely
In the months leading up to a home purchase, do not take any actions that could negatively impact your credit score. This includes closing old credit accounts, opening new credit accounts, maxing out current credit accounts and making a large purchase like a new car. Moves like these can negatively hit your credit score, meaning your mortgage rate might increase.
Preparation is key
By preparing for the purchase of a house and knowing all that goes into the process, you can help yourself not get blind-sided by “surprise” costs or accidently hurt your credit. Take your time and ask questions, because this purchase won’t just be a house, it’ll be your home.