Start with your real budget
Before you tour a single home, get pre-approved and run your numbers through an affordability check. With the stress test in play, the mortgage you qualify for is smaller than your contract rate alone suggests — knowing your true ceiling keeps you from falling for a home you cannot finance.
Build your budget around the payment you are comfortable with, not the maximum a lender will approve. Leave room for property tax, insurance, and maintenance.
Use the season's extra inventory
Summer brings the most listings of the year, and 2026's more balanced market means less pressure to waive conditions. Take the time to include financing and inspection conditions in your offer rather than skipping them to win a bid.
More choice also means more leverage. Well-priced, move-in-ready homes still move quickly, but overpriced listings are sitting — use that to negotiate.
Don't forget the closing costs
The down payment is only part of the cash you need. Budget for land transfer tax, legal fees, a home inspection, title insurance, and a moving allowance. In most provinces, land transfer tax alone can run into the thousands.
Run any serious property through a full payment breakdown so the monthly number you plan around is the number you will actually pay.
The bottom line
A successful summer purchase is mostly preparation. Lock your budget, get pre-approved, keep your conditions, and account for every closing cost — then enjoy the larger selection the season offers.
