Buying a home doesn’t start with house hunting, it starts with preparation. Taking the right steps before you begin can save you time, money, and stress later. If buying a home is on your horizon, here are 10 smart tasks to do now to set yourself up for success.
1. Check Your Credit Score
Your credit score plays a big role in the mortgage rate you’ll qualify for. Review your credit report early so you have time to correct errors and improve your score if needed.
Action Step: Pull your credit report and pay down high balances.
2. Create a Realistic Budget
Understand what you can comfortably afford, not just what a lender may approve.
Action Step: Factor in mortgage payments, property taxes, insurance, utilities, maintenance, and lifestyle expenses.
3. Start Saving for a Down Payment
The more you save, the more options you’ll have.
Action Step: Set up an automatic savings transfer dedicated to your home fund. First time home buyer: check out the Tax-Free Saving account (FHSA). $8,000 per year can be deducted from yearly income for tax purposes (as of 2026, check for updated amounts with your bank).
4. Build an Emergency Fund
Homeownership comes with surprises: repairs, maintenance, and unexpected costs.
Action Step: Aim for 3–6 months of living expenses in a separate account.
5. Get Pre-Approved for a Mortgage
Pre-approval strengthens your buying power and shows sellers you’re serious.
Action Step: Speak with a lender to understand your loan options and price range.
6. Avoid Major Financial Changes
Big purchases or job changes can affect your mortgage approval.
Action Step: Hold off on new credit cards, car loans, or career changes until after closing.
7. Research Neighborhoods and Home Types
Not all homes/locations are a fit for every lifestyle. Parks and recreation. Shopping convenience or acreage lifestyle. Single family vs townhome vs condo.
Action Step: Explore commute times, schools, amenities, resale value, and long-term needs. Create a checklist of your wants and needs we can talk about what areas fit your wants and needs the best.
Browse listings and neighbourhoods:
Or by area:
8. Declutter and Organize Your Current Space
Downsizing or preparing for a move is easier when you start early.
Action Step: Begin decluttering one room at a time to simplify your future move. First time buyers start collecting household items, label bins clearly to track what you have and what you will need.
9. Learn the True Costs of Homeownership
Owning a home is more than the purchase price.
Action Step: Budget for inspections, closing costs, maintenance, and ongoing repairs.
10. Assemble Your Home-Buying Team
The right professionals make all the difference.
Action Step: Research and connect with a trusted real estate agent and mortgage broker.
Preparation is power. By tackling these tasks early, you’ll be confident, informed, and ready when the right home comes along. I am here to help you through the process, give me a call/text at any point for a no pressure conversation. Chris Marshall 403-585-5362
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