Donna Boyne (780) 876-0054

Josh Boyne (780) 978-5674

Buyer Information

How Much Can I Afford? 

At some point, you are going to be asked "What price range of home can I afford?" The answer to that depends on a few things.

Factors That Affect the Affordability of a Home


Subdivision? Which side of town? Out of town? Rural area? How far from Grande Prairie?

Your Desired Type of Home

House? Duplex? Manufactured Home? Townhouse? Condo? Acreage? New or Resale? There is a ton of options you'll want to browse.

Your Income

All in all, it's not only the mortgage you have to budget. Every home comes with property taxes, utilities and some have condo or lot fees. As general guideline, your monthly home-carrying costs should not be above 30-35% of your income.

Market Conditions

Better for buyers, sellers or is it a balanced market?

Keep in mind there will be other expenses. It's a best to budget the numbers and figure out exactly what you are able to afford before you start looking. This will help prevent you being stressed and overwhelmed with bills once you've moved into your dream house. Stay within your price range. The more thought you've put into it, the better the sales representative can fulfil your needs.

A great way to determine what you can afford can be done by making an appointment with a bank or mortgage broker and getting a pre-approved mortgage. There are many different mortgages and a variety of terms. Evaluate your options, based on what fits your lifestyle. This allows you to know exactly where you stand and not have any suprises when it's time to write an offer.

Once your monthly expenses and affordability are figured out, you can begin your search. Sometimes it's the first couple homes you see when you find the one; or you may look at home after home and none spark your interest. Let me assure you, it is out there and when you find it, you'll be all set to write an offer. If we are able to come to an agreement than we progess onto closing and moving into your new home.

Purchasing a home can be easy—you just have to put your plan into action.