The Globe and Mail published an article a few weeks ago on tips for first-time buyers. In a nutshell: don’t overspend on furniture or “unnecessary” remodelling; don’t ignore important maintenance; hire qualified people if you do need to do repairs; get help with your taxes; and be properly insured.

There is no magic formula for getting into the housing market. This article covers all of the basics that you should be aware of. Buying your first home can be very exciting, but because it is your first home you might have the urge to fill it up with nice new things. That piece of advice, plus getting help with your taxes, would be my top two points to take away from this article, but it is worth a read (as with a lot of other articles from Investopedia). You shouldn’t lose your enthusiasm for buying your first home, but don’t get so carried away that you risk losing the home.