I've worked with hundreds of first-time buyers across Canada, and the same mistakes keep coming up. Here's what to watch for:

1. Not getting pre-approved BEFORE house hunting

Most people start browsing listings first. Wrong order. Get pre-approved so you know your real budget — not what you think you can afford.

2. Only comparing posted rates

The rate your bank advertises is almost never the best you can get. Mortgage brokers have access to 30+ lenders. A 0.25% difference on a $500K mortgage saves you over $25,000.

3. Forgetting about closing costs

Land transfer tax, legal fees, home inspection, title insurance — budget an extra 1.5-4% of the purchase price. In Ontario alone, a $600K home means ~$8,000-$24,000 in closing costs.

4. Not using the First Home Savings Account (FHSA)

If you're under 71 and a first-time buyer, you can contribute $8,000/year (up to $40,000 lifetime) tax-free. It combines the best of an RRSP and TFSA. Most people don't even know it exists.

5. Rushing into a fixed rate without considering variable

Fixed rates feel safe, but depending on where we are in the rate cycle, variable can save you tens of thousands. It depends on your risk tolerance and timeline.

If you're a young professional in Canada thinking about buying your first home, I help people navigate exactly this. DM me or check out my consultation — happy to answer questions here too.