A home inspection is the next line item most first-time buyers forget to budget, typically $400 to $600, and it is money well spent before removing a condition rather than after possession, when a problem can no longer be negotiated into the price.
Saskatchewan also charges PST on the CMHC, Sagen or Canada Guaranty insurance premium itself, due at closing rather than added to the mortgage, so it needs to be part of the cash-on-hand number and not an assumption baked into the loan. Lenders also check that housing costs stay within roughly 39 percent of gross income and total debt within 44 percent before approving anything.
Joel Dyck can walk a buyer through what their specific savings realistically buy in today's market before they start touring homes rather than after falling for one out of range. Get your hand-reviewed valuation from Joel Dyck.