Avoid This Mistake When Shopping for a House

Diane Buchanan • May 16, 2019

No doubt about it, buying a home is an emotional experience. 

It’s a game of balancing needs and wants, while trying to be honest with yourself about those very needs and wants. It’s hard to get it right, figuring out what’s negotiable and what isn’t… what you can live with and what you can’t live without. House shopping tends to be more arbitrary than science, especially when you’re someone who makes decisions with your heart (sometimes at the expense of your head).

One of the biggest mistakes you can make when shopping for a house is to fall in love with something you can’t afford. Doing this almost certainly guarantees that nothing else will compare and you will inevitably find yourself “settling” for something that is actually quite nice (and would’ve been perfect, had you not already fallen in love with something out of your price range). 

Now, there is nothing wrong with dreaming, and taking a tour of new show homes to snap a few pictures to get some inspiration, but when it comes to the nitty gritty of buying a home, you should know exactly what you can qualify for, so that you can shop with confidence. You need a mortgage pre-approval. 

A pre-approval does a few things… 

  • It will outline your buying power. You will be able to shop with confidence knowing exactly how much you can spend. 
  • It will uncover any issues that might arise in qualifying for a mortgage (example mistakes on your credit bureau).
  • It will outline necessary supporting documentation so you can get those together ahead of time.
  • It will secure a rate for 30 to 120 days depending on your mortgage product.
  • It will save your heart from the pain of falling in love with something you can’t afford. 

Don’t make the mistake of falling in love with something you can’t afford, get a pre-approval before you start shopping, your heart will thank you. 

If you want to talk with me about your financial situation and nail down exactly what you can actually afford, please don’t hesitate to contact me anytime. This is what I do, and I’d love to work with you! 

DIANE BUCHANAN
 Mortgage Broker

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Bank of Canada Holds Rate at 2.25% — September 2, 2026

By Diane Buchanan • September 2, 2026
The Bank of Canada announced today that it is holding its target for the overnight rate at 2.25%, with the Bank Rate at 2.5% and the deposit rate at 2.20%. While Canada's economic recovery is broadening, a new layer of uncertainty has entered the picture. Here is what happened and what it means for your mortgage.

Going Through a Divorce? Don’t Let Your Credit Take the Hit

By Diane Buchanan • August 26, 2026
Going Through a Divorce? Don’t Let Your Credit Take the Hit Divorce is stressful enough without adding financial fallout to the mix. Between lawyers, paperwork, and emotional strain, it’s easy to overlook how a separation can impact your credit. But your financial future depends on protecting it now—because long after the dust settles, a damaged credit score can linger. Here are a few smart steps to help keep your credit strong and your finances steady as you move forward. 1. Take Control of Joint Debts When it comes to joint debt, both parties are equally responsible—no matter what your divorce agreement says. If your ex misses a payment on an account with your name attached, your credit takes the hit too. Go through all joint credit cards, loans, and lines of credit. Wherever possible: Close joint accounts to stop future shared use. Transfer balances to the person responsible for repayment. Notify lenders in writing of any changes to account ownership. Once everything is updated, pull your credit report after three to six months to confirm all joint accounts have been closed and reporting correctly. Mistakes happen—stay proactive to prevent surprises later. 2. Open Your Own Bank Accounts Separation means financial independence, and that starts with your own banking. Open a new chequing account in your name only and redirect your pay deposits and bill payments there. At the same time, close any joint bank accounts and change passwords on existing online banking and credit profiles. Even in peaceful separations, shared access can cause confusion—or conflict. Protect yourself by ensuring your money and information are secure. 3. Start Building Credit in Your Name If most of your past credit was tied to your spouse’s name, now’s the time to establish your own. Apply for a small personal credit card or secured credit product . Use it sparingly and pay it off in full each month. This helps you build a solid individual credit history, setting the stage for future goals like buying a home, refinancing, or starting fresh financially. 4. Keep an Eye on Your Credit Monitor your credit report regularly for errors or unexpected changes. You can request free reports from both major credit bureaus in Canada— Equifax and TransUnion —once a year. Tracking your credit isn’t just about catching mistakes; it helps you see your progress as you rebuild your financial independence. Final Thoughts Divorce can be emotionally draining, but protecting your credit doesn’t have to be complicated. By taking a few careful steps now—closing joint accounts, building credit in your name, and monitoring your reports—you’ll safeguard your financial health and gain peace of mind as you start your next chapter. If you’d like personalized guidance on managing credit during or after a divorce, reach out anytime. I’d be happy to walk you through your options.