The most useful number in a property search is the monthly cost you can comfortably carry. A lender’s approval is an important starting point, but your household budget determines how ownership will feel after moving day.

In its November 27 study, the QPAREB reported that single-family affordability had deteriorated across Quebec over the previous decade, with significant regional differences. For buyers, that makes the comparison between properties—and locations—especially important.

Start with the mortgage payment, then add municipal and school taxes, insurance, heating, electricity, condo fees where applicable, and a realistic maintenance allowance. Keep closing costs separate: inspection, notary, transfer duties, moving and immediate work all compete with your down payment for available cash.

An illustration: a $2,400 mortgage payment plus $350 in taxes, $150 in insurance, $200 in utilities and a $250 maintenance allowance totals $3,350 monthly. These are hypothetical figures, not a quote. The point is that the mortgage alone understates this budget by $950 a month. Obtain actual figures for each property before comparing it with another.

A less expensive home farther away may still be the right choice. Add the cost of another vehicle, parking, commuting and the time the move would require. Compare two complete living arrangements rather than two asking prices. A smaller home closer to work can sometimes fit your priorities better than a larger one farther away.

Before booking more visits, write down three limits: your comfortable monthly total, the cash you want left after closing, and the repairs you are willing to take on. Review the financing assumptions with your mortgage professional. I can then help narrow the search around properties that fit that plan, so each visit has a purpose.