Calgary first-time buyer: is C$22,950 enough cash left after closing?

[MinaGale]

If I underestimate the first-year costs, the C$22,950 left after my deposit and estimated closing expenses could disappear quickly. I am looking at a 1-bed detached home in Calgary priced around C$1,181,000.

The inspection is lengthy, although the house appears fundamentally sound and some findings may be routine rather than urgent. Before allocating money to moving, repairs, furniture and an emergency reserve, what should I ask the inspector to classify as immediate, preventative or optional? I also need to allow for the first mortgage payment and insurance excess rather than treating the entire balance as available for work.

 

[yuki.river]

C$22,950 would feel tight to me unless the inspection items are mostly optional and your income can rebuild the fund quickly. Before dividing it up, list the genuinely urgent repairs, moving expenses, insurance excess, first mortgage payment and any service charges that actually apply. Keep the emergency portion untouched, then delay nonessential furniture. Also ask the inspector which findings affect safety or prevent further damage; a long report does not mean every item needs doing in year one.