How much of a C$37,800 post-closing buffer should stay untouched?

[rue_leases]

First-time buyer in Montreal, with closing 105 days away. After the deposit and estimated closing costs, I should have about C$37,800 left if I buy the 5-bed detached home I’m considering at roughly C$1,174,000.

I’m trying to divide that money sensibly between an emergency fund, movers and service charges, inspection-related repairs, and basic furniture. I also need to allow for the insurance excess and first mortgage payment. Would you set fixed amounts now, or wait for the inspection before deciding? I’d rather buy below my maximum than have every ordinary first-year repair become a crisis.

 

[cairn.common]

I wouldn’t assign much to furniture yet. Ring-fence the emergency fund and known moving/closing expenses first, then let the inspection determine the repair allocation. A 5-bed house can absorb cash quickly even when none of the findings is dramatic.

One missing detail is whether C$37,800 remains after the first mortgage payment and insurance are actually paid, rather than merely estimated. If not, your usable repair buffer is smaller. I’d make three lists before closing: unavoidable costs, repairs needed soon, and purchases that can wait six months.