With record low interest rates I always stress to my young buying clients to always leave yourself a bit of a financial buffer when buying and taking out your first mortgage. If a bank says you can qualify for a $400K mortgage, you don’t always have to take all of it. Unexpected special levies for repairs can arise at any time so you want to have an emergency cash fund to cover them. Also, keep in mind that interest rates can only go up from here so start planning and saving for the eventual increase now.