Saving for a down payment is only one part of preparing to buy a home. Before the property becomes yours, there are also legal fees, taxes, adjustments, insurance costs and other expenses that may need to be paid before or on closing. For first-time buyers, the important question is not simply: “How much is my down payment?” It is: “How much money will I actually need available to complete the purchase?” CMHC and the Financial Consumer Agency of Canada suggest budgeting appro