If you’re looking for a trusted, experienced, and knowledgeable Regina mortgage broker to help a first-time home buyer, I am here to help. No matter what stage you are in the mortgage process, I can assist you in securing financing to get the home of your dreams. I also understand that all those mortgage rules and regulations surrounding the process can be confusing. My team and I are here to answer all your mortgage questions and help you achieve home ownership. In my latest article, I share that one of the most common things I hear: “We’re going to wait until rates come down a bit more,” or “We want to save a bigger down payment first.” The instinct makes sense on the surface. But when you actually run the numbers, waiting to buy often costs more than people realize. And just as importantly, the right time to buy isn’t always about the market. It’s about your life.
What Waiting to Buy a New Home Actually Costs
Let’s say you’re looking at a $400,000 home in Regina today (2026). You decide to wait 12 months, hoping for lower rates or a larger down payment. In the meantime, you’re paying $1,800 a month in rent. That’s $21,600 spent on housing without building any ownership in an asset.
Now add in the real possibility that home prices in Saskatchewan have risen modestly in that same period. Even a 3% increase on a $400,000 property is $12,000 added to the purchase price. You’d need to save that much extra just to stand still. In a scenario like this, the cost of waiting can add up quickly.
The Interest Rate Calculation Is More Complicated Than It Looks
Yes, a lower interest rate saves you money over the life of your mortgage. But consider this: if rates drop by the time you buy, increased buyer demand can put upward pressure on home prices. You may end up with a better rate on a more expensive home, and the savings may not be as significant as you expected. The relationship between interest rates and home prices is not as straightforward as it looks from the outside.
What most buyers don’t realize is that you can often refinance or renew into a better rate down the road. You cannot go back in time and buy the house at today’s price.
Equity Is the Long Game
Every mortgage payment you make builds equity over time while also providing a place to live. Rent payments provide housing, too, but they don’t create ownership in an asset.
In Saskatchewan, where the market has remained relatively stable and accessible compared to larger Canadian cities, the window of relative affordability is genuinely worth taking seriously.
Saskatchewan Is Different
Many Canadians follow housing headlines from Toronto and Vancouver, but Saskatchewan has historically been a different market. While prices have certainly increased over time, our market has generally been more affordable and less volatile than many major urban centres. That can create opportunities for financially ready buyers, even when national headlines make the market feel intimidating.
Buy When the Time Is Right for You
None of this is meant to pressure anyone into a purchase they aren’t ready for. The right time to buy is when your life is ready, when your finances are stable, your employment is solid, and you have a plan you feel good about. Chasing market timing is a stressful game that rarely pays off the way people hope. What I always tell clients is this: we can work with where you are right now. The goal isn’t to buy at the perfect moment. It’s to buy at the right moment for you, with a mortgage structure that fits your actual life.
If you’re on the fence, the best thing you can do is sit down and run your real numbers. Not hypotheticals, your actual income, savings, debt, and timeline. From there, you can make a decision based on facts instead of uncertainty.
That conversation is free, and it might surprise you.
Let’s talk about where you actually stand. Get in touch, and we’ll figure it out together.
PLEASE NOTE:
Mortgage rules and lender policies change all the time. Because Ryan has access to many lenders and has specialized expertise in structuring mortgage applications, he can determine the optimal way to structure your application to maximize the utilization of things like employment income, self-employment income, Canada Child Benefit income, disability income, maternity leave, down payment sources, credit issues, debt ratios, etc. The choice of lenders, combined with his experience, can make the difference in qualifying for and/or securing the amount you want. It’s not just about the best rate; it’s about flexibility and choices.
