There are pros and cons to home ownership, and when you weigh them carefully you'll likely come to your own conclusion about whether it's right for you.

Start by asking yourself a couple of basic questions.

What can I afford?

Home ownership should fit into your lifestyle, but it should not become your lifestyle. Many buyers take on more debt than they can manage and quickly find themselves "house-poor" - meaning they have nothing left over at the end of the month.

To find out how much you may be able to afford, contact a TD Canada Trust Mobile Mortgage Specialist or visit your nearest TD Canada Trust branch.

What type of home makes sense for me?

When it comes to buying a home, there's a wide range of choices that have as much to do with your personal preferences as they do finances.

New homes are often more energy-efficient and you may have the opportunity to customize many of the features such as tiles, flooring and fixtures. However, resale homes are often located in established communities giving you a chance to get a better feel for the neighbourhood and its amenities such as schools, transit, shopping and entertainment.

If you choose resale, do you want a home that's ready to move into or a fixer-upper? If you have the time and inclination to renovate, your home will certainly reflect your personal style, but it takes a considerable amount of planning and patience to see it through.

As you can see, the choice to own your own home is not only a financial decision but a lifestyle choice too. Find out more about the pros and cons of the options you have at Finding the Right Home.

If you've decided to buy, there's a lot to consider. Our Home Buyer's Checklist is a great way to help decide what's important to you and to compare homes you look at.

Pre-approval is the first step to home sweet home

Ask one of our TD Canada Trust Mobile Mortgage Specialists to arrange your no-obligation pre-approval.

Related topics:

• Finding the right home
• Closing costs
• Building your team
• Completing the Paperwork