Part 1: Define Your Purpose and Budget
Emiko Pereira
July 23, 2026
Part 1: Define Your Purpose and Budget
Before anything else, clarify why you're buying.
Primary residence — a home for you or your family
Investment property — rental income or long-term asset growth
Second home — a vacation property or occasional-stay residence
Your purpose shapes everything downstream: which areas make sense, what property type fits, and how financing will work. If you're investing, think through your expected yield and your eventual exit strategy from day one.
On budget: remember that closing costs typically add 6–8% on top of the purchase price — factor this in early so there are no surprises later.