House hunting is a crazy ride - full of highs and lows, ups and downs, thrills and tears. But from the stories of Canadians across the country who have been through it themselves, the ride is well worth the end result. To celebrate the house hunt, we’re publishing the stories of real Canadians in the weekly column “Canadian House Hunting Stories.” Here is Jason Keats from Ottawa, Ontario, who finished work on a “fixer upper” just in time for a new baby.

A New House, a New Family

When my wife and I decided to buy a house of our own, we were really excited. We had just learned that my wife was pregnant, and we wanted to have a home ready for when the baby arrived.

When we made our appointment with BMO we didn’t know what to expect. We were not very knowledgeable about the different options and services available for new home buyers. After the meeting, we had a good idea of what our income and expenses were, and what we could afford. With that figure in mind, we were very fortunate to find a wonderful older home in a great neighborhood close to my work.

The house itself was a real “fixer upper” but my wife saw the potential. It was within our budget, even with renovation expenses added on, and the location was perfect. Both our families (her parents and mine) worked tirelessly for five months to help us renovate the home; to have it ready before the baby arrived. Whenever we worried about the renovation costs, we remembered our financial consultant’s advice: that the money we spent was going into the equity of the home.

Our daughter arrived a few weeks after we finished the renovations, and we were ecstatic. Since then we have been back to consult a BMO financial advisor two or three times: to adjust our payment schedule, to borrow more for additional home improvements, and to see how we can improve our household finances. Each time BMO has found new ways to help save my family money as our income and expenses evolve. My best advice would be to use their expertise to help with the initial home purchase, and to also take advantage of their free financial “check-ups” to make sure you are saving all that you can.