Vancouver first-time buyer: is C$13,500 enough cash after closing?

[finn_rents]

Seeing that only about C$13,500 would remain has made the C$803,200 purchase feel less comfortable than it did at first. It is a 2-bed serviced apartment in Vancouver, and that balance would need to cover anything due soon after closing as well as the move.

The inspection is still pending, so I do not know whether there will be early repairs. How much would you keep completely untouched for emergencies and service charges before spending on moving or basic furniture? I’m willing to furnish slowly or look at a cheaper property if this leaves too little breathing room.

 

[cairn.common]

I’d protect the emergency portion first rather than treat the full C$13,500 as move-in money. Set aside the first mortgage payment, service charges and insurance excess, then price the move. Only genuinely urgent inspection items should come next. Furniture can be bought gradually; an empty room is inconvenient, but losing the whole buffer is worse.

 

[saveTheFrame]

The missing fact is what the inspection finds and whether any service charge is due soon after closing. C$13,500 might be workable if the apartment needs almost nothing, but it looks thin if that amount must also cover furniture and repairs. I’d make two budgets now: one for a clean inspection and one for a plausible repair list. If the second leaves no real emergency fund, lowering the purchase price is not overthinking it.