Down payments, insurance, and bills - the list of costs associated with new home ownership can be overwhelming at first but is completely manageable with proper planning. To help you prepare, we've compiled the 5 top costs you should budget for when choosing your new home calgary.This is one of the first costs you’ll need to plan for when buying a new home. Most people put 5% -20% down, so having a home price range in mind can help you save ahead of time. Also, if you put less than 20% down, you will need mortgage insurance. Here’s everything you need to know about Canadian mortgage insurance.