matt, if your credit is good i'd hang on to the cash and get a low rate fixed mortgage. rule #1 is NEVER GIVE UP THE CASH!!!

i'm not sure about the market in alberta but in sw florida homes wont get much cheaper...imo buying less than you can actually afford is a good idea...the larger the house, the larger the monthly bills and upkeep...

congratulations on being in your mid 20's and buying a house. good job!