Recent changes to the mortgage stress test designed to cool down hot housing markets across the country may make it more difficult for some Albertans to purchase a home.

Everyone's heard the term "house poor," referring to anyone who spends a large portion of their income on homeownership, leaving little money left for other expenses or small luxuries. It's a classic case of one's eyes being bigger than their stomach.

That's why getting a mortgage pre-approval can be a double-edged sword – it's nice to know what you can afford, but it's awful tempting to go ahead and spend to the maximum you're approved for. However, this decision can leave buyers vulnerable to fluctuations in the housing market or the overall economy.

The federal government is hailing its First-Time Buyer Incentive program as a golden opportunity for thousands of potential homebuyers across the country who are hoping to purchase their first property.