Your guide to buying a home in the GTA.

Get pre-approved for a mortgage

Before you start looking at homes, get a written pre-approval from a bank or mortgage broker. This tells you exactly how much you can borrow, locks in your interest rate for 90-120 days, and signals to sellers that you're a serious buyer.

• Talk to at least two lenders — banks aren't always the cheapest
• A mortgage broker compares 30+ lenders for free; they're paid by the lender, not you
• Ask about your stress-tested qualifying amount, not just the contract rate amount
• Newcomers to Canada: ask about programs like RBC, TD, and Scotiabank newcomer mortgages that accept shorter Canadian credit history
• If you want halal financing, look into Manzil or EQRAZ (the two main Canadian providers)

Maximize your down payment with FHSA & HBP

Two government programs can give you a significant boost on your down payment — both let you save tax-free.

• FHSA (First Home Savings Account): Contribute up to $8,000/year ($40,000 lifetime). Contributions are tax-deductible like an RRSP, and withdrawals for your first home are tax-free like a TFSA. Both benefits in one account.
• Home Buyers' Plan (HBP): Withdraw up to $60,000 from your RRSP tax-free (must be repaid over 15 years). You can combine HBP and FHSA.
• Minimum down payment in Canada: 5% on the first $500K, 10% on the portion from $500K-$1.5M. Under 20% requires CMHC insurance (premium added to your mortgage).
• First-Time Home Buyer Tax Credit: $1,500 federal credit, plus Ontario Land Transfer Tax rebate up to $4,000.

Pick your team

You'll work with four professionals through this process. Choose them carefully — they'll save or cost you thousands.

• Realtor (me): Negotiates on your behalf, shows you homes, writes offers, manages the timeline. The seller pays the buyer's realtor commission, so it costs you nothing.
• Mortgage broker or lender: Locks in your rate and approves the loan.
• Real estate lawyer: Reviews your offer, checks title, handles closing. Typical fee: $1,500-$2,500.
• Home inspector: Checks the property's condition before you commit. Typical fee: $400-$600. Non-negotiable for older homes.

Define your must-haves vs. nice-to-haves

Before we start touring homes, get specific about what matters and what doesn't. This conversation saves weeks of wandering.

• Neighbourhood — school district, commute to work, family nearby, walkability, transit
• Property type — detached, semi, townhouse, condo (each has very different cost structures)
• Beds, baths, square footage minimums
• Yard, parking, finished basement, in-law suite
• Move-in date flexibility

Be honest about your top three priorities. In the GTA market, you'll rarely find a home that ticks every box — knowing what you'd compromise on saves heartache later.

Search, shortlist, and tour

I'll set up a personal listing alert that emails you new homes that match your criteria the moment they hit MLS. Realtor.ca is a useful start, but the alert I send you includes private listings, soon-to-launch homes, and homes that match your "wants" but might not surface in a basic search.

• We tour 3-5 homes at a time, in person or virtually
• I do a Comparative Market Analysis on every home you're seriously considering, so you know if the asking price is fair
• I check neighbourhood sale history, days on market, and recent comparables
• For condos, we review the status certificate (financial health of the building, special assessments, reserves)

Make an offer

When you find the right home, we move fast. Most GTA offers are decided within 24-72 hours of presentation.

• Offer price: Based on the CMA, not just asking. In hot markets we may bid over; in slower markets, under.
• Deposit: Usually 5% of purchase price, due within 24 hours of acceptance. Held in trust by the listing brokerage.
• Conditions: Financing (5-10 business days), inspection (5-7 days), status certificate for condos (10 days). In multiple-offer scenarios these are sometimes waived — that's a strategic call we'll make together.
• Closing date: Typically 60-90 days out. Earlier is possible but expensive.
• Inclusions: Appliances, fixtures, anything that should stay — list them explicitly.

Fulfill conditions, then firm up

Once your offer is accepted (conditionally), you have a short window to confirm financing and complete your inspection. If everything checks out, you "waive conditions" and the deal becomes binding.

• Send the accepted offer to your lender immediately to start final approval
• Book the home inspection within 48 hours of acceptance
• Review the inspector's report carefully — major issues are grounds to renegotiate or walk away
• For condos, your lawyer reviews the status certificate for financial red flags
• Once conditions are waived, your deposit is non-refundable. Be sure.

Close, get keys, and move in

The final 30-60 days before closing involves your lawyer, your lender, and a final walk-through. Closing costs catch a lot of first-time buyers off guard — budget for these from day one.

• Land Transfer Tax: The big one. On a $800K Mississauga home, roughly $12,475 (Ontario only). First-time buyer rebate gives back up to $4,000.
• Legal fees: $1,500-$2,500 including disbursements
• Title insurance: $300-$500 one-time
• Property tax adjustments: Reimburse the seller for any tax they paid covering your portion
• Home insurance: Required before closing; budget $1,200-$2,500/year
• Moving costs: $500-$3,000 depending on distance
• Utilities deposits and connections: $200-$500

The day before closing, we do a final walk-through to confirm the home's condition matches the offer. On closing day, your lawyer transfers the funds, the keys are released, and the home is yours.