How much do I need for a down payment in Ontario?

In Ontario you need a minimum of 5% for homes under $500K, 5-10% for homes between $500K and $999K, and 20% for homes $1M and above. First-time buyers may qualify for RRSP Home Buyers' Plan and FHSA incentives.

How long does it take to buy a home in the GTA?

From pre-approval to closing typically takes 60-120 days. Getting pre-approved takes 1-3 days, finding a home 2-8 weeks depending on the market, and closing 30-60 days after an accepted offer.

Do I need a realtor to buy a home in Ontario?

You are not legally required to use a realtor, but as a buyer your representation is free, the seller pays both agent commissions. A buyer's agent protects your interests, negotiates on your behalf, and guides you through the OREA paperwork.

What closing costs should I budget for in Ontario?

Budget 1.5-4% of the purchase price for closing costs. This includes Ontario and Toronto land transfer taxes, legal fees ($1,500-$2,500), title insurance ($200-$400), and home inspection ($400-$600). First-time buyers get a rebate on provincial land transfer tax up to $4,000.

What is a conditional offer vs a firm offer?

A conditional offer includes conditions (financing, home inspection, status certificate) that must be satisfied before the deal is firm. A firm offer has no conditions and is binding immediately. In competitive GTA markets firm offers are common but carry more risk for buyers.

For Buyers

Toronto Home Buyer's Guide | GTA Real Estate

Everything you need to know about buying a home in the GTA, Hamilton, Guelph, and Kitchener-Waterloo markets.

The Home Buying Process

Get Pre-Approved

Before you start searching, get a mortgage pre-approval. This tells you exactly what you can afford and shows sellers you're a serious buyer. We work with trusted mortgage brokers who can get you pre-approved quickly.

Define Your Criteria

We'll sit down and discuss your must-haves, neighbourhood, size, features, and budget. This shapes your personalized property search and saves you from wasting time on homes that don't fit.

Property Search & Tours

Access our full MLS® database updated every 6 hours. We'll schedule viewings at your convenience, including evenings and weekends. You can also save favourites directly from our website.

Make an Offer

Found the right home? We'll prepare a competitive offer based on market data and recent comparable sales. We negotiate firmly on your behalf to get the best price and terms.

Conditions & Inspection

Your offer will include conditions for financing and a home inspection. We recommend trusted, certified home inspectors who provide thorough reports so you know exactly what you're buying.

Closing & Keys

Your lawyer handles the title transfer, land transfer tax registration, and funds. On closing day, you receive your keys. We'll be with you every step of the way, right to the finish line.

Closing Costs to Budget For

In Ontario, closing costs typically range from 1.5%–4% of the purchase price. Here's what to expect:

Land Transfer Tax (Ontario)

Based on purchase price. First-time buyers get up to $4,000 rebate.

Land Transfer Tax (Toronto)

Additional municipal LTT applies to Toronto properties. First-time buyers get $4,475 rebate.

Legal Fees

Typically $1,500–$2,500 for a purchase transaction.

Home Inspection

Approximately $400–$600. Always recommended.

Title Insurance

Approximately $200–$400. Protects against title defects.

CMHC Mortgage Insurance

Required if your down payment is less than 20%. Added to your mortgage.

Moving Costs

Variable. Budget $1,000–$5,000 depending on distance and volume.

HST on New Homes

HST applies to new construction. Resale homes are HST-exempt.

Ready to Start Your Search?

Contact Realtor Maneesh Sebastian today for a free, no-obligation buyer consultation.

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