Buying

The first step is a conversation. We take the time to learn about your goals, priorities, lifestyle, and budget so we can guide you with confidence from the very beginning. Whether you are buying a condo, resale home, rural property, or new construction, we help you create a realistic list of must-haves and nice-to-haves based on how you live now and how you want to live next.

We also connect you with trusted professionals throughout the process, including mortgage brokers, lawyers, inspectors, contractors, insurance providers, and other specialists as needed.

Risk Management

Our job is not just to help you buy a home; it is to help you buy wisely. That means looking beyond finishes and features to identify factors that may affect your enjoyment, future resale, carrying costs, and overall risk. Depending on the property, that may include zoning, future development, flood risk, surface water, septic and well issues, condo considerations, insurance concerns, and likely maintenance or capital expenses.

Trust in Real Estate Services Act, 2022 (TRESA)

Ontario real estate law changed under the Trust in Real Estate Services Act, 2022 (TRESA), and understanding representation is an important part of the process.

Before any services are provided, buyers must receive the RECO Information Guide, which explains representation options and key consumer rights. In multiple-offer situations, buyers who have submitted a written offer are entitled to know the number of competing offers. Sellers decide whether any other offer details will be shared. Without the seller’s written direction, the contents of competing offers cannot be disclosed. (Real Estate Council of Ontario)

Your Budget

Purchasing a home involves both one-time costs and ongoing monthly expenses. The purchase price is only one part of the picture. Buyers should also plan for closing costs, legal fees, moving expenses, utility setup costs, insurance, and any property-specific expenses such as condo fees, rural inspections, or status certificate review.

Down Payment: Minimum down payment rules in Canada depend on the purchase price. The federal guidance is currently:

  • 5% on the first $500,000
  • 10% on the portion from $500,000 to $1.5 million
  • 20% for homes priced at $1.5 million or more (Canada)

The larger your down payment, the less you borrow and the less interest you typically pay overtime.

Savings Programs for First-Time Buyers: Eligible buyers may be able to use the Home Buyers’ Plan (HBP), which currently allows withdrawals of up to $60,000 per individual from an RRSP, with repayment over 15 years. Eligible buyers may also use the First Home Savings Account (FHSA), and the two programs can be used together if the requirements are met. 

Land Transfer Tax: In Ontario, buyers pay Ontario land transfer tax on closing. First-time homebuyers may be eligible for a refund of all or part of that tax, depending on the property and eligibility requirements. Ottawa does not have a separate municipal land transfer tax like Toronto.

Monthly Expenses: Your monthly housing costs may include:

  • mortgage payments
  • property taxes
  • heat, hydro, water, and sewer
  • home insurance
  • condo fees, if applicable
  • maintenance and repair costs

Your lender or mortgage broker will help you understand what is comfortable and what you qualify for based on your full financial picture.

We are happy to recommend experienced Mortgage advisors to help you get started!

Pre-Approval: A mortgage pre-approval is one of the most important early steps. It helps establish your price range, strengthens your position when you make an offer, and may allow you to hold an interest rate for a period while you search.

Be prepared to provide supporting documents such as income confirmation, proof of down payment, notices of assessment, and information about debts and assets. Lending guidelines can change, so it is important to get current advice directly from a mortgage professional.

Typical One-Time Costs: Closing costs vary by property and transaction, but may include:

  • legal fees
  • legal disbursements
  • title insurance
  • home inspection costs
  • appraisal fee, if required by the lender
  • Ontario land transfer tax
  • status certificate and review costs for condo purchases
  • adjustments for property taxes, utilities, or condo fees
  • moving expenses
  • service hookup or transfer fees

HST generally applies to services such as legal fees, inspections, movers, and commission remuneration. New construction, substantially renovated homes, and some investment purchases may involve different HST rules, so each situation should be reviewed individually.

Building your search

Once your goals and budget are clear, we create a customized search and monitor opportunities closely. We refine the search as we learn more from the homes you see and the feedback you provide. We help you evaluate not only the home itself, but also the street, neighbourhood, commute, amenities, future resale potential, and any practical issues that might affect your decision.

Making an offer

When you are ready to make an offer, we will:

  • provide current market data and comparable sales
  • discuss pricing strategy
  • review the risks and opportunities tied to the property
  • recommend appropriate conditions and timelines
  • explain inclusions, exclusions, deposit requirements, and closing dates
  • communicate and negotiate on your behalf

In Ontario, open offer processes are legal, but the seller controls how much information is shared about competing offers beyond the number of written offers received. (Real Estate Council of Ontario)

Elements of an Offer

An Agreement of Purchase and Sale is a legal document that sets out the terms of your offer. Important elements include:

Price: The price you offer may be above, below, or at asking, depending on market conditions, comparable sales, and the strategy we develop together.

Deposit: The deposit shows good faith and forms part of your purchase price. It is typically due very shortly after acceptance, so buyers should have those funds readily available in an acceptable form.

Conditions: Depending on the property and the strategy, conditions may include:

  • financing
  • home inspection
  • insurance
  • lawyer review
  • status certificate review for condos
  • sale of the buyer’s property

Inclusions and Exclusions: These should be clearly spelled out and may include appliances, light fixtures, window coverings, shelving, mirrors, TV mounts, or other items.

Rental Equipment: It is important to identify any rental equipment, as items such as hot water tanks, furnaces, or other systems may involve ongoing monthly costs and contract obligations that the buyer should understand before completing the purchase.

Closing and Possession Date: This is the date ownership transfers and funds are exchanged. Keys are usually released later that day once the transaction has completed.

Firm Offer: A firm offer has no conditions and becomes binding immediately upon acceptance.

Conditional Offer: A conditional offer gives the buyer time to complete specific due diligence before the sale becomes firm. During that conditional period, the buyer and their professionals can investigate the property and confirm that everything is satisfactory.

Home Inspection: A qualified home inspector can identify defects, maintenance concerns, safety issues, and items that may require repair or replacement. For many buyers, an inspection is an important risk-management step.

If concerns arise during the conditional period, a buyer may:

  • proceed
  • renegotiate
  • request repairs
  • walk away

Rural properties may also require septic, well, water quality, or other specialized inspections depending on the property.

Having the property inspected by a qualified home inspector will give you the added confidence that you’ve made the right decision and to reduce your risk. (costs vary). An inspection should provide a full written report with photographs, documenting observations. Quality inspectors do not care if you buy the house or not, their job is to be objective and informative.

We are happy to recommend experienced home inspectors based on the type of property you are purchasing.

Condo Purchases: For condo purchases, the status certificate is an important part of due diligence. It provides information about the condominium corporation’s financial health, reserve fund, legal issues, rules, fees, and other matters that could affect ownership and future costs.

Financing Commitment: Once your offer is accepted, your lender completes the final approval process. This may involve updated documents, confirmation of employment or income, and an appraisal. At this stage, it is also important to confirm the type of mortgage that best suits your needs, including term, payment frequency, fixed versus variable rate, and any optional products being offered.

Lawyer’s Role: Your real estate lawyer protects your legal interests, reviews title, manages closing documents, handles funds, and completes registration. Depending on the transaction, a lawyer may also review documents during the conditional period.

We are happy to recommend experienced real estate lawyers based on the type of property you are purchasing.

Insurance: Insurance should never be left to the last minute. Some homes present insurance challenges due to age, wiring, plumbing, heating source, prior claims history, flood exposure, or other risk factors. In some cases, an insurance condition is advisable.

Acceptance of the Offer: Strategy matters! When making an offer, the seller may accept the offer, reject it, or submit a counter-offer. The counter-offer may be in reference to the price, the closing date, or any number of variables. The offers can go back and forth until both parties have agreed or one of you ends the negotiations.

Final Walkthrough: Before closing, buyers should usually complete a final walkthrough. This is an opportunity to confirm that:

  • the property is in the same condition as when the offer was made
  • agreed inclusions remain
  • any negotiated repairs or replacements have been completed
  • the home has not been damaged since acceptance

Closing Day: On closing day, your lawyer completes the legal transfer, funds are exchanged, and the transaction is registered. Once everything has been completed, keys are released and you officially take possession.

New Construction: If you are considering a builder home or condo, contact us before visiting or registering with the builder. Many Tarion-registered builders work with Realtors, and registering properly from the start helps ensure your interests are protected and that you have guidance on pricing, incentives, upgrades, timelines, assignments, and builder forms.

We are with you every step of the way!

Our role is to guide, protect, advise, and advocate for you from the earliest planning stage right through to closing and move-in. Buying a home is a major decision, and our goal is to help you make informed choices with confidence.

Close, move in, and enjoy!