The GTA Home Buyer's Guide
Every step from budget to keys, a checklist that tracks your progress, and a land transfer tax calculator.
The process, in 8 steps.
- 1
Set your budget and get pre-approved
Talk to a lender or mortgage broker before you view homes. A pre-approval tells you what you can borrow and holds a rate for a period of time, usually 90 to 120 days.
- 2
Plan your down payment and closing costs
In Canada the minimum down payment is 5% of the first $500,000 and 10% of the portion above that for homes under $1.5 million, and 20% at $1.5 million and above. Set aside closing costs on top: land transfer tax, legal fees, title insurance and adjustments.
- 3
Choose your neighbourhoods
Shortlist areas by commute, schools, lifestyle and total cost of ownership. Inside the City of Toronto you pay a second, municipal land transfer tax.
- 4
Search and view homes
Get new listings as they come up, view in person, and look past the staging: roof, windows, mechanicals, signs of water and the neighbourhood at different times of day.
- 5
Make an offer
Together we set the price, deposit, closing date and conditions, such as financing, a home inspection or, for condos, a status certificate review. In multiple-offer situations we plan the strategy in advance.
- 6
Firm up the deal
Once accepted, the deposit is usually due within 24 hours. Conditions are worked through by their deadlines; when they are waived or fulfilled, the deal is firm.
- 7
Prepare for closing
Hire a real estate lawyer, arrange home insurance, finalize your mortgage, book movers and set up utilities. Most offers include a final visit to the home before closing.
- 8
Closing day
Your lawyer registers the transfer and pays the land transfer tax and balance owing. You get the keys, usually the same afternoon.
Tick off each step as you go.
Your progress is saved in this browser, so you can come back any time.
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Land transfer tax calculator
- Ontario land transfer tax
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- Toronto municipal tax
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- First-time buyer rebates
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- Total land transfer tax
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Estimate for a single-family home, using posted rates and rebate maximums. Your lawyer confirms the final amount at closing.
Common questions.
How long does buying a home take?
Many buyers find a home within one to three months of starting to view. Closing is often 30 to 90 days after the offer is firm, depending on what you and the seller agree.
Do I need a home inspection?
It is strongly recommended, especially for older homes. In competitive situations, some buyers inspect before making an offer so they can offer without that condition.
Turn this guide into your plan.
Every move is different. Send me a few details and I'll reply personally with a plan for your situation: timing, costs and the steps that matter most for you.
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What clients say.
Real reviews from clients on Google.
Over the course of just three weeks, we looked at 30 homes, and Alexey never missed a beat. … He made what could have been a stressful experience feel organized and manageable. … We couldn’t have asked for a better agent.
We bought a new house with Alexey and had to sell ours in a short time frame in a challenging market. Alexey has used various marketing techniques to get the maximum exposure for our property and we succeeded and successfully sold our home on time!
Even though I was out of town and travelling for work during our search, Alexey would work very hard to visit units on my behalf on short notice (even visiting multiple units per day). … This turned a potentially stressful situation into a very smooth and easy process.
He is so enthusiastic to do OPEN HOUSE until you sell your house. Even on a long weekend. Another good trait that he has is he will reply to your message anytime of the time within few minutes. And if you have kids, he will take care of them while you’re viewing the house, he will guard the stairs to safeguard them. Highly recommended
Rated 5.0 across 21 Google reviews.
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