Alan GuoBuying a home is a major decision. The steps below outline the path from defining your needs to closing day; the actual plan is adjusted to your situation.
Buying process
Define your needs
Clarify budget, preferred areas, home type, school and commuting priorities to narrow the search.
Budget and mortgage pre-approval
Talking to a lender early clarifies what you can afford, and pre-approval strengthens your position when offering.
Communities and showings
Compare neighbourhoods, school information and local amenities, and tour homes that fit your criteria.
Offer and negotiation
Set an offer strategy based on recent comparable sales and the home's condition, then negotiate price and terms with the seller.
Inspection and closing
Complete inspections, financing and legal steps as agreed, with a final walk-through and handover before closing.
Frequently asked questions
Are there incentives for first-time buyers?
Eligible first-time buyers may qualify for land transfer tax rebates and other programs. Eligibility and amounts follow current provincial and municipal rules, so please confirm with your lawyer or lender before buying.
How much down payment do I need?
Down payment requirements vary with price, mortgage type and lender. Confirming with a lender early gives you a clearer budget.
What is a home inspection?
A professional inspector reviews the home's main structure and systems so you understand its actual condition before deciding to proceed.
What conditions are common in an offer?
Common conditions include financing approval, satisfactory inspection and home insurance. The exact terms are negotiated between buyer and seller.
How long does buying take, from showings to closing?
It varies with your search, negotiations, financing and legal work — typically several weeks to several months.