Buyer's Guide
What to expect at every step, what it costs, and the programs that put real money back in your pocket. Written for buyers in Toronto, Markham, Richmond Hill, Vaughan, and Stouffville.
The Process
Talk to a mortgage broker before you start looking. They'll confirm what price range you actually qualify for, hold a rate for 90–120 days, and surface deal-breakers (debt servicing, down payment source) before they kill an offer. I work with three brokers I trust and can introduce you.
"Most buyers shop at the wrong price point because they're guessing at affordability."
I set up automated MLS alerts for your criteria, but the real work is in showings. I walk you through 5–8 homes in your range so you learn what the area gives you per dollar. By the third tour, most buyers' wish-list narrows and their must-haves sharpen.
"Touring is calibration, not just shopping."
When you find the one, we move fast. I run comparable sold-data for the past 90 days, advise on offer price, and decide on conditions (financing, inspection) based on the listing and competition. In multiple-offer situations, I'll tell you straight if it's worth bidding.
"I'd rather lose you a house than win one you'll regret in 6 months."
If your offer is accepted, we have 5–10 business days to satisfy conditions: lender appraisal, status certificate review (for condos), home inspection. I coordinate the inspector and lawyer, walk through the certificate or report with you, and surface anything that should re-open the price.
"Conditions are your real walk-away door."
From firm offer to closing day is usually 30–90 days. Your lawyer handles the legal transfer; I quarterback the moving parts (deposit, mortgage funding, title insurance, key pickup, utility transfers). Final walk-through happens 24–48 hours before close.
"On closing day, the keys land in your hand — but the prep starts 60 days earlier."
Beyond the purchase price
Budget 2–4% of the purchase price on top of your down payment. Here's where it actually goes.
Down Payment
5–20%+ of purchase price
Min 5% on first $500K, 10% on the portion above; 20% required over $1.5M or for investment.
Land Transfer Tax
~1–2.5% of purchase price
Ontario LTT + (in Toronto) Municipal LTT. First-time buyers get rebates up to $4,000 (ON) + $4,475 (Toronto).
Legal Fees
$1,800–$2,500
Lawyer, title insurance, disbursements. I refer to two real estate lawyers I trust.
Home Inspection
$450–$700
Highly recommended on detached/semi. Less common on condos (status cert + reserve fund covers most.
Title Insurance
$250–$400
Usually bundled into the lawyer's package. Required by your lender.
Appraisal
$300–$500
Lender-required in some cases. Often covered by the lender on prime applications.
PST on CMHC
8% of CMHC premium
Only applies if you're putting <20% down and need CMHC mortgage insurance.
Adjustments
$500–$2,000
Property tax, utilities, condo fees pro-rated to closing day. Your lawyer calculates the final figure.
First-Time Buyers
Stack these and a typical first-time couple can pull together $50K+ in tax-advantaged down payment plus $10K in closing-day rebates. Most people don't use all of them.
Contribute up to $8,000/year (lifetime $40,000) — tax-deductible going in, tax-free coming out. Combine with an RRSP withdrawal for a much bigger down payment. Best program available.
Withdraw up to $60,000 from your RRSP tax-free to use as down payment. Must repay within 15 years. Stacks with FHSA — couples can pull $200K combined.
$1,500 credit against federal income tax in the year you buy. Auto-claimed on your tax return.
Up to $4,000 refunded on the provincial LTT for first-time buyers. Lawyer claims at closing.
Up to $4,475 refunded on the Toronto MLTT for first-time buyers. Applies only inside the City of Toronto.
Condo Buyers
When you buy a condo, you're not just buying the unit — you're buying into the building's finances. The Status Certificate is the 100+ page disclosure that tells you what you're really walking into. I review every one with my buyers and flag what matters.
What to look for:
I get the cert reviewed by the buyer's lawyer before conditions are waived. If anything's structurally wrong, that's a walk-away — and the deposit comes back.
Moving Checklist
Investment Properties
The math on a Toronto rental has tightened. Cap rates on freehold investment properties downtown are 3–4%, condos closer to 3.5–4.5%. You're not buying for cash flow in year one — you're buying for amortization, principal paydown, and long-term appreciation.
How I underwrite a deal with you:
I've helped buyers acquire 40+ rental units across the GTA. Happy to share the spreadsheet I use to model deals — DM me on WeChat or WhatsApp.
The first conversation is free, no commitment, in person or video. I'll tell you straight what's realistic at your number.