The Ultimate Checklist for Buying a Home in Ontario

Buying a home is one of the biggest financial decisions you’ll ever make - and in Ontario’s 2025 housing market, it can feel overwhelming. Between mortgages, inspections, and legal paperwork, there’s a lot to juggle. That’s why we’ve created this ultimate step-by-step checklist to help guide you through the process with confidence.

Step 1: Check Your Finances

• Review your income, savings, and debts.

• Calculate how much you can afford monthly.

• Aim for a minimum 5% down payment (20% or more avoids CMHC insurance).

• Set aside funds for closing costs (typically 3–5% of purchase price).

Step 2: Get Pre-Approved for a Mortgage

• Meet with a mortgage broker or bank.

• Get a written pre-approval letter to show sellers you’re serious.

• Compare fixed vs. variable rates.

Step 3: Choose the Right Location

• Research neighbourhoods: schools, transit, amenities, safety, resale value.

• Consider commute times and long-term plans.

• Drive through areas at different times of day.

Step 4: Hire a Real Estate Agent

• Look for a licensed Ontario REALTOR® with experience in your target area.

• Ask about recent transactions and negotiation style.

• A good agent will guide you, spot red flags, and handle offers.

Step 5: Start House Hunting

• Make a list of must-haves vs. nice-to-haves.

• Attend open houses and private showings.

• Take notes and photos to compare later.

Step 6: Make an Offer

• Work with your agent to draft a competitive offer.

• Decide on price, conditions (financing, inspection), and closing date.

• Be prepared for negotiations or bidding wars in hot markets.

Step 7: Get a Home Inspection

• Hire a professional inspector to check for structural issues, plumbing, electrical, and roof condition.

• Use the report to negotiate repairs or price adjustments if needed.

Step 8: Secure Financing

• Once your offer is accepted, finalize your mortgage with the lender.

• Provide documents (income, employment, down payment proof).

• Lock in your interest rate.

Step 9: Hire a Real Estate Lawyer

• In Ontario, a lawyer is required to close a real estate transaction.

• They’ll handle the title search, mortgage registration, and transfer of funds.

Step 10: Closing Day

• Pay your down payment and closing costs.

• Your lawyer registers the deed in your name.

• Pick up the keys - congratulations, you’re a homeowner! 🎉

Bonus Tips for Ontario Buyers

• Check eligibility for Land Transfer Tax Rebates (up to $4,000 for first-time buyers in Ontario, plus extra for Toronto).

• Don’t forget ongoing costs: property taxes, utilities, home insurance, and maintenance.

• Stay patient - the right home is worth waiting for.

Bottom Line

Buying a home in Ontario is a detailed process, but with the right checklist, you won’t miss a step. From finances and pre-approvals to inspections and closing day, being organized makes the journey smoother - and helps you feel confident in your purchase.

---

You’ve got the checklist - now it’s time to put it into action. Whether you’re buying, selling, or handling both, we’re here to guide you every step of the way.

I'M BUYING

I’M SELLING

SELLING AND BUYING