Your Path to
Homeownership
Starts Here

The most important thing you can do before house hunting is understand your numbers. This step helps you build a realistic picture of what you can afford today — and what you need to get there.

Your Down Payment

In Canada, the minimum down payment depends on the home's price:

Upfront Costs to Budget For

• Down payment — typically 5%–20% of the purchase price
• Land transfer tax — varies by province; Ontario first-timers may get a rebate
• Legal / lawyer fees — usually $1,500–$2,500
• Home inspection — typically $400–$600
• Moving costs — plan for $500–$3,000+
• Title insurance — usually $150–$300
• Appraisal fee — $300–$500 if required by lender

First-Time Buyer Programs in Canada 🎉

• First Home Savings Account (FHSA) — Save up to $40,000 tax-free toward your first home
• Home Buyers' Plan (HBP) — Withdraw up to $60,000 from your RRSP tax-free
• First-Time Home Buyer Tax Credit — Up to $1,500 back at tax time
• GST/HST New Housing Rebate — Recover a portion of tax on new construction (up to $59K in Ontario!)
• Ontario Land Transfer Tax Rebate — Up to $4,000 back for first-time buyers in Ontario (Toronto buyers get an additional municipal rebate)

This is where things can feel overwhelming — but don't worry, I'm here to help. Understanding your mortgage options before you start house hunting gives you a huge advantage and keeps you in control.

Mortgage Basics

A mortgage is a loan secured against your home. You'll repay it with regular payments (weekly, bi-weekly, or monthly) over a set amortization period — typically 25 years for insured mortgages.

Get Pre-Approved First!

A mortgage pre-approval tells you exactly how much you can borrow and at what rate. It shows sellers you're a serious buyer — and in competitive Ontario markets, it can make or break your offer.

• Lock in your interest rate for up to 120 days while you shop
• Know your exact budget before you fall in love with a home
• Move fast when the right home comes — no delays
• Negotiate with confidence knowing your financing is in place

CMHC Mortgage Loan Insurance (MLI)

If your down payment is less than 20%, you'll need mortgage loan insurance. This protects the lender — but it enables you to buy with as little as 5% down. The premium (0.60%–4.00%) is added to your mortgage balance.

🏦 Need a mortgage referral?

I work with some of the best mortgage brokers in Ontario. Let me connect you — it costs you nothing and saves you thousands. DM me on Instagram @shamik.bhesaniya or call 289.339.2737.

Now the fun part — actually finding your home! This step is about setting clear priorities, understanding what you're looking at, and making sure you have the right people in your corner.

Define Your Must-Haves vs. Nice-to-Haves

Why Work with a Realtor?

• Access to MLS listings — including homes before they hit public sites
• Skilled negotiation on your behalf to get the best price and terms
• Guidance through paperwork, conditions, and legal requirements
• Trusted network of inspectors, lawyers, and mortgage professionals
• As a buyer, my services are typically at no cost to you

New Construction vs. Resale

Both have advantages. Resale homes have character and are often in established neighbourhoods. New builds come with modern finishes, builder warranties, and — across Ontario — with significant HST rebates that can dramatically reduce your purchase price.

You found a home you love — now let's make it yours. This step covers everything from writing a strong offer to getting the keys in your hand. It's a critical stage, and having the right Realtor beside you makes all the difference.

Writing Your Offer

Your offer (Agreement of Purchase and Sale) includes the price, deposit amount, closing date, and any conditions. It's legally binding, so every word matters.

• Purchase Price — Based on comparable sales, market conditions, and your budget
• Deposit — Usually 5% of purchase price, paid within 24 hours of acceptance
• Closing Date — The date you take possession (typically 30–90 days)
• Conditions — Financing, home inspection, status certificate (condos)
• Inclusions/Exclusions — What's included (appliances, fixtures, etc.)

Home Inspection — Don't Skip This!

A qualified home inspector will examine the structure, roof, electrical, plumbing, HVAC, and more. Budget $400–$600. This is your chance to uncover any hidden issues before you're legally committed to buying.

Closing Day — What to Expect

• Your lawyer reviews all documents and handles the title transfer
• Final payment (balance of purchase price) is transferred to the seller
• Title insurance is registered in your name
• You pick up the keys — the home is yours! 🎉

✍️ Offer strategy matters

In Ontario's market, how you structure your offer can win or lose a home. I've helped buyers secure homes in competitive situations — let me put that experience to work for you. Email me at [email protected].

Congratulations — you're a homeowner! Now comes the important work of protecting and maintaining your investment. A little planning goes a long way in keeping your home in great shape and your finances healthy.

Essential Insurance

• Home Insurance — Required by your lender; covers fire, theft, liability, and more
• Mortgage Life Insurance — Pays off your mortgage if you pass away (optional but worth considering)
• Title Insurance — Protects against title fraud, survey issues, and unknown defects

Build a Home Maintenance Budget

A good rule of thumb: set aside 1%–2% of your home's value every year for maintenance. For a $600,000 home, that's $6,000–$12,000 per year. This covers routine maintenance and unexpected repairs.

Seasonal Maintenance Checklist

Renovation & Rebate Programs

• Canada Greener Homes Grant — Up to $5,000 for energy-efficient upgrades
• CMHC Eco Improvement — 25% mortgage insurance premium refund for energy upgrades
• CMHC Eco Plus — 25% refund when buying a newly built energy-efficient home
• Ontario Home Energy Savings Program — Rebates for insulation, heat pumps, and more