How Long Does It Take to Buy a House in Ontario in 2027?

Published 2 November 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty

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By Jatin Dua · Broker of Record, RE/MAX Quantum Realty · Updated 2 November 2026 · 9 min read — A stage-by-stage 2027 timeline for buying a home in Ontario, from pre-approval to keys, plus new-build rules and the most common delays.

Short answer

Buying a resale home in Ontario usually takes about two to five months: a few days to two weeks for pre-approval, weeks to months of searching, about five business days of conditions, then a closing typically 30 to 90 days after the offer is firm. GTA homes averaged 31 days on market in October 2026. New builds can take years.

This is for anyone planning to buy a home in Ontario in 2027, especially first-time buyers in Toronto and the GTA who want to know how long each step really takes. You will get a stage-by-stage timeline, what the current market means for your search, how new builds differ, and what tends to cause delays.

How long does it take to buy a house in Ontario from start to finish?

For a resale home, plan on about two to five months from the day you start getting pre-approved to the day you get the keys. The search is the only part that can vary a lot. Once you have an accepted offer, the rest follows a fairly set path.

Stage	Typical time	What can make it longer
Mortgage pre-approval	A few days to two weeks	Missing documents, self-employed income
Searching and touring	A few weeks to several months	A tight budget, a narrow area, a must-have list
Offer and negotiation	A day to a week	Back-and-forth sign-backs, multiple offers
Conditional period	About 5 business days, often longer for new builds or rural homes	Inspection findings, slow lender, condo documents
Firm to closing	Usually 30 to 90 days, set in the offer	Seller’s own move, estate sales, tenant in place
New build (pre-construction)	Often several years	Builder delays, permits, registration of a condo

Typical GTA ranges; your offer sets the actual dates. FCAC says pre-approval rate holds last 60 to 130 days; Tarion sets the new-build delay rules covered below.

If you want the older, general version of this timeline, see How Long Does It Take to Buy a House in Ontario?. This post focuses on what is different in 2027.

How long does mortgage pre-approval take, and how long does it last?

Most buyers get a pre-approval within days once their documents are in. The Financial Consumer Agency of Canada lists what lenders usually ask for: identification, proof of employment such as a recent pay stub, proof of your down payment and closing costs, and details of your other assets and debts. If you are self-employed, expect to provide two years of CRA notices of assessment.

FCAC says a pre-approval can lock in an interest rate for 60 to 130 days, depending on the lender. That rate hold matters more than usual heading into 2027. The Bank of Canada raised its policy rate to 2.50% on 28 October 2026, its next decision is 9 December 2026, and it has scheduled eight decisions in 2027, starting 27 January. If rates rise while you search, a rate hold protects you.

A pre-approval is not a guarantee. FCAC is clear that the final approval comes later, once the lender has assessed the specific home. My post on what a pre-approval guarantees explains the gap.

How long does it take to find a house in the GTA in 2027?

Probably longer than in the frenzy years, but with less pressure. The market heading into 2027 gives buyers time:

In October 2026, GTA homes that sold had been listed for an average of 31 days, according to TRREB.
Across all TRREB areas there were 25,098 active listings and about 4.6 months of inventory.
Homes sold for 97% of their list price on average, so the typical buyer paid a little under asking.

Days on market differ a lot by area and type. In TRREB MLS data via REALM for January to October 2026, detached homes averaged about 24 days on market in Toronto’s E03 and W08 districts, 30 in Brampton and Vaughan, and 33 in Oakville. Condo apartments took longer, for example 42 days in Mississauga and 53 in Brampton.

The search is the stage you control most. A clear list of must-haves, one or two target areas and a pre-approval in hand shorten it. Changing areas or price ranges halfway through is what usually stretches it.

How long are conditions on an offer in Ontario?

Whatever you and the seller agree in the offer. For a resale home in the GTA, five business days is common for financing and inspection. Condo buyers also need time for their lawyer to review the status certificate. In my experience, sellers in a market like this one are far more willing to accept conditions than they were in 2021 or 2022.

Your deposit is usually due shortly after acceptance, often within 24 hours, so have it ready before you offer. If a condition is not met or waived by the deadline, the deal usually ends and the deposit comes back, depending on the wording. My guide on how long a conditional offer lasts covers the details.

Free tool — what can you actually afford?

How long is the closing period on a house in Ontario?

Most resale closings in the GTA are set 30 to 90 days after the offer goes firm, though any date both sides accept can work. In a slower market, buyers often have more say over the date. During this period:

Your lender orders an appraisal if needed and sends mortgage instructions to your lawyer.
Your lawyer searches title, arranges title insurance and prepares the closing documents.
You arrange home insurance, which the lender needs before it releases funds.
You pay land transfer tax on closing through your lawyer. Ontario lets eligible first-time buyers claim their refund of up to $4,000 at registration, and Toronto offers a first-time buyer rebate of up to $4,475 on its municipal tax.

Most of the work happens in the last two weeks. If you are buying in the dead of winter or right before a holiday, leave a little more time. My step-by-step post on what happens after you accept an offer walks through each task.

How long does it take to buy a new build home in Ontario?

Much longer, and with different rules. A pre-construction freehold house or condo can take several years from signing to moving in.

Freehold homes

Tarion explains that builders can give either a firm closing date or a tentative one. With tentative dates, the builder can extend the date twice, by up to 120 days each time, without paying compensation. The outside closing date is 365 days after the firm closing date. If the builder misses a firm date for reasons other than an unavoidable delay or mutual agreement, you can claim compensation of up to $7,500, including $150 a day for living costs.

Since 1 April 2026, you must also notify Tarion of your purchase within 45 days of signing. From 1 January 2027, buyers who miss that window can get reduced deposit coverage.

Condos

The Condominium Authority of Ontario explains that new condo buyers have a 10-day cooling-off period after receiving the disclosure statement and the Condo Buyers’ Guide. Many buyers then move in during interim occupancy, paying an occupancy fee to the builder, before final closing once the condo is registered.

The 2027 deadline to know

If you want Ontario’s enhanced new housing rebate on a home you will live in, CRA says the agreement must be signed by 31 March 2027. Timing your search around that date can be worth tens of thousands of dollars.

Can you buy a house faster in Ontario?

Yes, if everything is ready before you find the home. A fast purchase usually looks like this: a pre-approval with a rate hold already in hand, a lawyer chosen, deposit funds sitting in your account, an inspector booked, and a closing date of 30 days or less on a vacant home. Fast closings are easiest on vacant homes, estate sales and finished builder inventory homes.

Going firm with no conditions to speed things up is a real risk. If your financing falls through, you risk losing your deposit and being sued for the seller’s losses.

What can delay closing on a house in Ontario?

A low appraisal. If the lender’s appraisal comes in below the price, you must cover the gap in cash. My post on what happens when the appraisal comes in low sets out the options.
Financing problems. A job change, new debt or a missing document between approval and closing.
Title issues. Liens, work orders or an unregistered easement found in the title search.
The seller’s timing. A seller who cannot close on their own purchase, or a tenant who has not moved out.
New-build delays. Late construction, permits or condo registration.

Watch out

Do not quit a job, finance a car or open new credit between your pre-approval and closing. Lenders often check your credit and employment again before funding. A change that seems small can delay or kill the mortgage, and you risk losing your deposit if you cannot close.

How should I time buying if I also have to sell?

This is where most timelines go wrong. If you buy first, you may carry two homes or need bridge financing. If you sell first, you may need somewhere to live in between. In a market where homes take a month or more to sell, I usually suggest listing first or making your purchase conditional on your sale, then setting both closings a few days apart. Bridge financing can cover a short gap, but it is not automatic.

My take

In 2027 you have time on your side, so use it. Spend the first two weeks getting your pre-approval, lawyer and deposit ready, then search with a clear list. Keep your conditions in the offer, because sellers are accepting them. And if you are looking at a new build to live in, check whether you can sign before 31 March 2027, because that date could matter more than a few thousand dollars on price.

What to do next

Gather your ID, pay stubs, two years of tax documents and proof of your down payment this week.
Get a pre-approval with the longest rate hold your lender offers.
Choose a real estate lawyer and set aside your deposit before you start touring.
Decide your conditions (financing, inspection, status certificate) before you see your first home.
If you also need to sell, get a pricing opinion on your current home before you start your search.

Need help with this? Talk to me.

I’m Jatin Dua, Broker of Record at RE/MAX Quantum Realty, and I’m the best agent to do this kind of work for you in Toronto and across the GTA. Over $100 million in GTA sales and 100+ families helped sell. Feel free to contact me any time: call or text 833-330-1925 or email [email protected].

Book a free call Call 833-330-1925

Frequently asked questions

How long does it take to close on a house in Ontario?

Most resale closings in Ontario happen 30 to 90 days after the offer becomes firm, but the date is whatever buyer and seller agree in the offer. In a slower 2027 market, buyers often have more say. Your lawyer handles the title search, mortgage funds and land transfer tax, and most of that work happens in the final two weeks.

How long does a mortgage pre-approval last in Canada?

A mortgage pre-approval in Canada usually holds an interest rate for 60 to 130 days, depending on the lender, according to the Financial Consumer Agency of Canada. It is not a guarantee of a mortgage. The lender still has to approve the specific home, so keep your income and debts unchanged until closing.

How long does it take to buy a house in Toronto in 2027?

Buying a resale house in Toronto in 2027 will typically take two to five months from pre-approval to keys. GTA homes that sold in October 2026 averaged 31 days on the market, according to TRREB, and most closings are set 30 to 90 days after the offer goes firm. A narrow wish list can stretch the search.

Can you close on a house in 30 days in Ontario?

Yes, a 30-day closing is common in Ontario and can be shorter if both sides agree. It works best when you already have a pre-approval, a lawyer, your deposit and down payment ready, and the home is vacant. Leave more time if you need to sell your current home or are buying around a holiday.

How long is the conditional period on an offer in Ontario?

The conditional period is whatever the offer states, but five business days is common in the GTA for financing and a home inspection. Condo buyers also need time for a status certificate review. If a condition is not met or waived by the deadline, the deal usually ends, depending on the wording.

How long does it take to buy a pre-construction home in Ontario?

A pre-construction home in Ontario often takes several years from signing to closing. For freehold homes, Tarion lets builders with tentative dates extend twice by up to 120 days each, and the outside closing date is 365 days after the firm closing date. Missed firm dates can bring compensation of up to $7,500.

What can delay a house closing in Ontario?

Common delays in Ontario include a low appraisal, a change in the buyer’s job or credit before funding, title problems such as liens or work orders, a seller who cannot move out on time, and builder delays on new homes. Most can be avoided by keeping your finances unchanged and having your lawyer review documents early.

When do you pay land transfer tax when buying a house in Ontario?

You pay Ontario land transfer tax on the closing day, through your lawyer, when the deed is registered. Inside Toronto you also pay the City’s municipal land transfer tax. Eligible first-time buyers can claim up to $4,000 back from Ontario at registration and up to $4,475 from Toronto.