Published 21 September 2026 · By Jatin Dua, Broker of Record, RE/MAX Quantum Realty
To buy a house in Toronto: set a real budget, get pre-approved, plan your down payment and closing costs, choose an agent and lawyer, search, make an offer, satisfy conditions, prepare for closing and collect the keys. Land transfer tax is due in cash on closing.
Buying in Toronto rewards preparation. Here is the whole process in order, so nothing catches you off guard.
1. Set the real budget
Work backwards from the monthly payment you’re comfortable with, not the maximum a lender will approve. Add property tax, utilities, insurance and condo fees.
2. Get pre-approved
Gather income documents, down payment statements and ID, then get a pre-approval and rate hold.
3. Plan the down payment
Use the FHSA first, then the RRSP Home Buyers’ Plan, then savings or a documented gift. Remember at least 5% on the first $500,000, 10% on the rest up to $1.5 million, and 20% at $1.5 million or more.
4. Budget closing costs in cash
Ontario and Toronto land transfer tax (minus any first-time buyer rebates), legal fees, title insurance, adjustments and moving.
5. Choose your agent and lawyer
Sign a buyer representation agreement you understand. Line up a real estate lawyer before you offer.
Know what your home is worth
Most of these decisions come back to a number. Get a free AI estimate of your home’s value in about a minute.
Free tool — AI home value estimator
Instant Home Valuation
What’s your home
worth today?
Answer six quick questions and get an instant value range built from current Toronto & GTA sale data — property type, size, condition, lot and location all weighted the way a real pricing conversation weighs them. Takes about ninety seconds.
Reading recent GTA sale data…
Building your estimate
Estimated market value
—
$0–$0
Most likely value $0 · roughly $0 per square foot
What moved the number
Starting from the area baseline for your property type, here’s what each answer added or subtracted.
Market context
Recent local averages for comparison.
—
A range is a starting point.
A strategy is what sells.
This model doesn’t know that your neighbour’s identical semi went $80,000 over asking last month, or which two upgrades actually pay back in your area. That conversation is free and takes twenty minutes.
6. Search with intent
Narrow neighbourhoods, then property types. Check what is planned nearby and, for condos, the building’s finances.
7. Make an offer
Decide on price, deposit, conditions and closing date. On offer nights, do your inspection and financing homework in advance.
8. Satisfy conditions
Complete financing, inspection and status certificate review within the condition period, then waive in writing.
9. Prepare for closing
Send documents to your lender, sign with your lawyer, arrange insurance, book movers for the afternoon.
10. Closing day
Your lawyer registers the transfer, funds move, and keys are released.
The takeaway
Do the money and paperwork steps before you search, and have a lawyer ready before you offer.
Talk it through with me
Get a first-time buyer plan
Tell me your savings, income range and target area. I will send a realistic price range and next steps.
I will come back to you personally, usually the same day. If it is urgent, call or text 833-330-1925.
Frequently asked questions
What is the first step to buying a house in Toronto?
Set a realistic budget and get a mortgage pre-approval.
How much down payment do I need?
At least 5% of the first $500,000 and 10% of the rest up to $1.5 million; 20% at $1.5 million or more.
Do I need a lawyer to buy a house in Ontario?
Yes. A real estate lawyer handles title, funds, registration and closing.
How long does the whole process take?
Searching varies widely; from a firm offer to closing is commonly 30 to 90 days.
Sources
- Financial Consumer Agency of Canada — down payment — minimum down payment rules
- City of Toronto — municipal land transfer tax — rates and rebates
Related reading
- Buying a Toronto Home Remotely: Virtual Tours, Remote Closings and What to Watch
- 12 First-Time Home Buyer Mistakes in Toronto (and How to Avoid Them)
- Closing Costs When Buying a Home in Toronto: The Full List
- FHSA 2026: Limits, Carry-Forward and How Toronto Buyers Use It
About the author — Jatin Dua, Toronto and GTA real estate broker
I am Jatin Dua, Broker of Record and co-founder of RE/MAX Quantum Realty Inc., Brokerage, Unit 101, 799 The Queensway, Etobicoke. I work with buyers and sellers across Toronto and the GTA, with deep local knowledge of the west end. Four-plus years of active GTA transactions and over $100 million in sales volume. Every market figure here comes from TRREB’s published tables and every rule from RECO or Ontario legislation, so you can check all of it without asking me.
Reach me at connect@jatindua.com or 833-330-1925, or book a call.