Buying & Selling in Ontario

Start with your numbers, know the steps, and get advice on your specific deal before you commit. Know your budget before you shop, get pre-approved, and budget for closing costs — then search with your criteria and verify the deal before you offer.

• Know your budget before you shop. Work out the price range you can actually afford, including your down payment and monthly costs, before you look at homes.
• Get pre-approved and check the mortgage stress test. A pre-approval tells you what a lender will offer and what rate you can count on. Your approval is also tested at a higher qualifying rate, so plan for that payment, not just the advertised one.
• Budget for closing costs, not just the price. On top of the purchase price, Ontario buyers pay costs such as land transfer tax, legal fees and a home inspection. Build these into your budget so there are no surprises at closing.
• First-time buyer? Check what help is available. First-time buyers may be able to use programs such as the Home Buyers' Plan and provincial incentives — check what applies to you.
• Search with your criteria, then verify the deal. Search listings by price, area and property type, and review each property's numbers — price, taxes, condition and comparable sales — before you offer.

Start here

• Affordability Calculator — work out the price range you can actually afford.
• Home Buyer Search Hub — search listings by price, area and property type.
• First-Time Buyer Incentive Checker — see what help applies to you as a first-time buyer.

Pricing starts with evidence: recent comparable sales in your area, your home's condition and current market conditions. Get a current estimate before you set a price, understand your costs as a seller, and read every offer carefully.

• Find out what your home is worth first. Pricing starts with evidence: recent comparable sales in your area, your home's condition and current market conditions. Get a current estimate before you set a price.
• Understand your costs as a seller. Sellers also have closing costs, including legal fees and any mortgage discharge costs, and your sale proceeds are what remain after your mortgage and those costs are paid.
• Present the home well. Declutter, fix small visible issues, and make sure the home photographs well. First impressions — online and at the door — decide whether buyers book a showing.
• Read the offer carefully. Price is only part of an offer. Conditions, deposit, closing date and what is included all matter, and a higher price with risky terms is not always the better deal.
• Use a real estate lawyer for closing. In Ontario, a real estate lawyer handles the closing, title search and transfer of funds. Your lawyer protects your interests through the closing process.

Start here

• Home Valuation — find out what your home is worth first.
• Sell With Sim — sell with Sim, with pricing based on recent comparable sales.

Judge a deal on real cash flow — monthly cash flow, cash to close, and return, on your numbers — not a computer estimate. If the numbers do not work, Sim will tell you. No pressure to buy.

• Run the full cash-flow analysis. Monthly cash flow, cash to close, and return, on your numbers — not a computer estimate.
• Use your rent assumption, not ours. Tell Sim the rent you are underwriting. He will not assume a market rent for your property. Your number is the starting point.
• Include closing costs. Land transfer tax, legal, and the other costs buyers miss — build them into the deal before you decide.
• Verify the deal before you offer. Review each property's numbers — price, taxes, condition and comparable sales — before you offer.

Start here

• Investment Deal Analyzer — run the numbers before you buy.
• Free Deal Review — send a listing and Sim will run a full deal review and walk you through it, line by line.

Budget for closing costs, not just the price. On top of the purchase price, Ontario buyers pay costs such as land transfer tax, legal fees and a home inspection — and sellers have closing costs too. After closing, plan for the ongoing costs of owning.

• Budget for closing costs. On top of the purchase price, Ontario buyers pay costs such as land transfer tax, legal fees and a home inspection. Build these into your budget so there are no surprises at closing.
• Sellers have closing costs too. Sellers also have closing costs, including legal fees and any mortgage discharge costs, and your sale proceeds are what remain after your mortgage and those costs are paid.
• Use a real estate lawyer for closing. In Ontario, a real estate lawyer handles the closing, title search and transfer of funds. Your lawyer protects your interests through the closing process.

Closing & ownership checklist

• Real estate lawyer
• Home insurance
• Utilities
• Maintenance reserve

Start here

• Closing Costs Calculator — estimate land transfer tax and legal fees.