Buying a home is one of life's biggest milestones. To help you feel confident and prepared, this step-by-step guide outlines what to expect throughout the buying process in Canada. Our goal is to reduce stress, set clear expectations, and help you enjoy the journey of purchasing your first home.
Do you already know which neighbourhood you want to live in? Are you looking for a condo, townhome, or a detached house? Which features matter most to you?
If you're unsure about any of these, now is the time to start researching.
Browse current listings, explore different areas, and pay attention to how asking prices and days-on-market trends vary. This will help you understand what's realistic within your future budget and prepare you for making a competitive offer.
Before speaking with a lender, determine the monthly payment you feel comfortable with. A mortgage pre-approval may qualify you for more than you actually want to spend - so start with your personal comfort level.
Create or update your household budget and consider all costs of owning a home, such as:
If you've previously rented or lived with others, these extra expenses can be easy to overlook but can significantly impact affordability.
A mortgage pre-approval gives you a clear sense of the price range you can shop in and strengthens your offer when you find the right home.
Lenders will review your income, employment history, credit score, debts, and financial stability.
A pre-approval:
Before falling in love with a home, speak to a mortgage professional to confirm what you can comfortably and realistically borrow.
While you can technically buy a home without an agent, having professional representation costs you nothing as a buyer and can save you time, money, and stress.
We help by:
Our experience ensures you understand the market, avoid common pitfalls, and feel confident in every step toward your new home.
Our goal is to provide you with the most personalized service that is designed to help you buy your dream home
This is the fun part! We'll arrange showings for homes that fit your criteria and price range.
During visits:
Remember, you're not choosing a home - you're choosing a community.
Once you've found the right home, we'll work together to craft a competitive offer based on recent comparable sales and current market conditions.
Depending on whether it's a buyer's or seller's market, your offer may be below, at, or above the list price.
If the seller counters, we'll guide you through negotiations to reach an agreement.
In Canada, once an offer is accepted, the transaction moves into the conditional period (if applicable), during which inspections, financing confirmation, and document reviews take place. Once conditions are met, the offer becomes firm.
Most offers include a home inspection condition to identify any major structural issues or costly repairs.
If the inspection reveals concerns, you may:
If everything checks out, you proceed confidently to the next steps.
Return to your mortgage lender or broker to finalize your mortgage product.
In Canada, you'll choose from options such as:
Your lender will help you select the mortgage that best fits your financial goals and comfort level.
Your lender may order an appraisal to confirm the property's market value and ensure the purchase price aligns with the lender's risk guidelines.
This protects both you and the lender from overpaying for the property.
In Canada, a real estate lawyer (or notary in some provinces) manages the legal closing process. They will:
Once everything is signed and the funds are transferred to the seller on closing day, the home officially becomes yours.
When the final paperwork is complete and closing funds have been transferred, you'll receive your keys and can step into your new home with confidence.
The process may take a few days depending on your lender and lawyer, but once everything is finalized, you're ready to move into the home of your dreams.
After signing the final paperwork to complete the purchase, you are now the owner of a new house. It may take a few days for your loan to be funded once the paperwork has been returned to the lender, but once that check is delivered to the seller, you’ll be all set to move into the home of your dreams.
Discover the difference of working with Ottawa’s most trusted real estate team. Experience three generations of expertise, local insight, and personalized service that delivers exceptional results.
