An Introduction
Buying a home is one of the most significant financial investments most people make. This guide outlines the general home-buying process in Canada and explains the roles of the professionals involved. It is intended to educate and prepare prospective buyers but does not replace professional advice tailored to your specific situation.
Safeguarding Your Investment
Experienced advisors can help you avoid costly oversights. We help clients evaluate disclosures, identify risks, and develop negotiation strategies to secure a home at a competitive price given current market conditions.
Whether you’re a first-time buyer, an international purchaser, or an investor expanding a portfolio, expert guidance, accurate market data, and careful due diligence protect your financial and legal interests.
The Power of Local Expertise
Local agents bring in-depth knowledge of neighbourhoods, pricing trends, and community specifics that impact long-term value. Our national network of advisors provides local insight across Canada’s major markets and beyond.
A Global Network at Your Service
With an international network of thousands of advisors, you benefit from market reach and access to properties across Canada and abroad. This is particularly helpful if you are relocating, searching cross-border, or seeking off-market opportunities.
Parties Involved When Buying
This is a concise overview of the professionals you will typically interact with during a transaction:
- Buying Agent
- Your primary advocate and guide throughout the search, offer, negotiation, and closing process.
- Listing Agent
- The seller’s representative responsible for marketing and negotiating on behalf of the vendor.
- Mortgage Broker / Lender
- Helps secure financing and advises on mortgage types and terms.
- Property Inspector
- Conducts a detailed inspection to identify issues that could affect value or safety.
- Appraiser
- Provides an independent valuation for lenders and buyers.
- Lawyer / Notary
- Handles legal review, title search, registration, and closing paperwork.
- Insurance Broker / Provider
- Helps obtain home insurance required by lenders and recommended for risk protection.
- Land Surveyor
- Provides property boundary and measurement documents when required.
Buying a Home in Canada — The 8-Step Journey
- Define your goals
- Secure financing
- Select the right agent
- Find your home
- Submit your offer
- Negotiate successfully
- Manage the sale (conditions & financing)
- Close the deal
Step-by-Step Guidance
Step 1 — Define Your Goals
Identify your budget range, lifestyle needs, time horizon, and property type (condo, townhouse, single-family, investment, vacation). Consider how long you plan to stay and any future life-stage requirements (children, aging relatives, work-from-home).
Step 2 — Secure Your Financing
Meet with lenders or brokers to understand mortgage types (closed, open, conventional, high-ratio), amortization, mortgage terms, and interest-rate options (fixed, variable, adjustable). Obtain written pre-approval to strengthen your offer.
Step 3 — Select the Right Agent
Interview agents, assess their local experience, negotiation track record, and communication style. A good agent will refine your search, alert you to suitable listings (including off-market opportunities), and advocate for your interests.
Step 4 — Find Your Home
Use targeted search criteria and private viewings to identify homes that match your priorities. Consider factors that impact value: location, lot, condition, age, features, and nearby amenities.
Step 5 — Submit Your Offer
Work with your agent to prepare a legally binding offer that addresses price, inclusions, deposit amount, possession and closing dates, and any conditions (financing, inspection, appraisal). Understand local practices and timelines.
Step 6 — Negotiate Successfully
Be prepared for acceptance, a counteroffer, or rejection. Remain clear on your maximum budget and priorities; multiple-offer situations require strategy, speed, and sometimes flexibility on conditions or timelines.
Step 7 — Managing the Sale
After acceptance, satisfy all conditions (inspections, financing, appraisal) within the agreed timelines. Coordinate with your lender and legal team, and prepare for moving logistics and transfer of utilities.
Step 8 — Close the Deal
On closing day, funds transfer, title registration, and final documents are completed by your legal representative. Bring photo ID, proof of funds or wiring confirmation, and insurance documents for the transaction.
Glossary (selected)
- Amortization
- The length of time required to repay the entire mortgage debt.
- Appraisal
- An unbiased assessment of property value used by lenders to verify loan amounts.
- Closing Costs
- Fees and charges in addition to the purchase price — e.g., legal fees, transfer taxes, adjustments.
- Deposit
- Funds provided on acceptance to demonstrate the buyer’s commitment (held in trust until closing).
- High-Ratio Mortgage
- A mortgage with a down payment of less than 20% and typically requires mortgage loan insurance.
- Subject / Condition
- A clause in an offer that must be satisfied (e.g., financing, inspection) before the sale becomes final.
Full glossary available in the original guide.
FAQs
What additional costs can I expect?
Expect additional fees averaging roughly 2–3% of the purchase price: appraisal, inspection, legal fees, mortgage loan insurance (if applicable), land transfer taxes, and potential adjustments.
Can I buy without an agent?
Yes, but working with an agent is recommended. Agents provide market expertise, negotiation experience, transaction management, and access to a network of trusted professionals.
Celebrating a Successful Purchase
Buying a home is a major milestone. With careful planning, professional advice, and the right team, you’ll protect your investment and enjoy your new home with confidence.