Price
- What you can comfortably afford
- Monthly mortgage payments
- Down payment and closing costs
- Room for future expenses
THE BUYER TRIANGLE
Find your right balance.
Price, property and location work together. Clarifying where you can be flexible helps you focus on homes that fit your lifestyle, goals and budget.
▶ Watch the short videoBefore thinking about offers, understand what you’re looking for.
Start with your priorities: price, property type and location. Watch Richard’s introduction, then use the three choices below to focus your search.
Where do I start when buying a home? →Property
- Home type: detached, townhome or condo
- Size, layout and usable space
- Features and property condition
- Fit with your lifestyle and needs
Location
- Neighbourhood and community
- Access to work, schools and amenities
- Lifestyle and daily convenience
- Long-term value and growth
Your Ideal HomeWhere your goals come together
What can you be flexible on?
Price + property are fixed
You may need flexibility on location.
Price + location are fixed
Consider which property features can change.
Property + location are fixed
Revisit the price and monthly comfort before making an offer.
ANATOMY OF AN OFFER
What Needs to Be Considered When Placing an Offer
An offer combines financial terms, timing and protections. Each part can affect how attractive—and how safe—the offer is.
Price
The amount offered and the market evidence supporting it.
Deposit
Funds showing commitment and credited toward the purchase.
Closing
The date ownership, funds and keys transfer.
Conditions
Protections that allow defined reviews before the deal becomes firm.
Other Terms
Inclusions, exclusions, rental items, representations and additional clauses.
THREE COMMON CONDITIONS
Know what protects you before the offer becomes firm.
Financing
Provides time to secure satisfactory lender approval for you and the specific property before the agreement becomes firm.
Home Inspection
Provides time for a qualified inspector to assess visible systems and components so you can evaluate material concerns.
Status Certificate
For condominiums, gives your lawyer time to review the corporation’s governing documents, finances, insurance and unit-related information.
CLOSING COSTS
Don’t Forget There Are Closing Costs.
Land transfer tax is paid in addition to your down payment and other closing expenses. First-time buyer rebates can reduce the amount, subject to eligibility.
Alongside your down payment, allow for legal fees, applicable insurance tax and closing adjustments. The dedicated guide explains these costs and estimates the cash needed for your purchase.
Land transfer tax estimate
ESTIMATED TAX PAYABLE
$0Ontario LTT $0Toronto MLTT $0Ontario refund −$0Toronto rebate −$0
Final tax and eligibility are confirmed by your lawyer.VERIFY THE DETAILS
Official sources
Rules, limits and eligibility can change. Use these primary sources and confirm how they apply to your situation.
- Ontario land transfer tax ↗
- City of Toronto municipal land transfer tax ↗
- RECO information for buyers ↗
Links and program information reviewed September 24, 2026.