Toronto
Real Estate
FAQ
Honest answers to the questions every Toronto buyer, seller, and investor actually asks.
The Fundamentals of Buying a Home in Toronto
From the first dollar to the final signature, here is what every buyer needs to understand before making a move in the Toronto market.
How much down payment do I need to buy a home in Toronto?
The legal minimum in Canada is 5% on homes up to $500,000 and 10% on the portion between $500,000 and $1.5 million; homes priced at $1.5 million or more require at least 20% down and cannot be insured. But the minimum and the right number are often different things. Putting less than 20% down means paying mortgage default insurance (from CMHC or a private insurer), and the premium is typically added to your mortgage, which increases the amount you borrow. A larger down payment reduces your monthly payments and can strengthen your offer in a competitive situation. Before deciding, run the full math with a mortgage professional who knows the Toronto market, not just what you technically qualify for. Dave's full guide to down payments and deposits in Toronto walks through the numbers in detail.
What are the closing costs when buying a home in Toronto?
Most buyers are caught off guard by closing costs, not because they are hidden but because nobody walks them through the math early enough. In Toronto, the biggest single closing cost is the land transfer tax. Because you pay both the provincial and municipal versions, it adds up fast on a typical purchase. On top of that, budget for legal fees, title insurance, and adjustments for prepaid property taxes or utilities, plus a home inspection if you arrange one. As a planning rule, many Toronto buyers should have approximately 2% to 4% of the purchase price available beyond the down payment for land transfer taxes and other transaction expenses, though the actual percentage varies substantially with price and any first-time-buyer rebates. The full Toronto home buying guide includes a complete closing costs breakdown.
What is the Toronto Land Transfer Tax?
Toronto is one of the only cities in Canada where buyers pay two land transfer taxes: one to the province of Ontario and one to the city. On a $900,000 home, the combined amount is approximately $28,000 to $30,000. That number changes what you can actually afford and needs to be part of your budget before you start making offers, not after. First-time buyers are eligible for rebates on both taxes, which can reduce the total cost significantly. Dave walks every buyer through these numbers at the start of the process so there are no surprises at closing. Read the complete guide to land transfer tax in Toronto.
Do first-time home buyers receive any rebates or incentives?
Yes, and there are more of them than many buyers realize. First-time buyers may qualify for several programs depending on the purchase. These include the Ontario and Toronto land transfer tax rebates (up to $4,000 and up to $4,475 respectively), the First Home Savings Account (FHSA), and the RRSP Home Buyers' Plan, which currently allows eligible buyers to withdraw up to $60,000. Buyers of qualifying new or substantially renovated homes may also be eligible for the federal and Ontario new-home GST/HST rebates introduced in 2026, up to $50,000 federally and up to $80,000 from the Ontario first-time-buyer rebate for qualifying new homes. Eligibility differs by program and changes over time, so confirm your situation with your mortgage professional, accountant, and real estate lawyer before relying on any rebate. The first-time buyer's guide covers the available programs in detail.
How much does a real estate agent cost in Toronto?
Real estate commission in Ontario is negotiable; there is no fixed or mandated rate. Sellers typically negotiate the listing brokerage's compensation as part of the listing agreement. Buyers who enter into a buyer representation agreement also agree to how their brokerage will be paid, and in many transactions some or all of that amount is covered through compensation associated with the seller's transaction; buyers should read their representation agreement, though, because they may be responsible for any amount not otherwise covered. For a seller, the number that matters most is ultimately the net proceeds after all selling costs, not commission in isolation. That conversation starts with a free strategy session.
Do I need a buyer's agent to buy a home in Toronto?
You are not legally required to have one, but in Toronto's market it is strongly advisable. If you enter into a buyer representation agreement, your designated representative owes duties to you and advocates for your interests, while a listing representative owes duties to the seller client. Buyers can choose to be self-represented, but they do not receive the same representation and advice. In a competitive environment where offer strategy, condition language, and timing can mean the difference between winning and losing a bidding war, having an experienced representative in your corner is a significant advantage. The value of a good buyer's agent is not just access to listings. It is knowing when to move, when to walk away, and how to structure an offer that protects you without costing you the deal. The 5 most common mistakes first-time buyers make covers what happens when buyers navigate this alone.
How does the home buying process work in Toronto?
Five stages: get financially prepared and pre-approved so you know your true budget; search and evaluate properties in the neighbourhoods that fit your life; complete the appropriate property and legal due diligence, such as reviewing a status certificate or arranging an inspection; structure and negotiate the offer, including any necessary conditions; then satisfy or waive those conditions and proceed to closing. In competitive Toronto listings, where multiple offers and tight timelines can occur, how you handle the offer stage is often what determines success. Dave walks every client through each step. For a full walkthrough, see the complete guide to buying a home in Toronto.
What documents do I need to buy a home in Toronto?
At minimum expect to provide government-issued ID, recent pay stubs, T4s or tax returns for the past two years, a letter of employment, and bank statements showing your down payment. Self-employed buyers typically face more scrutiny and need additional documentation around income. The most important step is getting pre-approved before you start your search, so you are not scrambling for paperwork the moment you find a property you want. In a fast-moving Toronto market, delays in documentation can cost you the deal. The purchase calculators can help you stress-test your budget while you gather documents.
How long does it take to buy a home in Toronto?
Anywhere from a few weeks to several months, and rushing is one of the most expensive mistakes buyers make. Once you have an accepted offer, most transactions close in 30 to 90 days. What buyers often underestimate is the preparation phase: getting pre-approved, understanding the market, and building a clear picture of what you are looking for. Getting that foundation right before you start actively searching is what separates buyers who find the right place from buyers who settle.
What is Kitec plumbing and why does it matter when buying a home in Toronto?
Kitec plumbing is a type of flexible piping installed in many Toronto homes built or renovated between approximately 1995 and 2007. It has a documented history of failures and leakage concerns that can result in burst pipes, significant water damage, and expensive remediation. It is often recognizable by its orange (hot) and blue (cold) flexible piping and branded fittings, though colour alone is not definitive, so a qualified inspection is the reliable way to confirm it. This is one of the most important things a home inspection can uncover, and it should affect how you approach pricing and negotiation on any property where it is present. Dave's full guide to Kitec plumbing in Toronto explains what to look for, what remediation costs, and how to negotiate when it is present.
How Offers Work, Condos, and the Fine Print
The parts of the buying process that trip up even experienced buyers, explained plainly.
How do multiple offers work in Toronto?
In a multiple-offer situation, the seller decides how and when offers will be reviewed. Many Toronto listings use a scheduled offer-presentation time, while others consider offers as they arrive or permit a pre-emptive offer if the seller's written direction allows it. Buyers generally do not see competing offer terms, so price, conditions, deposit, closing date, and other terms all matter. The highest number does not always win: a strong deposit, a flexible closing date, and clean terms can weigh as much as price, though buyers should weigh the real financing and inspection risk carefully before removing conditions. Dave's approach to multiple offers is built around understanding what the seller actually wants and structuring the offer accordingly.
What does "sold conditionally" mean in real estate?
A conditional sale means an offer has been accepted but one or more conditions still need to be fulfilled or waived before the deal becomes firm. The most common conditions are financing and home inspection. The seller remains bound by that agreement, although they may sometimes consider or accept a backup offer subject to the first deal. Some agreements contain an escape clause allowing the seller to require the first buyer to waive their conditions within a specified period if another acceptable offer arrives; the exact timing depends on the contract. For buyers, understanding the status of a listing affects your approach. For sellers, a conditional offer carries some risk that the deal falls through. Dave's full guide to what "sold conditionally" means in real estate covers exactly how the conditional period works and what your options are.
What is an assignment sale in Toronto?
An assignment sale occurs when the original buyer of a property, usually a pre-construction condo, transfers their purchase agreement to a new buyer before the property closes. The original buyer is selling their rights to the purchase rather than the completed unit itself. This can happen when a buyer's circumstances change, or when there is an opportunity to capture appreciation that has occurred since the original purchase. Assignment sales involve their own legal and financial considerations, including whether the original agreement permits assignment. Since May 7, 2022, assignment sales of newly constructed or substantially renovated residential housing are generally taxable for GST/HST purposes, and the income-tax treatment can depend on the circumstances, so buyers and sellers should get tax and legal advice before proceeding. Dave's full breakdown of assignment sales in Ontario covers how the process works and what to watch for as a buyer or seller.
What should I know before buying a condo in Toronto?
Buying a condo in Toronto is meaningfully different from buying a freehold property. Before making an offer, review the status certificate carefully. It provides important information about the corporation's finances, reserve fund, insurance, common expenses, legal matters, rules, and certain known financial obligations or issues. A real estate lawyer should review the status certificate before you waive any conditions. Beyond the financials, consider the building's age, management company, suite layout relative to maintenance fees, and whether the rules fit how you plan to live. Dave's complete guide to buying a condo in Toronto walks through every step of the process.
What are condo maintenance fees in Toronto?
Maintenance fees are monthly charges paid by condo owners that cover the costs of running and maintaining the building's shared spaces and services. What is included varies by building but typically covers building insurance, lobby and amenity maintenance, water, sometimes heat, and contributions to the reserve fund. In Toronto, monthly fees vary widely depending on the building's age, amenities, and management quality. A high fee is not always a red flag, and a low fee is not always a green one. What matters is what you get for it and whether the reserve fund is adequately funded. The full guide to condo maintenance fees in Toronto explains how to evaluate whether a building's fee structure makes sense.
When to Move and How to Think About It
The market will always have an opinion. Here is how to decide based on your situation rather than a headline.
Is it a good time to buy a home in Toronto?
It depends on your situation, not the market cycle. Trying to perfectly time the Toronto real estate market is extremely difficult. What matters most is whether you can comfortably afford the purchase, expect to stay long enough to justify the transaction costs, and have enough financial flexibility to handle changes in rates, expenses, or life circumstances. Dave's approach starts with understanding your goals first, then building a strategy around them.
Is it better to buy or rent in Toronto?
This depends on your timeline more than anything else. With a short expected holding period, renting can often be more economical once Toronto's land transfer taxes and eventual selling costs are included. If your horizon is longer, buying may make sense because principal repayment builds equity and ownership provides greater housing stability, but the result depends on the purchase price, financing costs, maintenance, taxes, future sale costs, and what comparable rent would cost. The rent vs. buy calculation shifts as Toronto prices and interest rates change, so it is worth running your specific numbers rather than relying on a general rule. Dave's full comparison of renting vs. owning in Toronto includes real scenarios and an interactive calculator.
Should I buy or sell first in Toronto?
This is one of the most common and genuinely difficult decisions homeowners face, and there is no universal right answer. Buying first gives you certainty about your next home, but it creates financial exposure if your current property takes longer to sell than expected. Selling first eliminates that risk but may leave you in temporary housing if you cannot find the right property within your closing timeline. The right sequence depends on your financial position, local market conditions, and your tolerance for uncertainty. Dave's detailed guide to whether you should buy or sell first walks through both scenarios and helps you figure out which approach fits your situation.
Finding the Right Part of Toronto
The neighbourhood you buy in matters as much as the home itself. Here is how to think about it.
What are the best Toronto neighbourhoods for families?
Popular family choices include Leaside for its schools and detached housing stock, The Beaches for green space and proximity to the lake, High Park for the park and the established streets around it, Bloor West Village for walkability and neighbourhood character, and Leslieville for a younger east-end energy without giving up parks and schools. Each trades off differently on price, housing type, and commute. Dave can help you work through which tradeoffs matter most for your family.
What are the best Toronto neighbourhoods for first-time buyers?
First-time buyers are typically balancing price against how much room an area has to grow. Areas many first-time buyers consider include The Junction, East York, and St. Clair West, along with Mimico and Long Branch on the western waterfront, depending on budget and housing type. The best neighbourhood is the one that fits your budget today while putting you in a strong position when it is time to move up.
Which Toronto neighbourhood is right for me?
That depends on your budget, home type, commute, lifestyle, and how you want to spend your weekends. Toronto has dozens of distinct neighbourhoods, from the lakeside ease of The Beaches to the upscale calm of Rosedale to the creative energy of Leslieville. The Own In Toronto neighbourhood quiz matches your answers across 15 questions to your top neighbourhood fits. Dave can then walk you through what is realistic within those areas given your budget and goals. Browse all Toronto neighbourhood guides to get a feel for what each area is actually like.
What You Need to Know Before Listing in Toronto
Selling is more than putting up a sign. Here is what actually determines your result.
What does it cost to sell a home in Toronto?
Most sellers focus on commission and miss the full picture. Beyond real estate commission, budget for legal fees, staging, professional photography, moving expenses, and any pre-listing repairs or improvements. For many properties, staging alone can range from a few thousand dollars to significantly more depending on size and condition. Whether full staging is worthwhile depends on the property, the current competition, and how the existing furniture presents. The total varies significantly depending on the property, the neighbourhood, and how aggressively you prepare. Dave's full guide to selling your home in Toronto includes a realistic cost breakdown, and the seller net proceeds guide shows exactly what hits your account after closing.
What does a seller actually take home after selling in Toronto?
Most sellers anchor on the list price and are surprised by how much comes off before they see the money. Beyond real estate commission, deduct legal fees, any outstanding mortgage balance, property tax adjustments, moving costs, and pre-listing preparation expenses. The number that actually hits your account is your net proceeds, and understanding that number in advance is essential to planning your next move, especially if you are counting on sale proceeds to fund a purchase. Dave's breakdown of what a seller actually takes home walks through a realistic example so you can build your budget around real numbers rather than the headline price.
Should I renovate my home before selling in Toronto?
Not automatically, and not before understanding what buyers in your specific neighbourhood are actually looking for. The renovations that most reliably improve sale prices are the ones that remove obvious objections, not the ones that reflect the current owner's taste. In some markets, an updated kitchen or bathroom will have buyers paying more. In others, the same money spent on paint, cleaning, and decluttering gets a better return. Dave reviews every property before listing and gives an honest read on what is worth doing and what is not, including when the right answer is nothing at all.
How does home staging work and is it worth it in Toronto?
Staging is the process of preparing and presenting a home so that it photographs and shows at its best. This can range from minor decluttering and rearranging existing furniture to bringing in professional furniture, artwork, and accessories for a vacant property. The goal is to help buyers see themselves living in the space and to minimize objections during showings. When done well, staging helps a home present at its best and show more effectively. Dave's complete guide to staging your home for sale in Toronto covers what staging actually costs, what makes a meaningful difference, and how to work with a stager to maximize your return.
When is the best time to sell a home in Toronto?
Spring is the busiest selling season in Toronto, which means more buyers and more competition from other sellers at the same time. Fall runs a close second. Winter is slower but often underrated for sellers, because buyers who are looking in January are serious buyers competing for less inventory. The best time to sell depends on your property type, condition, neighbourhood, and personal circumstances. There is no universally correct answer, but there is a right answer for your situation, and the two are not always the same. Dave's guide to pricing your Toronto home covers how timing affects your pricing strategy.
Life After Closing and Building Wealth Through Real Estate
What comes next after you own, and how to think about Toronto real estate as an investment.
What should I do after closing on my Toronto home?
In the first week: change the locks, locate your shutoff valves (water, gas, electrical panel), test smoke and carbon monoxide detectors, and forward your mail. Shortly after: update your address with the government, your bank, and service providers, set up utilities in your name if not already done, and review what home maintenance tasks are due seasonally. These steps are easy to defer and easy to forget, which is how small issues become expensive ones. Dave's complete guide to what to do after closing on your Toronto home covers the full checklist so nothing falls through the cracks. The house maintenance and seasonal guide is also worth bookmarking for year-round reference.
Can I build a laneway suite in Toronto?
Laneway suites are self-contained secondary units built in the rear of a Toronto property, typically alongside or above the laneway. The City of Toronto first permitted laneway suites in the Toronto and East York area in 2018 and expanded them across much of the city in 2019. For homeowners, a laneway suite can create an additional dwelling unit and potential rental income. Its feasibility, cost, timeline, and effect on resale value depend on the property, the design, the approvals, and construction conditions. Eligibility depends on your property's access to a laneway, setbacks, and other zoning requirements. Dave's full guide to laneway suites in Toronto covers the eligibility rules, estimated costs, and what to consider before starting the process.
How does real estate investing work in Toronto?
Toronto investors commonly pursue long-term rentals, renovation or redevelopment strategies, or pre-construction purchases. Each has different financing, tax, vacancy, regulatory, and market risks. The economics should be evaluated using realistic rent, operating cost, financing, and exit assumptions rather than anticipated appreciation. What separates successful investors from those who struggle is usually not the property itself; it is the purchase price, the financing structure, and a clear understanding of carrying costs. Dave's guide to investing in real estate in Toronto covers the fundamentals, and the investment properties page outlines how Dave approaches investor clients specifically.
Who Dave Works With and How to Get Started
What to expect when you work with Own In Toronto, and how the first conversation works.
What areas of Toronto does Dave Deutsch help clients buy and sell in?
Dave works with buyers, sellers, and investors across Toronto, including midtown neighbourhoods such as Oakwood Village, Cedarvale, Wychwood, Leaside, Rosedale, and Forest Hill, the St. Clair West corridor, the east end including Leslieville, The Beaches, and East York, and the west end including High Park, Bloor West Village, and The Junction. If you are buying or selling somewhere specific, reach out and Dave will give you an honest read on how well he knows the area.
Why work with Own In Toronto?
Most real estate websites are built to generate leads. Own In Toronto was built to help people make better decisions. The difference shows up in how Dave approaches every client relationship: honest advice even when it is not what you want to hear, a clear strategy built around your specific goals, and neighbourhood knowledge that only comes from genuinely caring about the city. Dave works with a limited number of clients at a time by design, so every buyer and seller gets the attention they deserve rather than being handed off to a team. The goal is not to close a transaction. It is to help you make a decision you will be glad you made. Read more about Dave's background and approach on the Meet Dave page.
How do I start working with Dave Deutsch?
The first step is a free, no-obligation strategy session: a 30-minute conversation where Dave learns about your goals, timeline, and situation, and gives you an honest read on what is achievable in today's market. No sales pitch, no pressure. Visit the contact page or call (647) 294-4140. Dave works with a limited number of clients at a time so every buyer and seller gets his full attention. Not ready to talk yet? Get the weekly Toronto market newsletter to stay informed while you plan your next move.
Still Have Questions?
Book a free strategy session with Dave. Whether you are buying, selling, or still figuring out your next move, you will walk away with clear answers and a plan tailored to your situation.
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