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What to Do
Homeowners Guide
What to Do
After Closing
You have the keys. Here's a practical first-30-days timeline covering everything from changing your locks to registering for property tax.
Keys usually release mid-to-late afternoon · Change your locks on Day 1 · Notify CRA of your new address within 30 days
01
The Big Day
What Actually Happens on Closing Day
Closing day is exciting, but it can also feel anticlimactic if you don't know what to expect. There is very little for you to do. Your lawyer handles the heavy lifting: confirming funds have arrived, registering title in your name, and notifying the seller's lawyer that everything is in order. Then, and only then, are the keys released.
The process rarely moves quickly. Plan for an afternoon key pickup and do not book a morning move-in without confirming the timing with your lawyer first.
1
Morning: Your Lawyer Confirms Readiness
Your lawyer verifies that all mortgage funds have been received from your lender and that all closing conditions have been satisfied. If you have any outstanding documents or items, this is when you would be notified.
2
Funds Are Transferred to the Seller
Your lawyer sends the purchase funds (your down payment plus the mortgage) to the seller's lawyer. This typically happens mid-morning to early afternoon.
3
Title Is Registered in Your Name
Once funds are confirmed, title is electronically registered through Teraview (Ontario's land registry system). This is the legal moment ownership transfers to you.
4
Keys Are Released
Your real estate agent (or lawyer) will call when the keys are ready. This is typically between 2pm and 5pm. The keys may be at a lockbox, a brokerage office, or your agent will deliver them directly.
5
Do Your Final Walkthrough
Ideally done the day before closing, the final walkthrough confirms the home is in the same condition as when you made your offer, that all agreed inclusions are present, and that the property is vacant and broom-swept. If you have not done it yet, do it before your movers start unloading.
Pro Tip
Tell your movers the key release is typically 3pm or later. Booking them for 9am creates unnecessary stress. A late-afternoon or next-day move-in is often the more sensible plan.
02
Day One
The First 48 Hours: Non-Negotiables
Before you unpack a single box, there are a handful of things to take care of. Some are safety issues, some are practical, and one is so obvious it gets overlooked surprisingly often.
Do This First
Change your locks. You have no way of knowing how many copies of the keys exist or who has them. Previous owners may have given keys to cleaners, contractors, property managers, family members, or neighbours. Rekeying a lock typically costs $100 to $200 for a locksmith visit, and it's money very well spent. If you are buying a resale condo, contact building management to also update your fob access record.
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Rekey or Replace All Entry Locks Call a locksmith before or immediately after your movers arrive. Include the front door, side door, garage access door, and any storage unit locks.
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Set Up Hydro (Electricity) In Toronto proper, contact Toronto Hydro to open an account in your name. In other parts of the GTA, it may be Hydro One. This should be arranged a few days before closing, but confirm the account is active on Day 1.
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Set Up Gas Contact Enbridge Gas to open your account. If the home has a gas fireplace, furnace, or stove, you want this active immediately. Enbridge may require a service appointment to restore gas if it was shut off.
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Transfer or Set Up Internet If you have a provider, arrange the transfer or new installation well in advance. Internet setup appointments can book out a week or more, so do not leave this to the last minute.
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Locate Your Shutoff Valves Find your main water shutoff, your gas shutoff, and your electrical panel before you need them in an emergency. Walk through the home and note where each one is.
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Test Smoke and CO Detectors Ontario law requires working smoke alarms on every storey and outside every sleeping area, and CO detectors adjacent to each sleeping area if the home has gas or an attached garage. Test all of them and replace batteries if needed.
03
First Two Weeks
Notifications, Registrations, and Address Changes
The administrative side of a move is tedious, but staying on top of it in the first two weeks saves you from missed bills, government notices, and the general chaos of important mail going to your old address.
Work through this list systematically. The CRA update is the most important, since your Notice of Assessment, RRSP room, and benefit payments all depend on them having your correct address.
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Canada Revenue Agency (CRA) Update your address through My Account at canada.ca, or by calling 1-800-387-1193. This affects your tax return, RRSP correspondence, benefit payments (GST/HST credit, CCB), and Home Buyers' Plan repayment notices.
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Service Ontario Update your driver's licence, health card (OHIP), and vehicle registration within 6 days of moving under Ontario law. You can do this online at ontario.ca or in person at a ServiceOntario location.
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Your Bank and Financial Institutions Update your address with your bank, credit card providers, investment accounts, and any lenders. This includes your mortgage lender.
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Employer and Payroll Notify your HR or payroll department so that T4s and any paper correspondence reach you at the right address.
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Canada Post Mail Forwarding Set up mail forwarding at canadapost.ca. It runs for 6 or 12 months and catches anything you forgot to update. Worth the small fee as a safety net.
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Insurance Policies Update your home insurance (it should already reflect the new property, but confirm), car insurance, and any life or disability policies that list your address.
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Subscriptions, Deliveries, and Everything Else Work through your inbox and recurring charges: streaming services, online shopping accounts, magazine subscriptions, your dentist and family doctor, loyalty programs.
Note
Ontario law requires you to update your driver's licence within 6 days of moving. Most people do not know this rule exists. The fine for non-compliance is small but the habit of waiting is worth breaking.
04
The Financial Side
Property Tax, Mortgage, and Government Programs
The financial housekeeping that comes with a new purchase is not complicated, but there are a few items that new owners commonly overlook until they become problems. Getting ahead of them in the first month means fewer surprises at tax time.
1
Register for Property Tax with the City of Toronto
Set up your property tax account at toronto.ca/taxes. You can view your balance, set up pre-authorized payments, and enroll in paperless billing. Property tax bills go out in January and June, and the City may not have your new owner information on file right away, so register proactively.
2
Review Your MPAC Assessment
MPAC (Municipal Property Assessment Corporation) assesses your property value, which determines your property tax bill. You have 90 days from receiving your assessment to file a Request for Reconsideration if you believe the value is incorrect. New owners should check their assessment through AboutMyProperty at mpac.ca.
3
Confirm Your Mortgage Pre-Authorized Payment Setup
Your first mortgage payment typically comes out within a month of closing. Confirm with your lender exactly when the first payment is scheduled, which account it will withdraw from, and that your banking details are correct. Do not assume it is set up automatically.
4
RRSP Home Buyers' Plan: Know Your Repayment Schedule
If you withdrew from your RRSP under the Home Buyers' Plan, repayments begin in the second year after the year of your withdrawal. You must repay at least one-fifteenth of the total each year for 15 years. Repayments are made as RRSP contributions designated on Schedule 7 of your tax return. Any missed repayment is added to your taxable income for that year.
5
First Home Savings Account: Confirm the FHSA Was Applied
If you used an FHSA toward your purchase, confirm with your financial institution that the withdrawal was processed as a qualifying first home purchase. Keep your documentation. The FHSA must be closed by December 31 of the year following the year of your first qualifying withdrawal.
On Property Tax Timing
Your first property tax bill as a new owner may arrive later than expected. The City of Toronto updates ownership records after closing, and there can be a lag. You are still responsible for any amounts owing from your closing date forward. If you are unsure what you owe, contact the City directly or check your account online.
05
Common Questions
FAQ: Closing Day and Moving In
What time will I get my keys on closing day?
Key release depends on when your lawyer confirms that all funds have been received and title has been registered. This typically happens in the afternoon, often between 2pm and 5pm. It is rarely a morning event. Plan your movers and any help accordingly, and do not book an early morning move-in without confirming the timing with your lawyer first.
Do I need to change my locks when I move in?
Yes. You have no way of knowing how many copies of the keys exist or who has them. Previous owners may have given keys to cleaners, contractors, property managers, or neighbours. Rekeying your locks is inexpensive (typically $100 to $200 for a locksmith visit) and should be done on day one. If you are buying a resale condo, also contact building management to update your fob access record.
When will I receive my first property tax bill from the City of Toronto?
The City of Toronto issues property tax bills in January and June. If you close mid-year, your bill may arrive later than expected, but you are still responsible for the full amount owing from your closing date forward. Register at toronto.ca/taxes to view your account and set up pre-authorized payments rather than waiting for a paper bill.
I used the RRSP Home Buyers' Plan to fund my down payment. What do I do now?
You have a two-year grace period before repayments begin, starting the second year after the year you made the withdrawal. After that, you must repay at least one-fifteenth of the total amount each year over 15 years. Repayments are made by contributing to your RRSP and designating the contribution as an HBP repayment on Schedule 7 of your tax return. If you miss a repayment in any year, that amount is added to your taxable income.
What is a final walkthrough and should I do one before closing?
A final walkthrough is a visit to the property, typically the day before or the morning of closing, to confirm the home is in the same condition as when you made your offer. You are checking that agreed inclusions are present, no new damage has occurred, and the property is vacant and broom-swept. It is not a renegotiation opportunity, but if something is seriously wrong your lawyer can flag it before funds are released. Yes, always do a final walkthrough.
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