My free 36-page Buyer's Guide walks you through the whole process — setting your budget, down payments, mortgage pre-approval, offers, conditions, inspections, and closing day — so you go in prepared, not guessing.
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This free 36-page Buyer's Guide walks Ontario home and cottage buyers through the full purchase process — setting a budget, down payment requirements, mortgage pre-approval, setting up a home search, making an offer, deposits and conditions, home inspections, financing, the final walk-through, and closing day — written by Kimberly Schroeder, REALTOR® with eXp Realty, Brokerage, serving Orillia, Barrie, Oro-Medonte, Severn, Midland, and the Muskoka region.
I'm Kimberly Schroeder, a REALTOR® with eXp Realty, Brokerage, based in Orillia and serving Simcoe County and Muskoka. Before real estate, I spent 25+ years in senior corporate roles negotiating complex agreements — and I bring that same preparation and rigour to every purchase my clients make.
Kimberly Schroeder, REALTOR® — eXp Realty, Brokerage
The guide follows the same path you will: from the first budgeting conversation to the day you get the keys.
How to set a realistic budget, Canada's minimum down payment thresholds (including when mortgage default insurance applies), and what cash you actually need.
Getting pre-approved, what lenders look at, and the financing do's-and-don'ts between pre-approval and closing that can protect your mortgage.
Setting up an effective search, what to look for at showings, and how to compare properties beyond the listing photos.
How offers work in Ontario, what the deposit is and when it's due, and how conditions like financing and inspection protect you.
What a home inspection covers, how to read the results, and how findings feed into your decision.
The final walk-through, what happens with lawyers and lenders behind the scenes, and exactly what to expect on closing day.
In Canada, the minimum down payment is 5% on the first $500,000 of the purchase price and 10% on the portion between $500,000 and $1.5 million. Homes priced above $1.5 million require at least 20% down. If you put down less than 20%, you'll also pay for mortgage default insurance (often called CMHC insurance). The guide walks through these thresholds with real examples.
Beyond the purchase price, Ontario buyers typically budget for land transfer tax, legal fees, title insurance, a home inspection, moving costs, and closing adjustments for items like prepaid property taxes or utilities. Many buyers set aside roughly 1.5% to 4% of the purchase price for closing costs, depending on the property and price point.
It's not required to view homes, but it's strongly recommended before you start seriously searching. A pre-approval confirms your realistic budget, can hold an interest rate for a set period, and shows sellers your offer is credible — which matters in competitive situations.
The deposit is money you put forward when your offer is accepted, showing the seller you're serious. In Ontario it's commonly delivered within 24 hours of acceptance unless the offer says otherwise, and it's typically held in trust by the listing brokerage until closing, when it counts toward your purchase.
Get the guide above, or skip straight to a conversation — a call doesn't commit you to anything, it just means better information when you need it.
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