Helpful advice for First Time Home Buyers

If you are buying a home for the first time in Ontario, you're probably more than a little nervous. Don't be; thousands have done it and survived. You can too!!

The process is as simple as 1,2,3. First, find a house in your price range. Second, sign an offer that protects you and that is acceptable to the vendor. Third, close the purchase and move in.

We recommend that you get informed about the process and surround yourself with a good team who can deal with all of the issues and problems that may arise in the case of finding and buying the right home for you. In other words:

  • Get informed. Canada Mortgage and Housing Corporation (CMHC) has a great workbook for new home buyers called Homebuying Step by Step: Everything you need to buy a home in Canada, which is highly recommended.
  • Get a good Real Estate Agent who will take the pain out of finding the right house in the right location at the right price for you. Make sure you know who the agent is working for (you, the seller, or both).
  • Get a good Mortgage Broker who will "shop" your financial information to get you the best mortgage with the best rate, without any cost to you. They can pre-qualify you for a mortgage so you will know how much you can afford.
  • Get a good Home Inspector who will inspect the home you wish to buy and provide you with a report of any defects, difficulties or problems. Understand that most home inspectors do not provide any opinion about things they
  • Get a good Lawyer who will "quarterback" your purchase and coordinate you and your team to a smooth closing. He or she will also provide you with assurance of good title (by way of his/her opinion or title insurance) If asked, the lawyer will review or prepare offers to purchase and will ensure that clauses designed to protect you are included (such as conditions for financing, home inspection, etc.).

Things to watch out for

Home buyers in Ontario should be aware of the following:

  • "Buyers Beware" is still the law in Ontario, with certain expectation, so be sure to check the home you are planning to buy very carefully. Also insist on the Vendor delivering a completed and signed Vendor Disclosure Statement before your offer to buy. In other words, be sure to do your due diligence investigations.
  • Land Transfer Tax ("LTT") is payable by the buyer on registration of the transfer. LTT is a percentage of the purchase price for the home: One-half of a percent on the first $55,000, one percent thereafter to $250,000 and 1.5 percent thereafter, and an additional tax of one half of a percent for lands value at more than $400,000 if it contains one or two single family residents.
  • In Ontario, agreements respecting land must be in writing, signed and witnessed to be enforceable. Be sure the written offer includes terms, conditions and warranties respecting everything that is important to you.
  • Fixtures and Chattels. Fixtures are attached to the lands; chattels are not, but there is confusing case law on the issue, so "when in doubt, spell it out" in the contract. For example, a dishwasher may appear to be a fixture, but it may not be, so stipulate in the Agreement that it is a fixture that is included in the purchase.


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Photo of Precious Eyesan

Precious Eyesan
  May 12, 2023

We enjoyed our house buying experience with Kimberley. She was very knowledgeable and professional, at the same time friendly, patient, full of humor and made us feel well taken care of. We would absolutely work with her again.

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kathie decoste
  May 10, 2023

Kimberly was super. Great communication and follow up. Would recommend her to everyone.

Photo of Barb Skanes

Barb Skanes
  April 26, 2023

Lori and her team came highly recommended and after listing and selling our aging parents home, I can understand why. When we met with Lori, she was friendly, approachable and professional. She had an excellent handle on the market and area. What complicated the sale for us is, we don't live in the area. Lori made sure the final details before listing were looked after. She brought in cleaners to give the house a thorough cleaning and freshening up. Lori and her team, Morgan and Laurie, kept us informed every step of the way. They were in constant communication making sure we knew what was happening. It was a very quick sale and couldn't be happier with the results. After our interactions with the team, we would also highly recommend them.

Photo of Craig McL

Craig McL
  April 22, 2023

Lori and Kim have helped us on numerous real estate transactions and we have always been thrilled with their level of service and professionalism. Selling or buying, we highly recommend the VanDinther team.

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