Complete Homebuying Guide

I can't stress this enough: get pre-approved before you start looking. I've seen too many clients fall in love with a home, only to discover they can't afford it—or worse, they can't get financing at all.

The Pre-Approval Process

Here's what you'll need and what happens:

1. 1
   Check your credit: Get a free credit report. In Canada, you need a score of 680+ for most lenders, but 720+ gets you better rates. I've seen clients think they're ready, only to find errors on their credit report that take months to fix.
2. 2
   Gather documents: Pay stubs, T4s, tax returns (2 years), bank statements (3 months), proof of down payment. Have these ready—it speeds everything up.
3. 3
   Meet with a mortgage broker or lender: I always recommend a broker—they shop multiple lenders for you. In the GTA, rates can vary significantly between lenders.
4. 4
   Get your pre-approval letter: This shows sellers you're serious. In competitive markets like Oakville and Burlington, sellers often won't even consider offers without pre-approval.

House hunting can be overwhelming—especially in the GTA where inventory moves fast. Here's how I help my clients stay focused and make smart decisions:

Start with Your Must-Haves vs Nice-to-Haves

Before you look at a single listing, write down:

Use Search Filters Wisely

Our search tool lets you filter by:

• Location: Each GTA city has different vibes. Oakville is family-friendly, Burlington has great waterfront, Mississauga is more urban. Know what fits your lifestyle.
• Price range: Set your max at 10-15% below your pre-approval to leave room for negotiation and closing costs.
• Property type: Houses offer more space, condos offer less maintenance. Townhouses are a middle ground.
• Features: But don't be too restrictive—you might miss great homes that just need a fresh coat of paint.

This is where having an experienced agent really matters. I've negotiated hundreds of deals, and I can tell you: strategy matters more than you think.

Research Comparable Properties First

Before making an offer, we need to know what similar homes sold for recently. I pull "comps" (comparable sales) to determine fair market value:

• •Similar homes sold in the last 3-6 months
• •Same neighborhood or nearby
• •Similar size, age, and condition
• •Adjust for differences (finished basement, updates, etc.)

Understanding Market Conditions

Your Offer Components

An offer isn't just a price. It includes:

• Purchase price: What you're willing to pay
• Deposit: Usually 1-5% of purchase price, held in trust
• Conditions: Home inspection, financing, sale of your current home, etc.
• Closing date: When you take possession (typically 30-60 days)
• Inclusions/exclusions: What stays (appliances, fixtures) and what goes

I've seen clients want to waive inspections to make their offer more competitive. Don't do it. A $500 inspection can save you tens of thousands of dollars.

What Inspectors Check

A thorough inspection covers:

After the Inspection

You'll get a detailed report. Then you have options:

• 1.
  Accept as-is: If issues are minor or expected for the home's age
• 2.
  Request repairs: Ask seller to fix specific issues before closing
• 3.
  Request credit: Seller gives you money at closing to fix issues yourself
• 4.
  Walk away: If issues are too major or seller won't negotiate

You're almost there! The closing process typically takes 30-60 days from accepted offer. Here's what happens:

Closing Checklist

Closing Costs to Budget For

Many first-time buyers are surprised by closing costs. Here's what to expect: