10 Tips For Home Buying in the GTA

Even for experienced buyers, purchasing a home in the Greater Toronto Area can feel overwhelming. Although an exciting process, finding the right home, entering negotiations, and closing the deal means dealing with a ton of logistics and variables along the way. 

The good news is that the buying process doesn’t need to be stressful. We’ve developed a fool-proof system that removes the fears and anxieties that come with buying a home in Toronto’s competitive market.

Backed by our years of Toronto industry experience, here are 10 tips to ensure your home-buying process is simplified and straightforward.

01 |  Create a "Wants & Needs' List

Take a moment to write down everything you need in a new home, along with the things that are nice-to-have (AKA ‘wants’). By putting pen to paper and being specific about what you’re looking for, you’ll have an easier time finding the perfect place. Here are some things to consider:

  • Location, location, location! (Think of your favourite neighbourhoods, access to amenities and transit, etc.)

  • Property layout. (Open floor plan or closed?)

  • The number of bedrooms and bathrooms.

  • Outdoor/yard space.

02 |  Listing Agent vs Buying Agent

While it may seem convenient to hire the listing agent as your buying agent, you have to remember they are working for the benefit of the seller. When you have a dedicated buyers agent, their responsibility is to protect your interests. A buyer’s agent will

  • Educate you about the market.

  • Help you put together a competitive offer.

  • Hold the seller and listing agent accountable to the clauses in the contract.

  • Negotiate the best deal on your behalf.

03 |  Get a Mortgage-Approval

It’s exciting to get out there and start house-hunting, but without a pre-approved mortgage, you could be wasting a lot of time. With a pre-approval, you’ll know exactly what you can afford, and you’ll appear as a serious buyer to sellers. This means you won’t waste time looking at houses outside your budget, and your offer will have a greater chance of getting accepted.

  • Connect with a mortgage specialist to get pre-approved. We can recommend one to you!

04 |  Get Access to Current Market Information

To plan a proper buying strategy, you need to know how the market is moving. When you work with an experienced agent, they’ll explain current conditions and trends so you can create an effective plan of action.

05 |  Get Market Experience

By this, we mean to explore the market and view plenty of homes with your agent. When you go to lots of showings, you’ll get a better idea of what kind of homes are actually available. You’ll also get a practical understanding of how the process works. When viewing potential properties with your realtor, they’ll be able to point things out to you about the places you see to help you become an educated buyer.

06 |  Make an Educated Offer

After learning about the market and getting a practical education, you and your realtor will be able to craft a competitive offer that you’re comfortable with to secure the home you want. The mortgage pre-approval that you already received means that your offer will stand out and that you’ll be prepared to close the deal ASAP once the offer is accepted.

07 |  Home Inspections

After you make an offer, you need to have a home inspection. This will ensure that the home you’re buying is up to the standard you want, and agreed upon with the seller. Your buying agent can include an inspection clause in your offer to protect your purchase. They’ll also be able to refer you to a trustworthy home inspector.

08 |  Selecting a Lawyer

Finding knowledgeable and honest industry professionals will make your home-buying process that much easier. Working with an experienced agent means getting access to their professional network, including a reputable real estate lawyer to facilitate the closing process. When choosing an agent to work with, be sure to inquire about their contacts.

09 |  Perform the Final Inspection

It’s absolutely necessary to complete a final inspection of the property to be sure nothing has changed, and everything about the home is as it should be. Go to the inspection with your realtor, so that if there are any issues, they can point them out to you so you can see it for yourself. It will also give you peace of mind to see that everything is in order. 

10 |  Move in!

When it’s time to take possession of your new home (yay!), your agent will be able to recommend professionals, including cleaners and movers, to help with the big day. Referring to your agent’s network ensures you have a positive experience and a seamless transition into your new space. Congratulations!


View Our Buyer Experience

Whatever your homeownership ambitions are, we’re here to listen. Buying a home is all about you, and while we’ll be here to offer our sage advice along the way, we won’t stop until we find your perfect match.

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