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In Ontario, it is usually the seller/landlord who pays the commissions. When the sale/lease of the property closes and the seller/landlord receives the money, the total commission amount is taken off of the sale/lease price and held by the listing brokerage. The portion of this that is owed to the buyer’s/tenant's agent is paid out, and then the seller’s/landlord's agent receives their cut from their brokerage (the listing brokerage). This means that the seller/landlord is technically the one who is paying the commissions to both agents. *The average commission for a sale is 5% of the sale price, and the average commission for a lease is the first month's rent.*

When you find the property you like, click the book now button at the bottom of the listing, fill out your information; and one of our licensed agents will reach out to you to set up an appointment to view the unit(s) you are interested in. All in-person showings require appointments to be made at least 24 hours in advance. The agent will work with you to schedule a convenient time for both parties, and will provide all the necessary information about the property in advance of the appointment.

We're here to help! If you need assistance with your property search journey, please fill out the contact form on our website with your contact information, and search criteria. One of our licensed agents will reach out to you, and send you properties that match your search criteria. Any of the properties that are of interest to you, can be booked for viewing.

When applying for a rental you must have an Employment Letter/Proof of Employment, Proof of income (paystubs, notice of assessment if self employed), a Credit Score of 680 or more, and two references. There is also a 3x income rule; ex. if you are applying for a $2000/month rental, you must have a personal or combined household income of $6000/month (gross not net) or more.

Maintaining a credit score over 680 and having a stable income will make it much easier to secure a mortgage.

Saving for a down payment:
Under $500,000 you will need 5% of purchase price
$500,000-$999,999 you will need 5% of the first $500,000, then 10% of the remainder
$1,000,000 and up you will need 20% of the purchase price

Housing affordability depends on a number of factors, including:
-How large your down payment is
-Your Total Debt Service (TDS) Ratio, which is your annual housing related expenses + debt expenses, divided by your gross income.
-Your Gross Debt Service (GDS) Ratio, which is your annual housing related expenses, divided by
your gross income, and
-Current monthly expenses not exceeding after-tax income

Estimating the closing costs:
Generally, a good estimate of how much to budget for closing costs when buying a house in Ontario tends to be between 3-5% of the purchase price. The two largest components of closing costs include Land Transfer Tax, and Lawyer & Legal Fees.

Get a Mortgage Pre-approval & Look for the Best Rate:
Getting a mortgage pre-approval before looking for a home provides the stability of locking in an interest rate for up to 120 days, while providing an estimate on how much of a mortgage you qualify for. A pre-approval acts as a written contract between you and your lender. However, getting pre-approved does not mean you cannot continue to shop around for other rates.

Find a good Real Estate Agent:
Connecting with a real estate agent that fits your needs and has a strong understanding of the market you're looking in is crucial. Especially for first-time buyers, having an experienced agent can provide much needed clarity in a brand new situation.