Understanding the buying process
Learn how to secure pre-approval, find the right neighbourhood, and make a competitive offer in the Canadian market.
Homebuyer Support Hub | PropertyBin
Preparing your home for sale
Discover staging tips, minor repairs that yield high returns, and how to price your home correctly.
Step-by-Step Buying Guide
- 1 Calculate affordability & get pre-approved for a mortgage.
- 2 Set up Saved Searches for your target neighbourhoods to get instant alerts.
- 3 Tour properties and review comparables with your agent.
- 4 Make a conditional or firm offer and prepare your deposit.
Frequently Asked Questions
How much down payment do I need?
In Canada, the minimum is 5% for the first $500k, and 10% for the portion above $500k (up to $999,999). Properties over $1M require 20%.
What are closing costs?
Closing costs typically range from 1.5% to 4% of the purchase price and include land transfer tax, legal fees, title insurance, and potential adjustments.
What is the First-Time Home Buyer Incentive?
It is a shared-equity mortgage with the Government of Canada, which offers 5% or 10% for a first-time buyer's down payment to lower your mortgage carrying costs.
Pro Tip:
Always get pre-approved before house hunting to understand your budget and show sellers you are serious. In multiple-offer situations, a firm pre-approval is a strong asset.
Actionable Example:
Use our mortgage calculator to determine your exact monthly payments before viewing a property.