Buyer's Guide

A step-by-step guide for homebuyers in the GTA

Buying a home in the Greater Toronto Area is an exciting milestone—but it can also feel overwhelming. At Sam McDadi Real Estate Brokerage, we believe the process should feel empowering, not stressful. That’s why we created this step-by-step guide for home buyers to help you make informed decisions, plan with confidence, and move forward knowing our team is here to help every step of the way.

Step 1: Start with real estate research

Where do you see yourself living? Do you picture a condo in downtown Toronto, a townhome in Mississauga, or a detached house in Oakville? Which features are non-negotiable, and what could you compromise on? Take this time to explore different neighbourhoods, monitor home prices, and get a sense of what’s available within your preferred areas. This will give you valuable insight into the housing market—and help you feel prepared when it’s time to make your move.

Step 2: Consider your home buying budget

Many tend to ask "What will the bank lend me?", but Team McDadi believes a better question might be "What am I comfortable spending?" Before applying for a mortgage, it’s worth sitting down to map out your full monthly budget. This can help you understand the lifestyle you want to maintain, the costs you’re likely to take on as a homeowner (including utilities, property taxes, or condo fees), and how much you feel confident putting toward a monthly mortgage payment.

Step 3: Get pre-qualified for a mortgage

Meeting with a mortgage advisor early in the process can help you understand what kind of financing you qualify for—and what options are available. A mortgage pre-qualification not only helps guide your home search but can also strengthen your offer when you’re ready to buy. If you have questions about which lenders or mortgage specialists to speak with, we’re happy to connect you.

Step 4: Partner with a trusted real estate agent in the GTA

It doesn’t cost you anything to work with a real estate agent when buying a home in Ontario, but it can save you time, stress, and second-guessing. Our team has helped tens of thousands of families across Mississauga, Toronto, Oakville, Burlington, Brampton, and beyond. We’re here to listen, support, and guide you in finding the right property. Whether you’re buying your first home or your fifth, we tailor our approach to meet your needs and goals.

Step 5: Explore homes and communities

Now comes the fun part: seeing homes in person. As you walk through each space, take notes and ask questions. How does the layout feel? Are there signs of wear or recent upgrades? Is the neighbourhood what you expected? And what’s the commute like? What are the assigned schools? We encourage you to explore beyond the four walls—this is about finding a lifestyle that suits you, not just a house.

Step 6: Make an offer on a home

Once you find a home that feels right, your agent will help you craft a fair and informed offer, taking into account market conditions, comparable listings, and seller expectations. If a counteroffer comes back, we’ll guide you through your options and help you negotiate terms that work for you. Once accepted, your home goes into the conditional or firm sale phase.

Step 7: Book a professional home inspection

Home inspections are a key part of the home buying process and are often included as a condition in your offer. An inspection gives you peace of mind that there are no major surprises and that the home is safe and sound. If any issues do arise, we’ll help you reassess your offer, renegotiate, or walk away if needed.

Step 8: Finalize your mortgage

Now that your offer has been accepted, it’s time to finalize your mortgage. In Canada, you'll typically choose between fixed-rate and variable-rate mortgage options, and terms like 20, 25 or 30-year amortizations. Your mortgage advisor will help explain what works best based on your financial goals, stability, and risk tolerance. Programs like CMHC mortgage insurance can also make homeownership possible with as little as 5% down. First-time homebuyers may also qualify for programs like the First-Time Home Buyer Incentive and land transfer tax rebates, which can make ownership more affordable.

Step 9: Time for a home appraisal

Your mortgage lender will arrange an independent appraisal to confirm the fair market value of the property. This is standard practice and ensures that the home is priced appropriately for the loan being offered.

Step 10: Sign your closing paperwork

From mortgage documents to closing contracts, this is the final step before receiving your keys. Don’t worry—your real estate lawyer and lender will walk you through every signature. Once everything’s finalized and funds are transferred, you’re officially a homeowner. Team McDadi has a large network of trusted real estate lawyers across the GTA and can help you find the right one.

Congratulations on your new home!

This is the moment it all becomes real. Whether it’s your very first home or a stepping stone toward your next, we’re honoured to be part of the journey. Our team is here long after the sale—to answer questions, offer guidance, and celebrate your success.

Active Listings

Home Search

Meet the Team

Let’s get you home in the GTA, for real

Team McDadi doesn’t just help you buy a house—we help you move forward with confidence. With access to exclusive listings, expert agents, the best trades professionals, lawyers, home inspectors, and the most competitive financing options on the market, we’re here to give you every advantage.

Some of the buyer incentives we offer:

Access to All Power of Sales, Distress Sales and Foreclosures
Up to 1% off the posted mortgage rates
Financing options for self-employed buyers, new Canadians, and those with limited credit history
100% financing available (conditions apply)

Mortgages:

Down payments in Canada

Your down payment is the portion you put toward the purchase price of your home. In Canada, the minimum down payment is 5%, but putting down more can reduce your mortgage costs over time. That said, it’s important not to overextend. Protect your cash flow and think long term.

Mortgage insurance from CMHC

If your down payment is under 20%, your lender will require mortgage insurance (usually through CMHC). This protects the lender, but it also helps you enter the market sooner. The smaller your down payment, the higher the insurance premium—but you can still finance up to 95% of your purchase price.

Payment schedules that work for you

You can often choose between monthly, bi-weekly, or weekly mortgage payments. Accelerated bi-weekly payments can help you pay off your loan faster and reduce interest—just ask your lender what fits your budget and income cycle.

Prepayment privileges

Many Canadian mortgages allow you to make lump sum payments or increase your regular payments annually without penalty. These features can save you thousands in interest over time. Ask your lender what prepayment privileges are included in your mortgage agreement.

Fixed vs. variable mortgage rates in Canada

A fixed mortgage gives you peace of mind with predictable payments. A variable rate can offer savings, but it comes with more risk. Your choice depends on your financial goals and comfort with rate changes. A mortgage specialist can help you weigh the pros and cons.
Need a mortgage expert in the GTA? We’re happy to connect you with trusted professionals who can help.