Buying
Step-by-step buying guides for Ontario. First-time buyer incentives, pre-construction risk, offer strategy, closing costs — what you need before you bid.
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Non-Resident Speculation Tax (NRST) at 25% — 2026 Buyer Guide
Ontario's NRST is 25% on residential purchases by foreign nationals, foreign corporations and taxable trustees, anywhere in the province. Toronto adds 10%. Here are the exemptions, the permanent-resident rebate, and how the federal ban fits in.
June 1, 2026Summitly Editorial3 min read
Ontario's NRST is 25% on residential purchases by foreign nationals, foreign corporations and taxable trustees, anywhere in the province. Toronto adds 10%. Here are the exemptions, the permanent-resident rebate, and how the federal ban fits in.
June 1, 2026Summitly Editorial3 min read
Since December 1, 2023, Ontario real estate is governed by TRESA. Buyers get a written representation agreement before they offer, the RECO Information Guide, a clear choice between being a client or self-represented, and new rules on competing offers.
June 1, 2026Summitly Editorial4 min read
CMHC suggests budgeting 1.5% to 4% of the price for closing costs. In Ontario the biggest line is land transfer tax: $24,950 on an $800,000 Toronto home, $12,475 outside Toronto. Here's every item and how to estimate it.
June 1, 2026Summitly Editorial3 min read
In August 2026 the average GTA condo apartment sold for $617,593 and the average detached house for $1,288,669 (TRREB). Here's how to compare the real monthly cost, the condo-specific risks, and what each suits.
June 1, 2026Summitly Editorial3 min read
The minimum is 5% of the first $500,000 and 10% of the rest, up to $1.5 million. Here are five legal ways to build it: FHSA, the Home Buyers' Plan, a documented family gift, equity from a home you own, and a co-borrower.
June 1, 2026Summitly Editorial3 min read
A bridge loan lets you close on your new home before the sale of your current one closes, using the equity in the home you've already sold firm. Here's how it works, what lenders ask for, how to estimate the cost, and the alternatives.
June 1, 2026Summitly Editorial3 min read
Ontario home inspectors are not licensed (the Home Inspection Act, 2017 was never brought into force), so choose carefully. Here are the issues that matter most in older Ontario homes, from knob-and-tube wiring and vermiculite to radon, and what to do about each.
June 1, 2026Summitly Editorial3 min read
How competing offers work in Ontario under TRESA, and how to put together an offer a seller can rely on: price from comparable sales, deposit ready, preparation done before offer night, and conditions you can safely keep.
June 1, 2026Summitly Editorial3 min read
Every new home in Ontario built by a registered builder comes with Tarion's warranty: one year for work and materials, two years for water penetration and key systems, seven years for major structural defects, plus deposit and delay protection. Here's how it works and how to claim.
June 1, 2026Summitly Editorial3 min read
What's different about buying a cottage: financing rules for second homes, the stress test on two mortgages, capital gains and the principal residence exemption, and the checks most city buyers skip — septic, well water, access and shoreline.
June 1, 2026Summitly Editorial3 min read
There's no single best neighbourhood for every family. Here's how to compare Toronto neighbourhoods on the things that matter with young children: school catchments, parks and community centres, transit, home types, and the full cost of buying, with examples to start from.
June 1, 2026Summitly Editorial3 min read
The FHSA ($40,000), the RRSP Home Buyers' Plan ($60,000), land transfer tax refunds of up to $4,000 (plus $4,475 in Toronto), the home buyers' amount, and GST/HST rebates on new homes: what each one is worth in 2026 and how they fit together.
May 31, 2026Summitly Editorial6 min read
What to check before you sign for a pre-construction condo in 2026: the 10-day cooling-off period, how deposits are protected, interim occupancy fees, closing adjustments, the new HST rebates, and assignment rules.
May 31, 2026Summitly Editorial5 min read
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