Home Buying Timeline: Month by Month in Ontario

A mortgage pre-approval tells you how much a lender will likely lend and locks a rate for a set window. It makes your offers stronger because sellers know your financing is real. Have your income documents, savings statements, and a sense of your debts ready. For a fuller walkthrough of the early steps, see our guide to buying your first home in Ontario.

Three to four months out: choose your agent and start viewing

Now you turn budget into a search.

Pick your agent

Your agent shapes the whole experience, so choose carefully. At Zown, agents are salaried rather than commission-driven, so the advice you get is about the right home for you, not a bigger paycheque. A good agent sets up your search, explains local pricing, and guides you through offers and closing.

Research neighbourhoods and tour homes

Start narrowing where you want to live: commute, schools, transit, price range, and how a place feels on a weekday versus a weekend. Then book viewings. Seeing homes in person quickly teaches you what your budget actually buys in each area, and what you are willing to trade off.

The offer stage: make offers, negotiate, and go firm

When you find the one, things speed up. In Ontario you make an offer using the Agreement of Purchase and Sale (OREA Form 100). Your agent helps you set a price, deposit, closing date, and any conditions.

The deposit is typically around 5%, paid by certified cheque or bank draft, held in trust, and credited to your down payment at closing. The seller may accept, reject, or counter. You go back and forth until you agree or walk away. When all conditions are met (or you make a firm offer with none), the deal is "firm." For the full mechanics, read how to make an offer in Ontario.

After acceptance: conditions, lawyer, mortgage, and insurance

An accepted offer is not the finish line. You usually have a short window (often one to two weeks) to satisfy conditions before the deal is firm.

• Financing: Turn your pre-approval into a final mortgage approval on this specific home. The lender will often order an appraisal.
• Home inspection: If you made your offer conditional on one, book it early in the window.
• Lawyer: Hire a real estate lawyer to review the paperwork, search title, and handle closing funds.
• Insurance: Arrange home insurance to be active on closing day; your lender will require proof.

This is also when the first-time buyer land transfer tax rebate matters: up to $4,000 in Ontario, plus up to $4,475 on the City of Toronto municipal tax, for up to $8,475 in Toronto.

Closing: final walkthrough and keys

In the final days you do a walkthrough to confirm the home is in the condition you agreed to. Your lawyer coordinates the money and registers the transfer, and on closing day you get the keys.

Closing costs are real and often underestimated: land transfer tax, legal fees, title insurance, and adjustments. This is where Zown's Down Payment Boost helps. It is cash back of up to 1.25% of the purchase price (maximum $25,000), paid into your savings at closing, and most buyers use it toward closing costs and post-closing expenses like furniture. On an $800,000 home that is about $10,000. Our Ontario closing process guide covers this final stretch in detail.

See what your Down Payment Boost adds up to →

Reviewed by Arjun Dhawan, Head of Account Management and REALTOR® at Zown Realty Inc. Last updated July 16, 2026. General information, not legal or financial advice.