How is the current real estate market in Ontario?
Ontario’s market changes by region, property type, and price range. In general, the GTA often experiences higher demand, while smaller cities and rural areas may see steadier, balanced conditions. Your agent can provide hyper-local data based on neighbourhood trends and recent sales.
Why should I work with a licensed real estate agent in Ontario?
Licensed REALTORS® in Ontario are regulated by RECO (Real Estate Council of Ontario) and must follow strict ethical, disclosure, and consumer-protection rules. Working with a REALTOR® ensures your interests are legally protected throughout the buying or selling process.
When should I book movers for my closing day?
It’s best to book movers at least 2–3 weeks in advance, especially during busy seasons (spring and summer).
To avoid delays, schedule your movers later in the afternoon, after your lawyer confirms that the property has officially closed and the keys are released.
Do I need a real estate agent to buy a home in Ontario?
Working with a licensed REALTOR® is not legally required, but it is strongly recommended. Agents registered with RECO (Real Estate Council of Ontario) must follow strict ethical and disclosure rules, ensuring your interests are protected.
How much down payment do I need in Ontario?
According to federal rules:
- 5% on the first $500,000
- 10% on the portion from $500,000 to $999,999
- 20%+ on homes $1M+
A minimum 20% is also required to avoid CMHC mortgage insurance.
What is the difference between a REALTOR® and a real estate agent?
All REALTORS® are licensed agents, but not all agents are REALTORS®.
A REALTOR® is a member of CREA (Canadian Real Estate Association) and must follow the REALTOR® Code of Ethics, offering a higher standard of professionalism.
What types of commercial leases are common in Ontario?
Commercial properties typically use:
- Net Lease (N): Tenant pays base rent + one additional cost (e.g., property tax).
- Double Net (NN): Tenant pays taxes + insurance + base rent.
- Triple Net (NNN): Tenant pays taxes, insurance, maintenance (common for retail/industrial).
- Gross Lease: Landlord covers most operating costs; tenant pays one flat rate.
NNN leases are the most common for retail plazas and office buildings.
How do I transfer utilities into my name?
Once you have a firm closing date, contact your utility providers (electricity, gas, water, internet) 5–10 days before closing.
Provide your name, service address, and activation date.
Most Ontario municipalities allow water account transfers online.
