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10 Smart Things to Do Now If You Want to Buy a Home in Toronto (or the GTA) by 2026

By Sushil Mishra - RE/MAX West Realty Inc. | Catch The Key Real Estate Team

Author

Catch The Key Inc REMAX
November 04, 2025

a panoramic view of downtown toronto at sunset

Quick Summary: If you want to buy a home in the GTA by 2026, start now: get a mortgage pre-approval, boost your credit score, build your down payment, research neighbourhoods, and connect with a local real estate team. Doing these early gives you a stronger budget, faster decisions, and better odds in competition.

What you’ll learn

  • The 10 highest‑impact steps to take now for a 2026 purchase

  • GTA‑specific costs (like Ontario and Toronto land transfer taxes)

  • Where value may emerge around transit projects

  • A simple 12‑month action plan, plus FAQs

Before you dive in, explore our real client stories on our testimonials page, grab your complimentary GTA market report, and tune into our podcast for on‑the‑go insights.

1) Talk to a local Realtor you trust

A quick strategy session sets your budget, neighbourhood focus, and timeline. We’ll map your must‑haves to realistic inventory and show you how to spot value early. Low‑pressure chat? Send us a message and we’ll build a plan you can follow step‑by‑step.

“Smart homebuyers start early.” - Max, our Chief Entertainment Officer 🐾

2) Get familiar with GTA market trends

Know the direction of prices, inventory, and days on market. The GTA is dynamic: condos, towns, and detached move differently across Toronto, Peel, York, Durham, and Halton. Watching weekly sale activity will help you recognize a good opportunity the moment it appears.

Pro tip: Keep a simple spreadsheet of 10–15 live listings you like (list price, DOM, sold price if available). Patterns emerge quickly.

3) Strengthen your credit health

A better score can shave thousands off your interest over time. Pay down revolving balances, avoid new credit lines, and review your report for errors. Even a +20‑point bump can improve your mortgage options.

4) Build (or boost) your down payment

Target a savings plan that moves automatically every paycheque into a high‑interest account. If you’re a first‑time buyer, look at programs like the federal First‑Time Home Buyer incentives and RRSP/TFSA strategies. The aim is predictable progress over 6–12 months, not perfection overnight.

5) Avoid big financial changes pre‑purchase

New car loan? Big furniture buy? Try to hold off. Sudden credit changes can alter your debt ratios and loan approval. Keep things steady until after you close.

6) Get pre‑approved early (and refresh it)

A pre‑approval clarifies your budget and can lock a rate for 90–120 days. It also strengthens your offers. Refresh it if your search extends so you always know your real buying power.

7) Separate must‑haves from nice‑to‑haves

Backyard for the kids (or Max 🐾)? Main‑floor bedroom? Commute time under 45 minutes? Write your non‑negotiables now. When a strong listing hits, you’ll act decisively.

8) Scout neighbourhoods before prices surge

Transit and amenities lift values over time. Keep an eye on corridors influenced by the Ontario Line, Eglinton Crosstown, Hurontario LRT, and GO expansions. Outside the city core, towns near improving transit often offer better entry prices with solid long‑term upside.

Want a short‑list tailored to your budget? Browse our current listings or ask us for a custom map.

9) Budget beyond the purchase price

Toronto buyers may pay two land transfer taxes: the provincial Ontario LTT and the City of Toronto MLTT. On a $900,000 purchase, that can be roughly $29,000 combined (estimate). Also plan for: legal, inspection, appraisal, title insurance, moving, and early home setup.

Bookmark:

10) Keep learning — and stay patient

Markets move. Policies change. With a clear plan and the right team, patience pays. New listings pop up daily — the prepared buyer wins.

GTA Market Snapshot (late 2025)

“Toronto’s housing market remains one of Canada’s most resilient. The buyers who succeed are the ones who start planning 12–18 months in advance.” — TRREB

  • Average days on market: ~21

  • Condo benchmark (citywide): ~$700k–$750k range

  • Detached homes in Peel: ~$1.19M average

  • Typical 5‑year fixed mortgage: mid‑5% range

(Directional figures; ask us for the latest monthly data.)

A simple 12‑month plan to be offer‑ready in 2026

Month 1–2

  • Strategy call with our team

  • Pull your credit, list debts, set savings automation

  • Start a “watchlist” of 10–15 active listings

Month 3–4

  • Mortgage pre‑approval

  • Weekend neighbourhood tours (schools, commute, parks)

  • Tighten must‑have list

Month 5–6

  • Meet your lawyer; understand closing costs

  • Price out insurance, utilities, and property tax estimates

  • Review condo status certificate basics (if condo hunting)

Month 7–9

  • Refresh pre‑approval

  • Tour 1–2 homes weekly

  • Track sold data in your spreadsheet

Month 10–12

  • Re‑check budget + rates

  • Begin making offers on the best‑fit homes

  • Plan moving timeline and early upgrades

FAQs

What’s the fastest way to get ready to buy in 2026?
Start with an affordability check, credit review, and a chat with a local Realtor + mortgage pro. With pre‑approval and a clear must‑have list, you can act quickly.

How much do I need for a down payment in Toronto?
Up to $500k purchase: 5%. The portion from $500k to $999,999: 10% (on that portion). At $1M or more: typically 20%down.

What closing costs should I expect in Toronto?
Plan 3–4% of purchase price: provincial + municipal land transfer taxes (if buying in the city), legal, title insurance, inspection, appraisal, moving.

Should I get pre‑approved now or wait?
Get pre‑approved early (rate holds ~90–120 days) and refresh as needed. You’ll always know your real buying power.

Which GTA neighbourhoods may offer better value in 2026?
Areas near new or improving transit often see durable demand. Ask us for a shortlist matched to your budget.

Let’s plan your 2026 purchase together

The Key Exchange

Podcast · Catch The Key Inc. REMAX · Real stories. Real market talk. Real Estate Hosted by Sushil Mishra and Himani Sood of Catch The Key Inc. | RE/MAX West Realty, The Key Exchange dives into the conversations that shape Ontario’s real estate scene- from active listings and local market shifts to buyer strategies, seller psychology, and everything in between. Every week, we share field experiences, client stories, and straight talk about what’s actually happening across the GTA and beyond. Whether you’re buying, selling, or just keeping an eye on the market, you’ll walk away a little smarter every time.

open.spotify.com/show/005g1WieCVw1QpoYKA6r9X?si=bTx4GaVJQ8WzfVype8TNtg

About the author

Sushil Mishra, Broker — RE/MAX West Realty Inc., leads the Catch The Key Real Estate Team with a calm, client‑first approach and GTA‑wide perspective. From first‑time buyers to seasoned investors, Sushil makes the process simple, data‑driven, and surprisingly fun (with occasional cameos from Max 🐾).

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