Housing - Buying

Buying a house or apartment

The easiest way to buy a new home is to contact a real estate agent, who you can find in the yellow pages of your telephone book. You can ask people in your community to recommend a real estate agent.

You can also find out which homes are for sale in the area where want to live by walking through the neighbourhood and finding For Sale signs in front of houses. There are many Internet sites that advertise homes for sale.

Some people sell their homes without a real estate agent. These sales are often listed in the classified advertising section of your local newspaper.

Immigrant-serving organizations may be able to help you find more information about buying a home in your community.

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Houses can be expensive

When buying a house, there are many hidden costs. These may include one-time costs such as the real estate agent’s fee, lawyer or notary’s fees and other costs associated with buying a home.

Annual property tax, house insurance, registration fees, various homebuyer taxes and maintenance are ongoing costs, as are costs for heat, hydro, water and sewer services.

Make sure you know exactly what your costs will be before you buy a home.

Financial help for buying a home

In Canada, there are options available to help you buy a home.

Mortgage loan insurance programs can help you buy a home if you have less than the 20 percent down payment required by most banks. This type of loan insurance protects lenders and helps people to buy a home with as little as a five percent down payment. For more information about mortgage loan insurance, visit the Canada Mortgage and Housing Corporation website.

Depending on how long you have lived in Canada when you decide to buy a home, you may also be able to borrow from savings you have put into a Registered Retirement Savings Plan (RRSP) and use that money as a down payment. This is called the Home Buyers’ Plan (HBP). For more information on the HBP, visit the Canada Revenue Agency website.

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Living in Canada tool

Living in Canada

Housing video

  • This video offers information about:

    • Renting a home or a room
    • Lease agreements
    • Rights and Responsibilities
    • Getting phone, television and mail service

    To watch the video, select your language and the topic “Housing”