Ontario is Canada’s most populous province and its most active real estate market. From the sky-high prices of the Greater Toronto Area to the more affordable communities of Northern and Eastern Ontario, the province offers a wide range of housing options — and an equally wide range of costs.
This guide covers everything you need to know about buying a house in Ontario in 2026.
Ontario housing market overview
| Region | Average Home Price | Market Condition |
|---|---|---|
| Greater Toronto Area | $1,050,000–$1,150,000 | Balanced to buyer’s market |
| Ottawa | $640,000–$700,000 | Balanced |
| Hamilton-Burlington | $750,000–$850,000 | Balanced |
| London-St. Thomas | $550,000–$620,000 | Balanced |
| Waterloo Region | $700,000–$780,000 | Balanced |
| Niagara Region | $550,000–$630,000 | Balanced |
| Barrie & Simcoe County | $650,000–$750,000 | Balanced |
| Kingston | $550,000–$620,000 | Balanced |
| Thunder Bay / Northern Ontario | $300,000–$400,000 | Seller’s market |
| Windsor-Essex | $480,000–$550,000 | Balanced |
Ontario’s market softened from its 2022 peaks but remains one of the most expensive in Canada. The GTA continues to dominate pricing, while smaller cities offer significantly better value.
→ Ontario Housing Market Report → Toronto Housing Market → Ottawa Housing Market
Closing costs in Ontario
Ontario has some of the highest closing costs in Canada due to the land transfer tax. Budget 2–4% of the purchase price.
Land transfer tax
| Purchase Price Portion | Tax Rate |
|---|---|
| First $55,000 | 0.5% |
| $55,001–$250,000 | 1.0% |
| $250,001–$400,000 | 1.5% |
| $400,001–$2,000,000 | 2.0% |
| Over $2,000,000 | 2.5% |
Example: On a $700,000 home, the provincial LTT is $11,475.
First-time buyer rebate: Up to $4,000, eliminating tax on homes up to $368,000.
Toronto municipal land transfer tax
If buying in the City of Toronto, you pay a second land transfer tax at similar rates. First-time buyers get a rebate of up to $4,475.
Example: On a $700,000 Toronto home, combined provincial + municipal LTT totals roughly $20,950. After first-time buyer rebates ($4,000 + $4,475), you still owe $12,475.
→ Land Transfer Tax Calculator — Calculate your exact LTT → Closing Costs Calculator — Full closing cost estimate
Other closing costs
| Cost | Typical Amount |
|---|---|
| Legal fees | $1,500–$2,500 |
| Title insurance | $200–$400 |
| Home inspection | $300–$600 |
| Appraisal (if required) | $300–$500 |
| Property tax adjustment | Variable |
| Moving costs | $1,000–$3,000 |
First-time buyer programs in Ontario
Ontario first-time buyers have access to both federal and provincial programs:
Provincial programs
| Program | Benefit |
|---|---|
| Ontario LTT rebate | Up to $4,000 |
| Toronto MLTT rebate | Up to $4,475 |
| Ontario Energy and Property Tax Credit | Up to $1,194/year |
Federal programs
| Program | Benefit |
|---|---|
| FHSA | Tax-deductible savings up to $40,000 |
| Home Buyers’ Plan | $60,000 RRSP withdrawal per person |
| First-Time Home Buyers’ Tax Credit | $1,500 tax savings |
| GST/HST New Housing Rebate | Up to $6,300 (new builds) |
→ First-Time Home Buyer Ontario — Detailed provincial program guide → First-Time Home Buyer Guide — Complete federal programs overview
Step-by-step home buying process in Ontario
1. Assess your finances
- Check your mortgage affordability
- Review your debt service ratios (GDS under 39%, TDS under 44%)
- Confirm you pass the stress test
- Open an FHSA if you have not already
2. Get pre-approved
- Contact 3–5 lenders or a mortgage broker
- Pre-approval locks in your rate for 90–120 days
- Compare offers using the mortgage comparison worksheet
3. Find a real estate agent
- Buyer’s agents are typically free (commission paid by seller)
- Choose an agent who knows your target area well
- Agents can access MLS listings and arrange showings
4. Search for a home
- Set alerts on Realtor.ca for your criteria
- Research neighbourhoods, school districts, commute times
- Attend open houses and schedule private showings
5. Make an offer
- Work with your agent to determine a fair offer price
- Include standard conditions: financing, home inspection, title search
- Provide a deposit (typically 5% of offer price, held in trust)
- In competitive markets, you may face multiple offers
6. Conditions period (typically 5–10 business days)
- Financing condition: Finalize your mortgage approval
- Inspection condition: Hire a licensed home inspector ($300–$600)
- Title search: Your lawyer reviews the property title
- Waive conditions once satisfied — the deal becomes firm
7. Close the deal
- Your lawyer prepares closing documents
- Arrange home insurance (required before closing)
- Wire closing funds to your lawyer 1–2 days before closing
- Receive keys on closing day
- Register the property title in your name
Ontario-specific considerations
Property types
| Type | Pros | Cons |
|---|---|---|
| Detached house | No shared walls, private yard, full control | Most expensive, highest maintenance |
| Semi-detached | Lower price than detached, still has yard | Shared wall, less privacy |
| Townhouse (freehold) | Affordable, low maintenance exterior | Less space, shared walls |
| Townhouse (condo) | Amenities included, lowest maintenance | Monthly condo fees, rules/restrictions |
| Condo apartment | Most affordable entry, urban location | Condo fees, special assessments, less space |
Condo buying in Ontario
Condos are the most common entry point in the GTA. Key Ontario-specific considerations:
- Status certificate: Always request and have your lawyer review the condo’s status certificate ($100 fee). It reveals the reserve fund health, upcoming special assessments, lawsuits, and financial condition
- 10-day cooling-off period: Ontario provides a 10-day rescission period for new condo purchases (resale condos do not have this)
- Condo fees: Average $600–$900/month in Toronto; rising 3–5% annually
→ Buying a Condo in Canada → Condo Fees Explained
Rent control
Ontario’s rent control applies to units first occupied before November 15, 2018. If you are currently renting a controlled unit at below-market rates, factor this into your buy-vs-rent calculation — your rent savings may outweigh the benefits of buying in the short term.
→ Rent vs Buy in Toronto → Rent vs Buy in Ottawa
Where to buy in Ontario
Best value: Northern Ontario (Thunder Bay, Sudbury, Sault Ste. Marie) and Eastern Ontario (Cornwall, Brockville, Belleville) offer homes under $400,000.
Growth markets: Hamilton, London, Kitchener-Waterloo, and Barrie have seen strong growth and offer better value than the GTA while remaining within commuting distance.
Premium markets: Toronto, Oakville, Mississauga, and parts of York Region command the highest prices but also have the strongest long-term appreciation.
Mortgage rates in Ontario
Compare current mortgage rates from Ontario lenders:
Related resources
- How Much House Can I Afford? — Budget calculator
- Income Needed to Buy in Ontario — Salary requirements by city
- Mortgage Calculator — Monthly payment estimates
- Down Payment Calculator — Minimum down payment by price
- Housing Affordability in Canada — National affordability data
- Mortgage Document Checklist — What you need for your application