Hamilton

It depends on the property type. Detached homes and condos are in balanced to buyer-friendly territory, with condo inventory at record highs in Hamilton–Burlington. Townhomes are tighter, with fewer homes available. In a balanced market, accurate pricing and strong marketing matter more than ever. We track this data monthly on our Market Snapshot page.

In today’s market, most move-up buyers are safer selling first or selling and buying at the same time. With more homes for sale, buyers have choices, so carrying two homes can get expensive. Tools like a conditional offer or bridge financing can help you time both moves. We coordinate both sides so you move once.

The minimum is 5% of the first $500,000 and 10% of the portion between $500,000 and $1.5 million. Homes over $1.5 million need 20% down. Under 20%, you’ll need mortgage default insurance. First-time buyers and buyers of new builds can also get a 30-year amortization on an insured mortgage, which lowers monthly payments.

Four programs can stack:

- FHSA: save up to $8,000 a year ($40,000 lifetime), tax-free.
- RRSP Home Buyers’ Plan: withdraw up to $60,000.
- Ontario land transfer tax refund: up to $4,000.
- Federal GST/HST rebate: up to $50,000 on a newly built home.

Ontario has also announced added HST relief on new homes. Ask us which programs fit your purchase.

Your home’s value depends on recent sales of similar homes nearby, its condition, and current buyer demand. Online estimates can be off by tens of thousands of dollars because they can’t see your updates or your street. Request a free Home Value Report and we’ll compare your home with current local sales.

Plan for 1.5% to 4% of the purchase price. Costs include Ontario land transfer tax, legal fees, title insurance, a home inspection, and property tax and utility adjustments. First-time home buyers can take advantage of the Land Transfer Tax Refund to reduce these costs.

A renewal is one of the best times to move. You can often switch lenders or port your mortgage without penalties, and you may skip the stress test when switching an uninsured mortgage at renewal. Start planning 6 to 12 months ahead. We’ll connect you with a trusted mortgage advisor and run the numbers on both options.