The Ontario Home Ownership Savings Plan (OHOSP) has already helped more than 250,000 first-time buyers realize their dreams of home ownership. This article explains how an OHOSP can help you save for your first home. It describes the eligibility requirements for opening a plan, OHOSP tax credits and other details about the program. How the Plan Works If you earn less than $ 40,000 (or if you and your spouse have a combined income of less than $ 80,000), you can benefit from... [read more]

Set Your Savings Goal Having a specific number to work toward will make saving easier. Think about the kind of home you’d like to own and neighbourhoods you’d like to live in, and do some research on prices. Engaging with a realtor at this point can help you get a good idea of what’s available and what the trends are in terms of prices. Once you have an idea of how much you want to spend on a home, you’ll need to decide how much of a down payment to aim for. The... [read more]

Buying with an Agent When you’ve decided to buy a home, you might debate on whether or not to hire a specific real estate agent to help you in your search. What an agent can do for you If you don’t know what a buying agent can do for you, here are some key benefits to keep in mind: Full-time support The best houses often sell in a matter of hours—sometimes before they even hit the Realtor.ca system. You might have a busy schedule, but a full-time agent is always... [read more]

When you purchase a brand new condo and finally get the keys to your suite, many buyers are surprised to find out that their new home is not theirs yet. Although this is an exciting phase in the new home ownership process, it is actually not the “ownership” phase.  It’s called “interim occupancy” and it allows a builder to finish construction while also organizing an orderly move-in process for what could be hundreds of buyers. And with so many moving parts,... [read more]