10 Essential Tips for First-Time Homebuyers in Ontario (From Builders Who Know)
Buying your first home can be both thrilling and overwhelming. At Ironstone, we’ve guided hundreds of first-time buyers through the process. Here are our top 10 tips to help you navigate the journey with confidence.
1. Know Your Budget
Get pre-approved for a mortgage before browsing listings. It clarifies what you can afford and strengthens your offer.
2. Understand Closing Costs
Budget for legal fees, land transfer tax, and home inspections. These can add 3–5% to the home price.
3. New Build vs. Resale
New builds offer warranties, modern design, and energy efficiency. Resale homes may require renovations.
4. Think Long-Term
Buy for your future needs, not just the present. Consider adding extra bedrooms, a home office space, or exploring potential for expansion.
5. Location is Key
Prioritize safe neighbourhoods with schools, parks, and easy commutes.
6. Ask Questions
Ironstone encourages buyers to ask about timelines and deposits.
7. Watch the Timeline
New construction can take 8–12+ months. Make sure your current lease or housing situation lines up.
8. Choose the Right Builder
Look for a builder with a strong reputation, transparent communication, and design flexibility.
9. Review the Tarion Warranty
Know what’s covered under Ontario’s home warranty program.
10. Don’t Skip the Final Walkthrough
Use your walkthrough to flag any deficiencies before closing.
Ironstone is here to support first-time buyers. Contact our team to get started or browse our Quick Possession Homes.