Frequently Asked Questions
Answers to common questions about buying, selling, and renting in the Greater Toronto Area.
Buying
Common questions from home buyers in the GTA.
How much do I need for a down payment?
In Canada, the minimum is 5% for homes under $500,000, 10% for the portion between $500,000 and $1,499,999, and 20% for homes $1.5M+. See our guide on down payment requirements.
What is a mortgage stress test?
All federally regulated lenders must qualify you at the higher of your contract rate plus 2% or 5.25%. This ensures you can handle rate increases. Try our mortgage affordability calculator.
Do I need a real estate agent to buy?
You're not required to use an agent, but a buyer's agent represents your interests, negotiates on your behalf, and typically costs you nothing — the seller pays the commission.
What are closing costs?
Expect 1.5–4% of the purchase price for land transfer tax, legal fees, title insurance, and adjustments. See our closing costs breakdown.
Selling
What to know when selling your home in the GTA.
How much does it cost to sell a home?
Typical costs include real estate commission, legal fees, mortgage discharge fees, and staging. See our seller closing costs guide for a full breakdown.
How long does it take to sell?
In the GTA, average days on market varies by neighbourhood and season. Your broker can provide a comparative market analysis for your area.
Should I renovate before selling?
Focus on high-ROI improvements: fresh paint, decluttering, and minor repairs. Major renovations rarely return their full cost. Read our guide on preparing your home.
Landlords
Rental and tenancy questions for Ontario landlords.
Is my unit rent-controlled?
In Ontario, units first occupied before November 15, 2018 are subject to rent control under the Residential Tenancies Act. Newer units are exempt. See our rent control guide.
How much can I increase rent?
For rent-controlled units, Ontario publishes an annual guideline (2.1% for 2026). Above-guideline increases require LTB approval. See our rent increase rules guide.
What can I use as a deposit?
Ontario law only permits last month's rent as a deposit. Security deposits, damage deposits, and key deposits (beyond replacement cost) are not permitted.
General
About this site and how to get in touch.
Who is behind The Housing Market?
The Housing Market is operated by Jordan Buttarazzi, a licensed broker with REAL Broker Ontario Ltd., Brokerage (RECO #5009855). This site provides educational real estate content for the Greater Toronto Area.
Is the information on this site financial advice?
No. All content is for educational purposes only. We recommend consulting with qualified professionals — including lawyers, mortgage brokers, and financial advisors — before making any real estate decisions.
How do I get in touch?
You can book a call directly through our website, email jordan@razzrealestate.ca, or visit our contact page.