For many homeowners thinking about upgrading to a larger property, one question often comes up early in the process:

Should we sell our home first or buy our next home first?

Both approaches are common in the Toronto and Greater Toronto Area (GTA) market, and each has its advantages depending on your financial situation, comfort level, and market conditions.

Understanding how each option works can help homeowners make a more informed decision when planning their next move.

Selling Your Home Before Buying

Some homeowners prefer to sell their current property before purchasing another one.

One of the main benefits of this approach is financial clarity. Once the home is sold, the seller knows exactly how much equity they will have available for their next purchase.

This can make it easier to determine a comfortable budget for the new home.

Selling first may also reduce financial pressure since homeowners avoid the risk of carrying two properties at the same time.

However, there can be challenges. In some situations, sellers may feel pressure to find a new home quickly after their property sells, which can limit flexibility when searching for the right property.

Buying Before Selling

Another option is to purchase a new home before selling the current one.

This approach can offer more flexibility, allowing homeowners to secure the right property before listing their existing home.

In competitive markets, this strategy can also make it easier to act quickly when the right opportunity appears.

The main consideration with this approach is financial risk. If the current home does not sell within the expected timeline, homeowners may temporarily carry the costs of two properties.

Because of this, careful financial planning is important.

Strategies to Align Both Transactions

In many situations, homeowners look for ways to align the sale and purchase of their properties to reduce pressure and uncertainty.

This can include strategies such as:

• Structuring offers with specific conditions

• Coordinating closing dates

• Preparing the home for sale before beginning the purchase process

When these steps are planned carefully, homeowners can move forward with greater confidence.

Why Planning Matters

Upgrading to another home often involves two significant transactions happening close together.

Without a clear plan, the process can feel overwhelming. With the right preparation and professional guidance, however, many homeowners successfully transition from one property to another.

Understanding timelines, financial considerations, and market conditions helps homeowners make decisions that support their long-term goals.

Final Thoughts

There is no single answer to whether you should sell your home before buying another.

Each situation is unique, and the best approach depends on your finances, your timeline, and the type of property you hope to purchase next.

If you're considering upgrading your home in Toronto or the GTA, having a clear strategy can make the process much smoother.

Looking for guidance as you plan your next move? The Unna Real Estate team is here to help you explore your options and build a plan that fits your situation. Click here to contact us.

When preparing to buy a home, many buyers focus on the down payment. However, there are additional expenses known as closing costs that should also be considered. This content explains what closing costs typically include and how to prepare for them.

Let's break down the most common closing costs buyers should expect when purchasing a home in Ontario.

What Are Closing Costs?

Closing costs are the expenses that must be paid when the real estate transaction is finalized and ownership of the property is transferred from the seller to the buyer.

These costs cover legal services, taxes, and administrative expenses required to complete the purchase.

In Ontario, buyers can face these costs, which can vary depending on the property and location.

Planning for these costs ahead of time helps avoid unexpected financial pressure at the end of the process.

Land Transfer Tax

One of the largest closing costs in Ontario is the land transfer tax.

This tax is paid when the property ownership changes hands. The amount is calculated based on the purchase price of the property.

For buyers purchasing in Toronto, there is both a provincial land transfer tax and a municipal land transfer tax, which can significantly increase the total amount owed.

First-time home buyers may qualify for rebates that reduce this expense.

Land transfer tax in Ontario is calculated using a tiered system, meaning each portion of the purchase price is taxed at a different rate:

• 0.5% on the first $55,000

• 1.0% on $55,000 - $250,000

• 1.5% on $250,000 - $400,000

• 2.0% on $400,000 - $2,000,000

• 2.5% on any amount over $2,000,000

If you're purchasing a property in Toronto, you’ll need to pay both the Ontario land transfer tax and an additional municipal land transfer tax.

In simple terms, Toronto buyers pay this tax twice, which can significantly increase your closing costs.

Legal Fees

A real estate lawyer plays an important role in the closing process.

They review documents, register the property transfer, handle the mortgage paperwork, and ensure the transaction is completed properly.

Legal fees prices can vary depending on the complexity of the transaction.

Title Insurance

Title insurance protects buyers and lenders from potential ownership issues related to the property.

These issues can include problems with previous ownership records, boundary disputes, or title defects that were not discovered before the purchase.

Title insurance is usually a one-time fee paid during closing and is arranged through your lawyer.

Home Inspection

Although not always mandatory, many buyers choose to conduct a home inspection before completing their purchase.

A home inspection helps identify potential issues with the property, such as structural concerns, roofing problems, or electrical issues.

The cost of a home inspection can vary depending on the size and type of property.

Adjustments

Adjustments are reimbursements paid to the seller for expenses they may have already covered before the closing date.

These can include:

• Property taxes

• Utility payments

• Condominium maintenance fees

For example, if the seller has already paid property taxes for the year, the buyer may need to reimburse the portion that applies after the closing date.

Planning Ahead for Closing Costs

Because closing costs can add several thousand dollars to a home purchase, it’s important to include them in your overall budget.

Buyers can prepare by:

• Understanding the estimated costs early in the process

• Setting aside additional savings beyond the down payment

• Working with experienced professionals who can explain each step clearly

Proper planning helps ensure that the closing process is smooth and stress-free.

Final Thoughts

Buying a home involves several financial components beyond the purchase price. Closing costs are a normal part of the process and should be considered when planning your budget.

By understanding what these costs include and preparing in advance, buyers can approach their purchase with greater clarity and confidence.

Looking for guidance through the home buying process? The Unna Real Estate team is here to help you understand the numbers and plan your next move. Click here to contact us.

Buying your first home is exciting, but it also comes with a lot of costs. One cost many people forget about is called the Land Transfer Tax (LTT). This is a tax (extra fee) you pay when you buy a home. If you're buying in Toronto, this tax can be a big number. But the good news is that there are rebates (money back) to help you save.

Let’s break it down clearly and simply.

What is Land Transfer Tax?

When you buy a home in Ontario, you pay the provincial LTT. If you're buying in Toronto, you also pay an additional municipal LTT (MLTT). The amount depends on your home’s purchase price. For example, on a $700,000 home in Toronto, you’d pay roughly $20,950 in total land transfer tax.

Rebates Available for First-Time Buyers

If you're a Canadian citizen or permanent resident first-time buyer, you could be eligible for a Land Transfer Tax rebate from both the Province of Ontario (up to $4,000) and the City of Toronto (up to $4,475). In place since 2007 and 2008, respectively, these rebates are automatically applied if your lawyer registers your eligibility during closing, but we always recommend confirming this ahead of time.

Do You Qualify?

To be eligible for the first-time home buyer land transfer tax rebate, you must be a Canadian citizen or permanent resident, intend to live in the home as your primary residence, and must not have previously owned a home or even a portion of one. You also need to apply within 18 months of the purchase. If you’re buying with someone who isn’t a first-time buyer, your rebate will be prorated based on your share of ownership. This rebate can help ease some of the financial pressure that comes with buying your first home.

Our clients often ask us, “Should I buy now or wait?” Our answer is: Let’s look at the numbers together. If this rebate is part of your financial picture, it could tip the scale in your favour.

Book a call with us, and we’ll run a real breakdown based on your budget and help you make an informed decision.

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When planning to buy a home in Canada, one of the first questions most people ask is: "How much do I need for a down payment?" It's a crucial piece of the puzzle, and understanding the requirements can help you plan your finances more effectively.

This content breaks down everything you need to know about down payments in Canada: how much you need, what affects the amount, and how to prepare.

What Is a Down Payment?

A down payment is the portion of the home price you pay upfront when buying a property. The rest of the purchase is typically covered by a mortgage.

Your down payment amount impacts:

• Your monthly mortgage payments

• Whether you need mortgage loan insurance

• The interest rate you might qualify for

Minimum Down Payment Requirements in Canada

The minimum down payment you need depends on the price of the home and which lender you usr but typically the big banks use these guidelines:

• Homes under $500,000: Minimum 5% down

• Homes between $500,000 and $999,999: 5% on the first $500,000 and 10% on the remaining amount

• Homes of $1 million or more: Minimum 20% down

Example: If you're buying a $750,000 home in Toronto:

• 5% on the first $500,000 = $25,000

• 10% on the remaining $250,000 = $25,000

• Total minimum down payment = $50,000

What Happens If You Put Less Than 20% Down?

If your down payment is less than 20%, your mortgage can be considered high-ratio, and you'll need to pay for mortgage loan insurance, usually through the Canada Mortgage and Housing Corporation (CMHC) or Genworth.

Mortgage insurance protects the lender, not the buyer, but it allows you to access homeownership with a lower down payment.

Where Can Your Down Payment Come From?

Accepted sources for a down payment include:

• Personal savings

• RRSPs

• Gifted funds from immediate family

• Equity from the sale of another property

How to Plan for a Down Payment

1. Set a goal: Know the type of home and price range you’re aiming for

2. Understand closing costs: Down payment is only part of what you need

3. Automate savings: Set up a dedicated savings account or use FHSA/RRSPs

4. Talk to your real estate agent: They'll help you build a plan and connect with the right professionals to set a realistic timeline

Your down payment is one of the biggest financial steps in buying a home, but it’s also one of the most manageable with the right strategy. Whether you’re buying your first condo or upsizing to a family home, understanding these thresholds is key to making confident decisions.

Looking for a personalized plan? Our Unna team is here to help you navigate the numbers and find the best path forward. Click here to contact us.

On January 28, 2026, the Bank of Canada held its overnight lending rate at 2.25%. This marks another hold in the Bank’s effort to observe how inflation and the broader economy respond to evolving encomic pressures.

Why Did the Bank Hold?

The decision to maintain the current policy rate reflects ongoing uncertainty in the economic data. December’s inflation figures showed a continued decline, but not at a pace that guarantees price stability. At the same time, economic growth has slowed, and the labour market is showing early signs of softening. The Bank of Canada has forecast modest economic growth as inflation remains close to the 2% target. In this environment, the Bank chose to pause and monitor rather than move too early in either direction.

What It Means for Mortgages

• Variable-rate mortgage holders will not see immediate changes in their monthly payments.

• Fixed-rate mortgages are driven by bond markets. A steady rate environment can anchor bond yields, although any change in economic sentiment could still influence fixed rates up or down.

Housing Market Context

A rate hold doesn’t mean the market is static. It creates an environment where buyers and sellers can plan more confidently without anticipating immediate cost changes. In places like Toronto, where affordability remains an issue, stability can help bring some participants back into the market, particularly those who paused due to rate volatility.

At Unna Real Estate, we guide families through uncertain markets every day. If you’re feeling overwhelmed or unsure what this rate change means for your home journey in Canada, we’re here to help bring clarity, and real options to the table. Click here to contact us.

Understanding what affects property value is essential whether you’re thinking about selling, refinancing, or simply planning for the future. While many factors influence a home’s worth, some have a much bigger impact than others.

You’ve likely heard the saying “location, location, location”, and it remains the most important factor affecting property value today. However, location is just the starting point.

At Unna Real Estate, when we evaluate a property’s value, we begin by reviewing comparable properties that are currently for sale or have recently sold in the same area. From there, we analyze several key elements that influence market value.

Below are the main factors that affect property value the most.

Location and Proximity to Key Amenities

Location plays a major role in property appreciation. Homes close to important amenities tend to hold and increase their value over time.

This includes proximity to:

• Work and business districts 

• Schools and universities 

• Hospitals and healthcare services

• Grocery stores, markets, and retail areas

• Public transit and walkable neighborhoods

Properties that allow residents to walk or enjoy short commutes are often more desirable. On the other hand, homes far from commercial centres can lose value due to longer commute times, reduced convenience, and lower overall demand.

Size of the Property

The size of a property is another major factor affecting home value. Larger homes typically command higher prices because:

• They offer more living space

• They appeal to growing families 

• They often have higher price-per-square-foot values 

When a larger property is located near commercial centres or in a desirable neighborhood with good security, its value can increase even further.

Condition of the Property

Over time, all properties experience wear and tear. The condition of the home plays a critical role in determining its market value.

Common factors that affect value include:

• Age of major systems (roof, HVAC, plumbing, electrical)

• Quality of finishes and materials

• Level of maintenance and upkeep

Investing in renovations and regular maintenance can help prevent depreciation and, in many cases, significantly increase property value.

How These Factors Determine Market Value

All of the factors above help determine a property’s market value.

Market value is defined as the highest estimated price a property is likely to achieve when:

• It is exposed to the open market

• A reasonable amount of time is allowed to find a buyer

• The buyer and seller are knowledgeable and acting without pressure

In simple terms, market value reflects what a well-informed buyer is willing to pay under normal market conditions.

Why Knowing Your Property Value Matters

Even if you are not planning to sell your home, knowing your property’s value is always a smart move. It helps with:

• Financial planning

• Refinancing decisions

• Investment strategies

• Understanding your equity

At Unna Real Estate we believe homeowners should always be informed. That’s why we’re happy to provide a detailed home value analysis, tailored to your property and current market conditions.

📩 Request your free home value analysis today and understand what your property is really worth.

Se você é proprietário de um imóvel em Toronto, existe uma regra importante que precisa ser seguida. Todos os proprietários devem enviar a declaração do Vacant Home Tax em Toronto, mesmo que morem no imóvel o ano inteiro.

Para o ano-base de 2025, o prazo para declarar é 30 de abril de 2026.

Essa regra vale apenas para imóveis localizados em Toronto. Outras cidades possuem regras diferentes.

O Vacant Home Tax foi criado pela City of Toronto para aumentar a oferta de moradias, evitando que imóveis fiquem vazios por longos períodos. Perder o prazo pode resultar em impostos altos, multas e juros.

O Que é o Vacant Home Tax em Toronto?

O Vacant Home Tax em Toronto (VHT) é um imposto anual de 3% sobre o valor avaliado de imóveis residenciais que tenham ficado desocupados por mais de seis meses no ano anterior (neste caso, 2025).

Exemplo:

• Imóvel avaliado em $1,2 milhão

• Considerado vazio

• Vacant Home Tax = $36.000

Quem Precisa Declarar o Vacant Home Tax em Toronto?

Todos os proprietários de imóveis residenciais em Toronto devem declarar, sem exceção.

Isso inclui:

• Residência principal

• Imóvel de aluguel

• Imóvel de investimento

• Imóvel herdado ou mantido em trust

Se a declaração não for enviada até 30 de abril de 2026, a cidade pode considerar o imóvel automaticamente como vazio e aplicar o imposto, além de multas e juros.

Como Declarar o Vacant Home Tax em Toronto

O processo é simples e online:

1. Acesse toronto.ca/vacanthometax

2. Tenha em mãos o número de matrícula de 13 dígitos e o número do cliente (no imposto predial)

3. Envie a declaração - leva menos de 5 minutos

Isenções do Vacant Home Tax em Toronto

Se o imóvel ficou vazio por um motivo válido, pode haver direito à isenção, como:

• Reformas com licença aprovada

• Proprietário hospitalizado ou em cuidados de longa duração

• Falecimento do proprietário

• Questões legais que impedem a ocupação

• Transferência de propriedade durante o ano

É necessário apresentar documentação comprobatória.

Por Que o Vacant Home Tax em Toronto é Importante

Na UNNA Real Estate, ajudamos proprietários, compradores do primeiro imóvel e investidores imobiliários por toda Toronto. Como equipe localizada na região de College & Ossington, com a Revel Realty, acompanhamos de perto regras como o Vacant Home Tax, pois elas impactam diretamente seu imóvel e seu patrimônio.

Se você tem dúvidas sobre o Vacant Home Tax, precisa de ajuda para entender um aviso da prefeitura ou quer conversar sobre estratégias para imóveis de investimento, estamos aqui para ajudar.

📍 UNNA Real Estate Group

Orgulhosamente baseada no lado oeste de Toronto | Parte da Revel Realty

🌐 www.unnarealestate.com

📩 Vamos conversar sobre o seu próximo passo.

Este conteúdo é apenas informativo e não constitui aconselhamento legal ou fiscal.