Your First Home
Starts Here.
Everything you need to know about buying your first home in Ottawa — from government incentives to closing day.
8 Steps to Buying
Your First Home
Get Pre-Approved
Before you start searching, speak with a mortgage broker or lender to understand exactly how much you can afford. A pre-approval letter strengthens your offer and shows sellers you're serious.
Define Your Needs
Make a list of must-haves vs. nice-to-haves — bedrooms, neighbourhood, commute, schools. Your REALTOR® will use this to filter and prioritize your search.
Start Your Search
Your agent will set up an MLS search matching your criteria and schedule showings. Expect to view 8–15 homes before finding the right one.
Make an Offer
When you find the right home, your REALTOR® will prepare a purchase offer with price, conditions (financing, inspection), and closing date. Negotiations may follow.
Home Inspection
A certified home inspector examines the property for structural, electrical, plumbing, and other issues. This protects you and may give you leverage to renegotiate.
Secure Financing
Once the offer is firm, your lender will finalize your mortgage. You'll need to provide employment verification, bank statements, and other documents.
Hire a Real Estate Lawyer
An Ontario real estate lawyer handles title search, title insurance, closing documents, and the transfer of funds. Budget $1,200–$2,500 for legal fees.
Get Your Keys
On closing day, your lawyer transfers funds to the seller and you receive your keys. Welcome home!
First-Time Buyer Incentives
The Canadian and Ontario governments offer several programs that can save you tens of thousands of dollars. Here's what you're entitled to.
First Home Savings Account (FHSA)
FederalUp to $40,000 tax-free
A registered account that lets first-time buyers save up to $8,000/year (lifetime max $40,000) tax-free towards their first home. Contributions are tax-deductible like an RRSP.
RRSP Home Buyers' Plan
FederalUp to $35,000
Withdraw up to $35,000 from your RRSP ($70,000 per couple) tax-free to buy your first home. Repay over 15 years.
First-Time Home Buyers' Tax Credit
Federal$1,500 back
Claim $10,000 on your tax return in the year you purchase, for a non-refundable credit of up to $1,500.
Ontario Land Transfer Tax Rebate
ProvincialUp to $4,000 back
First-time buyers in Ontario receive a full rebate on provincial land transfer tax up to $368,000, and a partial rebate above that — up to a maximum of $4,000.
GST/HST New Housing Rebate
FederalPartial rebate
If buying a new-build or substantially renovated home, you may qualify for a partial rebate of the HST paid on the purchase.
What Will It Cost?
Beyond your down payment, budget an additional 1.5%–4% of the purchase price for closing costs. On a $600,000 Ottawa home, that's roughly $9,000–$24,000.
Use Our Mortgage Calculator5% minimum for homes under $500K; 10% on the portion between $500K–$999K
Required if down payment is less than 20%
First-time buyers receive a rebate up to $4,000
Includes title search, title insurance, and closing documents
Strongly recommended for all purchases
Depends on distance and volume
Required by your lender before closing
You reimburse the seller for any pre-paid property tax beyond your closing date
First-Timer FAQs
How much do I need for a down payment in Ottawa?
The minimum down payment in Canada is 5% for homes priced under $500,000, and 10% on the portion between $500,000–$999,999. For homes $1M+, 20% is required. Most Ottawa first-time buyers put down 5%–10%.
Do I need a REALTOR® to buy a home?
While not legally required, a buyer's agent costs you nothing (the seller pays all commissions) and gives you professional representation, MLS access, negotiation expertise, and guidance through the entire process.
How long does it take to buy a home in Ottawa?
From starting your search to getting keys, the process typically takes 2–4 months. The closing period after an accepted offer is usually 30–90 days.
What credit score do I need for a mortgage in Ottawa?
Most lenders require a minimum credit score of 680 for the best rates. Scores below 600 can make it difficult to qualify through traditional lenders.
What is title insurance and do I need it?
Title insurance protects you against losses related to the property's title — such as unknown liens, fraud, or survey errors. It's inexpensive (~$300) and strongly recommended.
Can I buy a home while on a work permit in Canada?
Yes. Non-residents and temporary residents can purchase property in Canada, though mortgage rules and down payment requirements may differ. Speak with a mortgage broker for your specific situation.
Ready to Take the First Step?
Book a free, no-obligation consultation with Akash Sharma. We'll walk you through the entire process, answer every question, and get you set up for success.