Buying your first home in Toronto? Marc Marinelli at HomeSalePro specializes in helping first-time buyers navigate the process with confidence. Here’s everything you need to know.
Step 1: Get pre-approved
Before you start looking, talk to a mortgage broker. You’ll need to know:
- How much you can afford
- What your monthly payments will look like
- Your maximum purchase price
Step 2: Understand closing costs
As a first-time buyer in Toronto, you may be eligible for:
- Land Transfer Tax Rebate: Up to $4,000 from the province and up to $4,478.50 from the City of Toronto
- First Home Savings Account (FHSA): Tax-free savings account with $8,000 annual contribution limit
- Home Buyers’ Plan (HBP): Withdraw up to $60,000 from your RRSP tax-free
Step 3: Choose the right neighbourhood
Marc specializes in four key Toronto areas, each with unique advantages for first-time buyers:
North York — Great transit (TTC + future Finch LRT), established condo markets, lower price points than downtown. Key areas: Yonge/Sheppard, Willowdale.
Midtown Toronto — Central location, excellent schools, strong resale potential. Key areas: Yonge & Eglinton, Davisville. Slightly higher prices but great long-term value.
Downtown Toronto — Lifestyle-first location, walkability, nightlife. Key areas: King West, Liberty Village, Harbourfront. Higher prices but strong rental income potential.
Etobicoke — Waterfront condos at good value, established neighbourhoods, easy highway access. Key areas: Humber Bay Shores, Mimico.
Step 4: Make an offer
Marc will guide you through:
- Price strategy based on comparable sales
- Conditions (financing, inspection, status certificate for condos)
- Negotiation strategy
Contact Marc for a free first-time buyer consultation
Phone: 416-662-9029
Email: marc@homesalepro.ca
Website: homesalepro.ca