Buying a home is one of the biggest decisions you’ll make. This guide walks you through how it works in Greater Sudbury, from your first budget conversation to getting the keys, so you know what to expect at every step.

Step 1: Know your budget and get pre-approved

Before you start viewing homes, talk to a lender or mortgage broker about a pre-approval. It tells you how much you can borrow, holds a rate for a period of time, and shows sellers you’re a serious buyer. In Canada, borrowers must qualify at a “stress test” rate that is higher than the rate they’ll actually pay, so your approved amount may be lower than you expect.

Try our mortgage calculator to estimate payments, and ask Team KING for introductions to local mortgage specialists we trust.

Step 2: Plan for the costs beyond the down payment

Your down payment is only part of the cash you need. Budget for:

• Ontario land transfer tax, paid on closing. First-time buyers may qualify for a refund of up to $4,000. Greater Sudbury does not charge a separate municipal land transfer tax (that applies only in Toronto).
• Legal fees and disbursements for your real estate lawyer, including title insurance.
• Home inspection, and for rural properties, well water testing and a septic inspection.
• Mortgage default insurance if your down payment is under 20% (usually added to the mortgage, but Ontario charges provincial sales tax on the premium, which is paid in cash on closing).
• Property tax and utility adjustments on closing, home insurance, and moving costs.

For a full breakdown, read How Much Does It Cost to Buy a House in Sudbury? and use our home buying cost checklist.

Step 3: Choose your REALTOR® and sign a Buyer Representation Agreement

In Ontario, a brokerage must have a written agreement with you before representing you as a buyer. It sets out what your agent will do, how long the agreement lasts and how they’re paid. Read it carefully and ask questions. Our Buyer Representation Agreement explainer and checklist cover what to look for.

Step 4: Find the right neighbourhood

Greater Sudbury is large and spread out, and each area feels different. The South End, New Sudbury, Minnow Lake, Valley East, Chelmsford, Lively and the city’s many lakes all offer different home styles, price points and commutes. Explore our neighbourhood guides, then set up free listing alerts so new homes in your areas come straight to you.

Step 5: View homes with a critical eye

Look past the paint and furniture. Check the roof, windows, furnace and water heater age, signs of water in the basement, and the electrical panel. Ask about heating costs. On rural and waterfront properties, ask about the well, septic system, road access and winter maintenance. Jason is known for climbing into attics and crawl spaces to look for red flags, and we’ll point out what we see.

Step 6: Make an offer

Your offer is written on the standard Ontario forms and includes the price, deposit, closing date, what’s included (like appliances), and any conditions. Common conditions are:

• Financing: time to confirm your mortgage.
• Home inspection: time to have the home inspected.
• Sale of your current home, if you need to sell first.
• Water and septic testing for rural properties.

Your deposit is usually due shortly after the offer is accepted, so have those funds ready. In competitive situations, we’ll talk through strategy with you, including the real risks of waiving conditions.

Step 7: Firm up, then get ready to close

Once conditions are met and waived, the deal is firm. Your lawyer handles the title search, mortgage documents and land transfer tax. Arrange home insurance, book movers, and set up utilities. You’ll typically get a final visit before closing to make sure the home is in the condition agreed.

Step 8: Closing day

On closing, your lawyer transfers the funds and registers the home in your name. Then you get your keys. Congratulations!

First-time buyer?

Look into the First Home Savings Account (FHSA), the RRSP Home Buyers’ Plan and the Ontario land transfer tax refund for first-time buyers. Rules and limits change, so confirm current details with your lender or accountant. Team KING also runs a free First-Time Home Buyer Seminar.