The Smartest Questions Every First-Time Home Buyer Should Ask in Toronto

Buying your first home? Welcome to the wild (and sometimes overwhelming) world of Toronto real estate. Whether you’re eyeing a downtown condo, a midtown townhouse, or a family-friendly home in the suburbs, asking the right questions can save you thousands and help you avoid major regret.

This guide breaks down the key questions first-time buyers should ask — from your real estate agent to your mortgage broker, real estate lawyer, and even the home inspector. Let’s help you become an empowered, informed buyer.

🔑 Top Questions to Ask Your Realtor (aka: me, if we’re working together 😉)

1. What’s the real estate market like right now in this neighbourhood?
Toronto real estate is hyper-local. A hot market in Leslieville might feel completely different from what’s happening in Etobicoke or Midtown. Your buying strategy depends on this.

2. What are the hidden costs of buying a home?
It’s not just the down payment. Think:

Toronto land transfer taxes (yes, plural if you’re buying in the city)
Lawyer fees
Property inspections
Moving costs
Utility setups
Title insurance
Ask your agent to walk you through all the upfront and closing costs so you’re not caught off guard.

3. How competitive is this listing?
Is it crickets, or are there 10 offers lined up already? This massively impacts your offer strategy.

🏠 Questions to Ask the Seller’s Agent (via Your Realtor)

1. Why are the sellers moving?
Sometimes it’s a job transfer. Other times… it’s a nightmare neighbour who plays drums at 2am. Understanding their motivation can give you either peace of mind or a red flag.

2. Have there been recent offers or price changes?
This will tell you if the home is sitting stale or if there’s competition heating up.

3. Were any recent renovations done — and were permits obtained?
Because that “brand new basement” might not be to code, and fixing it could become your problem.

💰 Questions to Ask Your Mortgage Broker or Lender

1. What’s the maximum mortgage I qualify for — and what can I realistically afford?
Just because a bank pre-approves you for $900K doesn’t mean you should spend that much. Let your broker help you set a budget that supports your actual lifestyle (including brunch, travel, and life outside your mortgage).

2. Is the mortgage rate fixed or variable — and what happens if rates change?
Interest rates in Canada fluctuate. Ask your broker to walk you through worst-case scenarios so you’re not blindsided later.

3. What are the terms of this mortgage product?
Important factors to ask about:

Amortization period
Pre-payment privileges
Penalties for breaking the mortgage
Portability options
There’s way more to a mortgage than just the rate.

⚖️ Questions to Ask Your Real Estate Lawyer

1. Are there any red flags in the condo status certificate?
If you’re buying a condo in Toronto, this document is crucial. It outlines the building’s financial health, reserve fund, upcoming repairs, and any ongoing legal issues. Your lawyer will spot any red flags.

2. What is the paperwork process — and can I sign remotely?
Some lawyers allow digital signings, while others might need you in-person. Clarify when and how you’ll be signing the deal.

3. What are the total legal fees and disbursements?
Beyond your lawyer’s base fee, you’ll also pay for title searches, registrations, and other disbursements. Ask for a full cost breakdown early.

🔍 Questions to Ask Your Home Inspector

1. If this were your home, what would you fix first?
Cuts through the noise and tells you what actually matters.

2. Are there any immediate safety concerns?
Electrical? Foundation? Mold? You need to know now — not when you’re already living there.

3. What happens if I don’t fix this within a year?
This is a goldmine question. Some repairs are urgent, others can wait. Knowing the difference helps you budget wisely.

✅ Bonus Tip: Keep Asking Questions

These aren’t the only questions you’ll ever ask — but they’re a solid foundation for confident, first-time home buyers in Toronto. Whether you’re buying a resale condo, a freehold home, or something in between, staying curious and informed is your superpower.

👋 Ready to Start Your Home Buying Journey?

If you’re looking for a real estate agent in Toronto who will walk you through every step — and answer every question (yes, even the ones you think are silly) — I’m here for you.

Let’s make your first home purchase feel less stressful, and way more exciting!