40+ questions every Ontario homeowner asks. Searchable, organized, and updated quarterly. For your specific situation, the free 15-min call walks through the math.
InstantCalculator returns a low / mid / high range based on Repliers MLS comparable sales data within ~500m of your address. Typical accuracy: ±10-15% for the range; the mid-point is usually within ±5-8% of fair market value. For a number within ±3-5%, request a free Letter of Opinion call.
Yes, completely free. No signup required to get the initial estimate. We collect your contact info only if you want a follow-up Letter of Opinion call or detailed report.
Our AI voice assistant typically calls within 2-5 minutes of your submit to confirm details. If you prefer email-only, indicate that in the form or text us back.
When you submit, our system dispatches an AI assistant that calls your phone to confirm your details, answer initial questions, and book a follow-up call with Alex. The AI is clearly identified as an assistant, not pretending to be human.
Reply STOP to the welcome SMS, or call/email Alex directly at alex@homsy.ca. We respect opt-outs immediately.
An online estimate (like InstantCalculator) is a ballpark using algorithms + MLS comps, accuracy ±10-15%. A CMA (Comparative Market Analysis) is a free agent-prepared analysis using comparable sales, accuracy ±3-5%. An appraisal is a paid ($400-$600) legal document from a licensed appraiser, required for lender financing or legal matters, accuracy ±3-5%.
A Letter of Opinion is a written, signed document from a licensed real estate agent stating their professional opinion of your home’s market value, supported by 3-5 comparable sold listings. Like a CMA but more formal. Free, no obligation.
Median 22 days in the City of Toronto in Q1 2026. Properly priced homes typically receive offers in 14-25 days. Days vary by neighbourhood, property type, and season.
April-June is the peak Ontario selling season (most buyer demand, fastest DOM). September-October is the secondary peak. Avoid November-February if your timeline has flexibility.
Typically 4-5% of sale price for commission (negotiable), plus ~$1,500-$3,500 lawyer fees, plus $5,000-$15,000 pre-list prep. On a $1.5M sale: total ~$85,000-$100,000.
Yes. Typical Ontario commission is 4-5% of sale price (split between listing and buyer’s brokerages), but rates are not fixed by regulation.
Under OSFI’s B-20 rules, mortgage applicants must qualify at the higher of: their contract rate + 2%, OR the qualifying rate (5.25% as of 2024+). This reduces what most Ontario buyers qualify to borrow by approximately 15-20%.
5% on the first $500,000 of purchase price; 10% on $500K-$1.5M; 20% on any portion above $1.5M. Maximum insurable purchase price is $1.5M (up from $1M in Dec 2024).
On a $1.2M Toronto purchase: $20,475 Ontario LTT + $20,475 Toronto Municipal LTT = $40,950 total. First-time buyers get up to $8,475 rebated. 905 purchases pay only Ontario LTT.
Yes. Ontario first-time buyer LTT rebate up to $4,000; Toronto Municipal LTT rebate up to $4,475. Combined: up to $8,475.
FHSA (First Home Savings Account, up to $40K lifetime, tax-deductible). HBP (Home Buyers’ Plan, withdraw up to $60K from RRSP tax-free, repayable over 15 years). Combined per person: $100K of tax-advantaged down payment.
Yes — always. The Big 5 bank renewal rate is typically 0.15-0.40% above open market. Shopping at 120 days before renewal typically saves $15K-$40K over a 5-year term on a typical Ontario mortgage.
Variable rate: typically 3 months’ interest (~$3K-$8K on a GTA-sized mortgage). Fixed rate: greater of 3 months’ interest OR Interest Rate Differential (IRD), which can be $15K-$40K+.
Usually yes, if you buy within 90-120 days of selling. Portability rules vary by lender — check before signing. Also ask about ‘blend and extend’ for buying a more expensive home.
Short-term financing (30-120 days) that lets you close on a new home before your existing home’s sale closes. Cost: $1,000-$5,000 typically. Requires firm sale on your existing home.
Look at: 3-year price trend (should outperform Ontario average), buyer pool depth (consistent demand), transit + amenity additions (Eglinton LRT, GO Train expansions), school catchments, and supply pipeline (avoid neighbourhoods with massive new-build coming online).
Detached typically appreciates better long-term; condos offer lower entry, walkability, easier maintenance. For 2026 specifically: well-located detached under $1.4M and transit-served midtown condos are the strongest segments. Older 1990s-2000s condos are softer.
Mixed market. Detached prices stable-to-up; condo prices flat-to-slightly-down with segments. If you find the right property at a fair price, yes — but don’t FOMO. The 2021-22 ‘must buy now’ urgency has cooled.
Conditional offer accepted: 5-10 days of conditional period. Firm sale: 30-90 days mutually agreed closing. Total: 5-13 weeks from accepted offer to keys in hand.
Strongly recommended for resale. Cost: $500-$800. Reveals material issues that affect price negotiation or your decision to proceed. Some buyers skip in multiple-offer scenarios — risky.
For condo purchases only. Document summarizing the condo corporation’s financial health, reserve fund, recent decisions, pending lawsuits. Cost: $100-$150. Always have your lawyer review before condo purchase.
Traditionally the seller pays both listing + buyer’s agent commissions out of sale proceeds (negotiated in the listing agreement). Under 2024 RECO reforms, buyers now sign a Buyer Representation Agreement that specifies how their agent is compensated.
Legally yes. Practically: Ontario FSBOs typically sell for 4-6% less than agent-listed homes (per industry studies) — more than the commission saved. You also miss MLS access, buyer-agent network, and negotiation expertise.
Yes — essential. Decluttered homes sell faster and for ~3-5% more on average. Budget $500-$1,500 for a deep declutter and pre-list clean.
Generally no for major renovations within 12 months of listing — most don’t return their cost. Cosmetic prep (paint, staging, decluttering, landscape, minor repairs) returns 3-6x and is worth $5-$15K for most Ontario homes.
Principal residence is your primary home — capital gains exempt from tax. Investment property is held for rental income or future resale — gains taxed at 50% inclusion rate × your marginal rate. You can only have one principal residence at a time.
For principal residence: no, the Principal Residence Exemption shelters all gains. For investment property or secondary residence: yes, 50% of gain taxed at your marginal rate.
Most forecasters (Ontario MLS, CREA, Big 5 bank economists) project +2-5% nominal growth in 2026 and stronger 2027 as supply tightens and immigration continues. Variance by submarket is substantial — established detached neighbourhoods outperforming, investor-heavy condo stock lagging.
‘Available’ = currently listed and open to offers. ‘Sold’ = an accepted offer is in place (could be conditional or firm). ‘Sold Conditional’ = offer accepted but conditions not yet waived. ‘Sold Firm’ = unconditional, awaiting closing.
Yes, but sellers in multi-offer scenarios may insist on firm offers. To mitigate risk while going firm: pre-inspect before offering, get pre-approvals from multiple lenders, review status certificate for condos. See our offer guide.
InstantCalculator’s neighbourhood pages show median sold prices, days on market, and recent comparable sales for every Ontario neighbourhood, updated monthly. For specific property-level sold prices, request a free CMA.
Look for: 3+ years of active local experience, recent transactions in your specific neighbourhood, references from past clients in similar situations to yours, marketing budget that fits your home’s price tier, and a communication style that fits how you want to work.
Signs of overpricing: less than 10 showings in week 1, no offers by week 3, listings of similar homes selling around you while yours sits. If you’re 5%+ above recent sold comps, you’re likely overpriced. Reduce price within 30 days if no offers, before the market reads your home as stale.
No. Sign with one brokerage at a time (this is the listing agreement). Listing with multiple agents typically isn’t allowed in Ontario and creates legal/commission issues.
Ask the agent for: recent comparable sold data, their marketing plan in writing, their commission rate, communication frequency expectations, references from past clients in your situation. Interview 2-3 agents before signing.
A 15-minute call walks through your specific numbers. No agenda. If nothing useful comes out, I’ll say so.
What brings you here today?
Timeline?
Property address
How should we reach you?
By submitting you agree to our Privacy Policy and to receive communications about your inquiry. Reply STOP to opt out.