Buyers
Buying your next home, in the right order.
You have done this before, but the rules and the market have moved. Eight stages for a buyer who already owns, with the decisions that trip people up marked.
Stage 1 of 8
Sell first or buy first
The one decision that shapes everything else. Selling first gives you a firm number and a firm date; buying first gives you certainty about where you land and exposes you to carrying two homes.
- Get a value range for your current home, then a proper market analysis
- Ask your lender whether you qualify to carry both mortgages for a period
- Price out bridge financing: typically prime plus 2 to 3 percent for a few weeks, plus a setup fee
- Decide which you can live with: a short-term rental or a short-term double payment
General information for Ontario as of September 2026, not legal, tax or mortgage advice. Rules cited: Trust in Real Estate Services Act (RECO), CMHC insurance rules, the OSFI stress test, Ontario and Toronto land transfer tax, and the federal Income Tax Act. Confirm specifics with your lawyer, lender or accountant.