Home Buyer Checklist Canada 2025: Everything You Need
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This comprehensive checklist covers every step of the Canadian home buying process — from opening your FHSA years before purchase through closing day and your first week in the home. Print it, save it, and work through it systematically.
Phase 1: Before You Start Shopping (Months/Years Ahead)
Financial Foundations
Open a First Home Savings Account (FHSA) — do this immediately
Start contributing to FHSA ($8,000/year max)
Build or maximize RRSP for potential Home Buyers' Plan withdrawal
Open TFSA as supplementary savings vehicle
Set up automatic savings transfers aligned with your pay schedule
Check and improve your credit score (aim for 680+)
Pay down high-interest debt to improve debt ratios
Avoid new large credit applications (car loans, credit cards)
Save for closing costs separately (1.5–4% of purchase price)
Research home prices in your target area/city
Phase 2: Getting Ready to Buy (3–6 Months Before)
Mortgage Pre-Approval
Gather documents: T4s, NOAs, pay stubs, bank statements (3 months), employment letter
Get mortgage pre-approval from at least 2–3 lenders
Compare mortgage brokers vs. direct bank lenders
Understand your stress-tested maximum purchase price
Choose between variable and fixed rate mortgage types
Understand prepayment privileges and penalties
Calculate realistic monthly payment (not just maximum)
Team Assembly
Find and hire a buyer's real estate agent (REALTOR)
Select a real estate lawyer (get quotes from 2–3)
Identify a home inspector to use
Confirm financial advisor or planner for FHSA/HBP strategy
Phase 3: House Hunting
Search Criteria
Define must-haves vs. nice-to-haves (location, size, type)
Set up MLS alerts on Realtor.ca for target criteria
Research neighbourhood schools, transit, walkability
Understand condo vs. freehold tradeoffs
Research strata/condo fees for target buildings
Attend open houses — take notes and photos
Visit at different times of day (traffic, noise)
Check flood zone maps for target properties
Research property tax amounts for target areas
Phase 4: Making an Offer
Before Submitting
Research comparable sales (comps) with your agent
Set your walk-away maximum price in advance
Decide on conditions (financing, inspection, condo docs)
Book pre-offer inspection if waiving inspection condition
Confirm deposit amount is ready (typically 5% for firm offers)
Review property disclosure statement carefully
Confirm closing date preference with sellers via agent
After Offer Accepted
Deposit delivered to listing brokerage in trust
Contact mortgage lender — begin formal approval process
Book home inspection (if condition)
Review condo/strata documents (if condo)
Contact real estate lawyer immediately
Review inspection report — decide to waive, renegotiate, or walk
Submit financing waiver once mortgage confirmed
Confirm all conditions waived before deadline
Phase 5: Between Firm Deal and Closing
Legal and Financial
Provide signed APS and mortgage commitment to lawyer
Provide 2 pieces of government ID to lawyer
Arrange FHSA qualifying withdrawal (Form RC725)
Arrange RRSP HBP withdrawal (Form T1036) if applicable
Confirm title insurance (owner's + lender's policy) with lawyer
Review Statement of Adjustments from lawyer
Arrange wire transfer or certified cheque for closing balance
Make no major financial changes (no new debt, no job changes)
Practical Prep
Book moving company (4–6 weeks ahead for summer)
Set up utilities transfer at new address (electricity, gas, internet)
Get home insurance — required by lender before closing
Forward mail to new address
Notify employer, CRA, bank, subscriptions of address change
Phase 6: Closing Day
Closing Day Tasks
Do a final walkthrough of the property (condition as agreed)
Funds wired to lawyer's trust account
Sign documents at lawyer's office
Lawyer registers deed and mortgage at land registry
Lawyer pays seller's lawyer and all disbursements
Receive keys!
Phase 7: After Closing
First Week
Change all locks immediately ($150–$300)
Locate main water shutoff, electrical panel, gas shutoff
Test smoke detectors and carbon monoxide detectors
Deep clean before furniture arrives
Document any deficiencies noticed (for warranty claims if new)
Tax and Programs
Claim Home Buyers' Amount on tax return (line 31270)
Claim provincial first-time buyer tax credit if applicable
Update CRA My Account with new address
Track RRSP HBP repayment schedule starting year 2
Keep all closing documents for tax records
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