For many people, home ownership is an important goal. There are many advantages to owning a home. At a fundamental level, a home provides shelter and security for individuals and families. Depending on the type of home and its location, home ownership also allows you to enjoy a lifestyle of your choosing.

Owning a home is also an investment in a substantial asset. For most people, buying a home will be the single largest investment they make in their life.

Buying a home is generally a wise investment because real estate typically holds its value, and often appreciates in value faster than inflation. Further, mortgage financing allows you to leverage a small amount of money (your down-payment) to obtain a much larger asset, which is often worth more down the road.

When real estate appreciates in value, the amount made as a profit upon sale is called a
capital gain. Owning a home is particularly advantageous because the capital gain on a principal residence (the home that you ordinarily inhabit) is not taxed, provided you meet certain requirements, such as living in the home for at least six months. This is a great advantage over buying other assets that appreciate in value (i.e. stocks).

Buying a home also provides a degree of financial independence once your mortgage is paid off.

If you're reading this page, it's likely that you've considered the advantages of home ownership and have made the decision to buy a home.

The pages in this section are meant to provide information about home purchase transactions in Ontario, from start to completion.

Should you have any questions, please don't hesitate to
contact us.