What does your Muskoka look like?

Are you a first time home buyer or looking for a cottage on the water?

Let’s discuss your top priorities! Most of the time that can mean location, square footage, # of bedrooms/ bathrooms, features, and price. Being open with what you are searching for allows us to build a better understanding of your wants and needs and narrow down the search. Sometimes what you are looking for isn’t on the market yet, but by getting a head start we can lead with an advantage while we watch for your perfect property. Once one is found, together we will walk through the entire process as to what to expect when buying, costs associated with purchase, closing and also an understanding of your yearly maintenance and expense costs.


Land Transfer Tax

When you purchase land or an interest in land in Ontario, you must pay land transfer tax upon completion of transaction. The tax is payable when the transfer of land is registered. Land transfer tax is normally based on the purchase price of the property. The rates for residential properties are as follows:

  • 0.5% of the amount paid up to and including $55,000
  • 1% of the amount paid above $55,000 up to and including $250,000
  • 1.5% of the amount paid above $250,000 up to $400,000
  • 2% of the amount paid above $400,000
  • 2.5% of amounts exceeding $2,000,000, where land contains a single family residence.

Lake Property

The Home Buying Process

This is a typical buying process, but each transaction can vary depending on the situation.

  1. Get pre-approval of financing
  2. Choose a buyer agent
  3. Sign a buyer Agency Agreement
  4. Start your search
  5. Decide to put offer together and present offer on home/cottage
  6. Sign documents-Agreement of Purchase and Sale, Confirmation of Co-operation and Representation, FINTRAC forms.
  7. Negotiations
  8. Accepted offer
  9. Pay deposit
  10. Go through condition period- financing, inspections
  11. Waive conditions
  12. Congrats on your purchase
  13. Organize details on Purchase with your lawyer
  14. Closing date on your purchase
  15. Get your keys
  16. Move in
  17. Enjoy your new home or cottage