The First-Time Home Buyer Timeline: Step by Step

Buying your first home can feel overwhelming until you see it as a sequence of clear steps. From building your savings to getting the keys, the journey follows a predictable order. Here's the first-time home buyer timeline in Ontario — what happens at each stage, and how long it usually takes.

Key takeaways

• The journey runs from saving, to pre-approval, to shopping, to offer, to closing.
• Saving is the longest phase; pre-approval and closing are the fastest.
• Get pre-approved before you shop so you know your budget and bid with confidence.
• Closing in Ontario typically takes 30–90 days after an accepted offer.
• HOMEH's Cashback Rebate, the industry's highest, arrives at the finish line.

The timeline at a glance

Every first-time purchase moves through the same five stages. The early stages take the longest; the final ones move quickly once you're ready.

Stage 1: Save your money

This is the longest stage. You're saving your down payment (minimum 5% on a home under $500,000) plus closing costs of 1.5% to 4%, ideally using an FHSA. Work out your target in how much to save before buying, and use this time to strengthen your credit per how to improve your credit score before buying.

Stage 2: Get pre-approved

Before you shop, get a mortgage pre-approval so you know your real budget and lock in a rate hold. It also makes your eventual offer stronger — see how a pre-approval strengthens your offer. Get started with a HOMEH mortgage broker.

Pre-approval first, shopping second

Shopping before you're pre-approved risks falling for a home outside your budget. Get the number first, then look at homes you can actually finance.

Stages 3 & 4: Shop and make an offer

With your budget set, tour homes, choose one, and submit an offer. You'll decide whether to include conditions (financing, inspection) — see conditional vs firm offers. Once the seller accepts and any conditions are met, the deal goes firm.

Stage 5: Closing day

Between the firm deal and closing — usually 30 to 90 days — your real estate lawyer handles the legal transfer, you finalize the mortgage, and you pay your closing costs. On closing day, title transfers and you get the keys. Budget the final costs with the closing cost calculator.

Cross the finish line with HOMEH

At the end of the journey, HOMEH puts money back in your pocket. Eligible buyers receive the industry's highest Cashback Rebate. For the complete walkthrough, read the first-time home buyer guide for Ontario.

Cashback at closing

Eligible HOMEH buyers get the industry's highest Cashback Rebate. Estimate yours with the cashback calculator.