Selling a home as part of an estate is not quite the same as a traditional real estate sale.

There may be lawyers involved, probate or a Certificate of Appointment to obtain, family members to coordinate, belongings accumulated over decades to sort through, repairs to consider, and important decisions about what should happen to the property while the legal process moves forward.

And often, all of this is happening while a family is grieving.

That’s why one of the most important pieces of advice I can give families is surprisingly simple:

You do not have to wait until you are ready to sell before you start getting ready.

The Estate Sale Process Often Starts Long Before the For Sale Sign

In Ontario, the person responsible for administering an estate may need legal authority before they can complete the sale of estate property. Depending on the circumstances, that can involve applying for a Certificate of Appointment of Estate Trustee, commonly referred to as probate.

Your estate lawyer should advise you on the legal requirements for your particular situation.

But while that process is underway, there can be a great deal we can accomplish on the real estate side.

Starting early gives us time to understand the property, identify potential issues and create a plan without making every decision under deadline pressure.

Step 1: Understand the Property

One of my first jobs is simply to help the family understand what they have.

That may include reviewing comparable sales, assessing the home's current condition, looking at the neighbourhood and current market, and preparing an opinion of value.

If a date-of-death valuation is required for estate or accounting purposes, that should also be discussed with the appropriate legal and tax professionals so the correct documentation can be obtained.

This early valuation conversation can also help the estate begin making informed decisions about the property.

Step 2: Figure Out What Needs to Be Done

Estate properties can range from completely move-in ready to homes that haven't been updated in decades.

The answer isn't automatically “renovate everything.”

Sometimes painting, cleaning and a few strategic repairs make sense.

Sometimes clearing the property and selling it as-is is the better approach.

And sometimes spending significant money on renovations simply isn't justified by the likely return.

Before anyone starts writing cheques, I want to look at the property and help determine which improvements may actually matter to buyers.

Step 3: Deal With the Contents of the Home

This can be one of the most overwhelming parts of an estate.

There may be family keepsakes, furniture, collectibles, documents, clothing, tools and household items everywhere.

Please don't assume everything needs to go into a dumpster.

Depending on what's in the home, we may want to bring in professionals for appraisals, auctions, donations, estate contents sales, junk removal or a complete house clear-out.

Starting early means families can make those decisions thoughtfully rather than trying to empty an entire house the weekend before photographs are scheduled. 😳

Step 4: Prepare the Property for Market

Once we know the legal timeline and have a plan for the property, we can begin preparing for the eventual sale.

That can include cleaning, repairs, landscaping, staging recommendations, photography, measurements, marketing preparation and gathering information buyers are likely to request.

By doing this work ahead of time, we can be ready to move when the estate is legally able to proceed.

The goal isn't to rush the estate. It's to remove unnecessary delays.

Step 5: List and Sell the Property

When the estate is ready, the property can be brought to market with a strategy based on its condition, location, current competition and the estate's objectives.

There may also be specific wording, documentation or conditions required because the seller is an estate.

That's another reason I want the estate's lawyer involved early. I want the real estate process and the legal process working together rather than discovering an issue after an offer arrives.

Why Starting Early Matters

Families sometimes call a REALTOR® when probate is nearly complete and say, “Okay, we're ready to sell.”

Then we discover there are three floors of belongings to sort, repairs that need attention, documents to locate and several family members who haven't yet agreed on what should happen.

Suddenly, everything feels urgent.

I'd much rather meet you earlier.

Even if the property won't be listed for several months, we can create a roadmap:

What needs to happen? Who needs to handle it? What can happen now? What needs to wait? And what absolutely does not need to be done?

That last question can save families a surprising amount of money and stress.

You Don't Need to Have Everything Figured Out Before You Call Me

If you've recently become responsible for an estate property in Waterloo Region or the surrounding area, you don't need to wait until the paperwork is complete or the house is emptied before reaching out.

In fact, I'd rather you didn't.

I can meet you at the property, help identify the real estate pieces that need attention, connect you with appropriate professionals where needed, and build a practical timeline around the estate's legal process.

There doesn't need to be a For Sale sign going up next week.

Sometimes the most valuable thing we can do first is simply make a plan.

Have an estate property and aren't sure where to begin? Let's start there.

Charlotte Ferguson, REALTOR®
Founder, Magnolia Group Realty
Royal LePage Wolle Realty

Ontario’s housing market continues to send a fairly clear message: affordability remains front and centre, and buyers and homeowners are adapting.

From growing mortgage stress to changing buying patterns, here are a few of the stories worth watching in Ontario right now.

Mortgage Stress Is Rising in Ontario

One of the most important headlines this week comes from Equifax, with reporting pointing to increasing mortgage stress in Ontario and British Columbia alongside growth in joint borrowing.

That second part matters.

More Canadians are relying on more than one income or borrower to qualify for housing. For some families, that may mean buying with a spouse or partner. For others, it can mean parents helping adult children, siblings purchasing together or other forms of co-ownership.

It is another sign of how affordability is changing the way people approach homeownership.

For Ontario borrowers, the takeaway isn't simply that mortgages are becoming harder to manage. It is that mortgage planning is becoming increasingly important.

The mortgage that gets you approved today also needs to remain manageable tomorrow.

Affordability Is Still Shaping What Buyers Choose

Ottawa offers an interesting example.

Townhomes and condominium townhomes are helping drive new-home sales in the city, suggesting buyers are continuing to look for ways to balance affordability with the space and security they want from homeownership.

That is a trend worth watching beyond Ottawa.

When detached homes stretch beyond a buyer's comfortable budget, townhomes and other lower-cost housing types can provide another path into the market without necessarily abandoning the goal of having additional living space.

The question for buyers becomes less about “What is the biggest mortgage I can qualify for?” and more about “What type of home and mortgage comfortably fit the life I want to live?”

That is a much healthier place to start.

Mortgage Rates Remain Part of the Conversation

The broader Canadian mortgage picture is still influencing Ontario borrowers as well.

Recent headlines point to some upward movement in fixed mortgage rates even as housing affordability showed improvement in August. At the same time, there continues to be uncertainty around the Bank of Canada's next moves.

For borrowers, that creates a market where assumptions can get expensive.

Someone purchasing, renewing or refinancing shouldn't necessarily base a decision on the expectation that rates will be dramatically lower six months from now. The better approach is to compare the options available today and understand how each fits into the bigger financial picture.

What This Means for Ontario Homeowners

If your mortgage renewal is approaching, your current lender's renewal letter should be treated as a starting point, not automatically the final answer.

If you're carrying other debt, struggling with monthly payments or considering accessing equity, reviewing the entire financial picture before making changes can uncover options you may not have considered.

And if you're planning to buy, getting qualified early is increasingly valuable. It gives you time to understand your comfortable budget, address credit or debt issues and explore different mortgage structures before you're standing in a kitchen deciding whether to write an offer.

The Bottom Line

Ontario's housing market isn't telling everyone to stop buying.

It is telling us to plan better.

Affordability pressures, changing mortgage rates and growing reliance on joint borrowing mean the financing conversation should happen earlier in the home-buying process, not after you've already found the house.

Whether you're buying, renewing, refinancing or simply wondering whether your current mortgage still makes sense, a mortgage review can help you understand the numbers before you make your next move.

Charlotte Ferguson
Mortgage Agent Level 2
Dominion Lending Centres National Ltd. #12360
Licence #M08009211

Have questions about what today's Ontario mortgage market means for you? Reach out and let's look at your options.

Put the difficult conversation before the purchase

Buying a home together is a major commitment whether you are married, common-law or purchasing with a partner, relative or friend. The mortgage application answers whether you can qualify together. It does not decide what should happen if contributions are unequal or the relationship ends.

A cohabitation agreement can record the couple's intentions and reduce uncertainty. Each person should receive independent legal advice. A REALTOR® or Mortgage Agent can identify practical questions, but cannot draft the agreement or give family-law advice.

Document the down payment

If one person contributes more, decide whether that amount is a gift, a loan or a contribution that should be returned before the remaining equity is divided. Record the source of the money and keep supporting statements, especially when family members provide funds.

The lender may require a gift letter for mortgage purposes. That document serves the lender's underwriting requirements and does not necessarily resolve the couple's rights between themselves.

Understand title and mortgage liability

The names registered on title and the names responsible for the mortgage have legal and financial consequences. Co-borrowers are generally responsible for the mortgage according to the loan documents, even if one person privately agrees to make most of the payments.

Your real estate lawyer can explain ownership structures. A family-law lawyer can explain how the agreement should address the relationship, contributions and separation.

Decide how ongoing costs will work

Discuss the mortgage payment, taxes, insurance, utilities, repairs, renovations and emergency expenses. If payments are unequal, decide whether that changes ownership or equity. Without a written understanding, two people can remember the same arrangement very differently later.

Plan for a sale or buyout

A useful agreement can address how a property value will be determined, how long one person has to arrange a buyout, what happens if refinancing is unavailable and when the home must be listed. It can also address occupancy and expenses during a transition.

A private agreement cannot force a lender to release a borrower. A person usually remains liable until the mortgage is paid out or the lender approves a refinance and formal release.

Review insurance and estate planning

Life insurance, wills and beneficiary designations should support the ownership plan. The result can differ depending on how title is held and whether the couple is married or common-law. Ask the appropriate legal and insurance professionals to coordinate these pieces.

Your next step

Have the legal and financing conversations before removing conditions. Charlotte can coordinate the real estate and mortgage pieces and connect you with an Ontario lawyer for independent advice. This article provides general information and is not legal advice.

The purchase price is not the whole budget

The listing price gets most of the attention, but the expenses around the purchase can decide whether closing day feels organized or alarming. Before you offer, build a cash plan that separates your down payment from the other costs of buying.

The exact amount depends on the price, property type, location and financing. Many buyers use 1.5 to 4 percent of the purchase price as an initial planning range for closing costs, excluding the down payment. Your lawyer and mortgage professional can narrow that estimate once the property and mortgage are known.

Deposit and down payment

The deposit is delivered after the offer is accepted, according to the agreement. It demonstrates the buyer's commitment and is credited toward the purchase on closing. The balance of the down payment is normally provided to the lawyer before closing.

Because deposits move quickly, keep the funds accessible and be ready to document where they came from. Large transfers or recent gifts may require supporting records for the lender.

Ontario land transfer tax

Ontario land transfer tax is calculated using graduated rates based on the purchase price. Eligible first-time buyers may qualify for a refund of up to $4,000. Your lawyer will calculate the tax and apply any eligible refund as part of the closing process.

A buyer who has previously owned a home, including a home outside Canada, may not qualify. Couples should get advice when only one person is a first-time buyer because the ownership history and spousal rules can affect the refund.

Legal fees title insurance and disbursements

Your lawyer reviews the agreement, searches title, arranges title insurance, prepares registration documents, coordinates funds and registers the transfer and mortgage. The final invoice normally includes professional fees, title insurance, registration charges and other disbursements.

Ask for an estimate early, then leave a buffer. The final amount can change with the property, lender instructions and closing adjustments.

Mortgage related costs

Some lenders require an appraisal. The lender may cover it, or the buyer may pay it. Buyers with less than 20 percent down will generally require mortgage default insurance. The premium is usually added to the mortgage, while applicable provincial tax on the premium is paid in cash at closing.

A mortgage pre-approval itself is commonly free. Be cautious about treating every possible lender or broker charge as a standard expense. Your disclosure documents should identify any fee that applies to your specific mortgage.

Inspection adjustments and moving expenses

A home inspection can reveal defects and future maintenance needs before conditions are waived. Specialized inspections for septic systems, wells, pools, fireplaces or sewers may be appropriate for certain properties.

Closing adjustments reimburse the seller for prepaid expenses that benefit the buyer after closing, such as property taxes or some condominium charges. Then there are practical expenses: movers, utility setup, new locks, insurance and the repairs or purchases that appear during the first few weeks.

A sample cash plan

For a $650,000 purchase, start by calculating the required down payment and deposit. Then add land transfer tax after any eligible refund, the lawyer's estimate, inspection costs, any appraisal, moving expenses and a contingency amount. Do not rely on one blanket percentage when an actual worksheet can give you a much clearer answer.

We can prepare a personalized estimate before you shop so you know how much must remain available after the down payment.

Your next step

Request a buyer closing-cost review with Charlotte Ferguson, REALTOR® and Mortgage Agent Level 2. Bring your target price and available savings, and we will map the numbers before an offer makes the timeline considerably less relaxed.

Visit mortgagewithchar.com to begin.

You've saved your down payment.

Excellent.

Now let's talk about the other money.

One of the biggest surprises for first-time buyers is discovering that buying a home comes with expenses beyond the down payment and monthly mortgage payment.

None of this means buying a home is a bad idea. It simply means your budget should include the whole purchase, not just the part that gets most of the attention.

Your Deposit and Down Payment Aren't Necessarily the Same Thing

This causes confusion for many first-time buyers.

The deposit is submitted in connection with your Agreement of Purchase and Sale and ultimately forms part of the money you contribute toward the purchase.

Your total down payment may be considerably larger.

Understanding when funds are required is important because real estate transactions involve actual deadlines, not "I'll transfer it sometime next week" deadlines.

Legal Fees

You'll need a real estate lawyer to complete your purchase.

Ask for an estimate ahead of time and find out what is included so you can incorporate the expected legal costs and disbursements into your budget.

Land Transfer Tax

Ontario buyers may have land transfer tax payable on their purchase.

Eligible first-time buyers may qualify for available rebates, but you should still understand how the calculation applies to your specific purchase rather than assuming there will be no cost.

Adjustments on Closing

Your lawyer may also calculate adjustments for expenses the seller has already paid.

For example, if property taxes have been paid beyond the closing date, your portion may be adjusted on closing.

Moving Costs

Even the DIY version of moving costs money.

Truck rental. Boxes. Packing materials. Pizza for everyone who was foolish enough to answer your text that morning.

If you're hiring professional movers, get quotes early.

Insurance

You'll need to arrange appropriate home insurance, and your lender will typically require confirmation of coverage before advancing mortgage funds.

Don't leave this until the night before closing.

Utility and Service Costs

Depending on the property, you may have costs associated with setting up or transferring utilities and services.

Once you own the home, you'll also need room in your monthly budget for electricity, gas, water, internet and other household expenses applicable to the property.

Immediate Home Expenses

Here's the sneaky category.

You move in and suddenly discover you need:

• curtains

• garbage cans

• a lawn mower

• a ladder

• shelving

• snow shovels

• basic tools

• approximately 47 other things nobody mentioned

You don't need to buy everything on Day One.

But having a small post-closing cushion makes those first few months much more comfortable.

Condo Buyers Have Another Number to Consider

If you're buying a condominium, monthly condominium fees become part of your ongoing housing costs.

You should also understand what those fees include, review the status certificate and consider how the condo's financial position may affect you as an owner.

The Goal Isn't to Scare You

It's actually the opposite.

Buying your first home feels much less intimidating when you know what to expect.

Before we start touring homes, I want my buyers to understand their realistic purchasing budget, expected closing costs and what homeownership may look like after they get the keys.

Because qualifying to buy a home and being comfortable owning that home are two different things.

And we're aiming for both.

Charlotte Ferguson, REALTOR®
Finding Home With Charlotte

If you’ve been thinking about buying in Waterloo Region — whether it’s your first home, your next home, or your “finally‑I‑need‑a-bigger-kitchen” home — you’ve probably already figured out that house shopping is the fun part. House budgeting? Not so fun.

Welcome to adulthood. Bring snacks.

Most buyers start with the big number: the purchase price. But the real magic (and sometimes the real pain) is in the hidden costs — the things that don’t show up on the listing but absolutely affect what you can afford and how confidently you can move.

And since we’re REALTORS® who like telling it like it is — with a little sass and a lot of clarity — we’re breaking down every extra cost you should expect when buying a home in Kitchener, Waterloo, or Cambridge in 2025.

Let’s get you informed, empowered, and way less freaked out.

🔍 1. Deposit vs. Down Payment — Yes, They’re Different

This one gets buyers all the time.

The deposit is what you pay when your offer is accepted — usually within 24 hours. Around here, that’s often $10,000–$25,000, depending on the property and price point.

The down payment is what you pay on closing day, minus the deposit you already paid.

So no, it’s not two separate payments — but yes, the deposit needs to be cash‑ready.

Pro tip: Have your deposit accessible before you start offering. If your money is sitting in a locked‑up investment account, the bank will not magically free it for you.

🧾 2. Land Transfer Tax — AKA the “Welcome to Homeownership” Bill

Ontario land transfer tax is no joke.

On a $750,000 home (a typical detached in Waterloo Region), you’re looking at roughly $11,475 in tax.

First‑time buyers may qualify for a rebate up to $4,000, which definitely helps — but it doesn’t erase the sting entirely.

Bookmark this cost. It’s a big one.

🔧 3. Home Inspection — Not Optional in 2025 (Sorry Not Sorry)

Inspections are back, baby. And thank goodness.

Expect to pay:

• $400–$600 for a general home inspection

• $200–$350 if you add a sewer scope

• $200–$300 for infrared moisture scanning (great for older homes)

Sure, you can skip it. But so is wearing a helmet while biking. Doesn’t mean it’s a good idea.

🏦 4. Mortgage Pre‑Approval Costs — The Stuff They Don’t Advertise

Getting pre‑approved usually doesn’t cost anything, but the mortgage itself does come with closing costs such as:

• Appraisal fees: $400–$600

• CMHC insurance (if putting less than 20% down)

• Rate‑hold expiry fees if you lock in but don’t buy in time

Want help figuring it all out?
This is literally what Charlotte does all day — hop over to Mortgage With Char at www.charlottemortgages.ca and she’ll walk you through the numbers without making you feel like you’re in math class.

🧑‍⚖️ 5. Legal Fees — The Necessary but Unsexy Part

A real estate lawyer is non‑negotiable for closing in Ontario.

Typical total cost: $1,700–$2,400, including:

• Title search

• Registration

• Disbursements

• Adjustments

The “adjustments” section is where some buyers gasp — more on that in a minute.

📦 6. Adjustments — The Costs Everyone Forgets

These sneak up on people like a toddler with a Sharpie.

Adjustments are prorated amounts you owe the seller for things they prepaid:

• Property taxes

• Water heater rental

• Condo fees

• Natural gas equal billing

Sometimes it’s $200. Sometimes it’s $2,000. It depends on the date and the property.

We’ll always estimate these for you ahead of time so you’re not blindsided.

🏠 7. Moving Costs — This One Adds Up Fast

Professional movers in Waterloo Region cost:

• $900–$1,400 for a local move

• $1,400–$2,500 if you have a lot of stuff (or heavy furniture)

Plus:

• Boxes

• Packing tape

• Cleaning supplies

• Pizza bribes for your friends

Budget generously. Moving day has chaos energy.

📈 8. Utility Setup — Welcome to Bills, Baby

Plan for:

• Hydro connection fee: $40–$60

• Gas account setup: $20–$35

• Internet installation: $60–$100

• Garbage tags if you’re in a municipality that requires them

Small costs, but they add up right when your bank account is tired.

🌿 9. Immediate Fixes & “Day One” Purchases

Even move‑in‑ready homes have day‑one costs:

• New locks ($100–$300)

• Furnace filter ($20–$50)

• Smoke detector batteries ($10)

• Light bulbs ($20–$40)

• Shower curtains (apparently people take them??)

• Cleaning supplies ($50–$100)

And if the home needs touch‑ups?

• Paint: $200–$500

• Minor repairs: $100–$600

No home is perfect, and that’s okay — just be prepared.

🪵 10. Emergency Fund — The Part No One Wants to Hear About

We know. It’s boring. It’s adulting. But please… have a cushion.

We recommend 1–1.5% of the home’s value saved for the unexpected.

Water heaters leak. Deck boards crack. Washing machines develop attitudes.

A little buffer = a lot less panic.

💡 How Much Should You Really Budget in Waterloo Region?

For most buyers, the hidden costs total roughly:

3–5% of the purchase price

So on a $650,000 home, that’s $19,500–$32,500 in extras.

This is why pre‑approval isn’t enough — you need a full cost picture to avoid surprise expenses or deal‑killing delays.

🚀 Good News: You Don’t Have to Figure This Out Alone

Whether you’re just starting to explore the market or you’re ready to put in offers, we build your full budget, step‑by‑step, with zero fluff.

Call or text:

• Charlotte: 519‑575‑1804

We’ll walk through everything, show you real numbers for your price point, and help you avoid the hidden traps most buyers fall into.

Buying a home is a big deal — but it doesn’t have to feel like a financial horror movie.

Your first home starts with a plan

Buying your first home is exciting, but it can also feel like everyone is speaking in acronyms while asking you to make very expensive decisions. The good news is that you do not need to know everything on day one. You need a realistic budget, the right professionals and a clear order of operations.

This guide covers the main steps for first-time buyers in Kitchener, Waterloo and Cambridge. The rules and market conditions can change, so use it as a starting point and confirm the numbers for your own situation before making an offer.

Start with the full cost of buying

Your down payment is only one part of the cash you will need. Buyers should also plan for the deposit submitted with an accepted offer, Ontario land transfer tax, legal fees, title insurance, an inspection, moving costs and closing adjustments. A practical working estimate for closing costs is often 1.5 to 4 percent of the purchase price, depending on the property and the buyer's eligibility for rebates.

The deposit and down payment are connected, but they are not interchangeable. The deposit is paid shortly after your offer is accepted and becomes part of your total down payment on closing. Keep those funds accessible rather than locked into an investment that cannot be released quickly.

Use the programs that still exist

The First Home Savings Account allows eligible buyers to save for a qualifying first home. The first year of participation generally creates $8,000 of contribution room. Contributions may be tax deductible, and qualifying withdrawals can be tax free.

The Home Buyers' Plan currently allows an eligible person to withdraw up to $60,000 from an RRSP for a qualifying home. An FHSA withdrawal and an HBP withdrawal can be used for the same purchase when all conditions are met. The former federal First-Time Home Buyer Incentive is no longer accepting applications, so it should not appear in a current buying plan.

Ontario first-time buyers may also qualify for an Ontario land transfer tax refund of up to $4,000. Eligibility rules matter, especially when one buyer has previously owned a home, so confirm the details with your lawyer and mortgage professional.

Get properly pre approved

A quick online calculator is useful for curiosity. It is not the same as a reviewed pre-approval. A proper review considers income, debts, credit, down payment, property taxes, condo fees and the mortgage stress test. It should also leave room for the life you plan to live after closing.

Your maximum approval is a ceiling, not a shopping target. Decide what monthly payment feels comfortable before you start falling in love with listings. Homes are charming. So are vacations, groceries and occasionally ordering dinner because the kitchen is covered in paint supplies.

Choose the property with your next five years in mind

A first home does not have to be a forever home. Focus on location, layout, condition and resale appeal. Think about commuting, parking, future family needs, condo rules, maintenance and whether the property gives you reasonable options if your plans change.

In Waterloo Region, a condominium apartment, townhouse, semi-detached home or older detached property may each offer a different route into the market. The best choice is the one that fits both your finances and your actual day-to-day life.

Build your buying team before you need it

A REALTOR® can help you evaluate neighbourhoods, comparable sales, property condition and offer strategy. A Mortgage Agent can test the financing before an offer becomes firm. Your lawyer completes the legal work, while an inspector helps you understand the physical property.

When those professionals communicate early, you make decisions with better information and fewer last-minute surprises.

Your next step

Start with a buyer and mortgage planning conversation. We will review your target price, available cash, preferred monthly payment and the steps between today and possession day.

Contact Charlotte Ferguson, REALTOR® and Mortgage Agent Level 2, or begin at mortgagewithchar.com.