How Ready Are You to Buy Real Estate in Canada?

Discover how well you understand the real facts about buying real estate in Canada. In just 4 quick questions, we'll evaluate your knowledge about down payments, real estate agents, location strategy, and the true rent-versus-buy comparison. Get your personalized assessment and find out exactly what you need to focus on before making your biggest financial decision.

What's the minimum down payment you can use to purchase a home in Canada?

You must save 20% or you can't buy at all You can buy with 5% down, but you'll pay mortgage insurance It depends on the lender, usually around 15% You can put down as little as you want with the right broker

When choosing a real estate agent, what matters most?

All agents are basically the same, so pick whoever is available Interview multiple agents and evaluate their market knowledge, track record, and negotiation approach Choose the agent with the biggest office or most ads It doesn't matter because you're required to use whoever the seller recommends

When comparing two properties, which factor should influence your decision most?

Always buy the cheapest property available to save money Location—neighbourhood trends, schools, employment, and development plans matter more than price The size of the house is most important because you get more for your money The age of the building determines its value and future appreciation

Over a 25-year period, how does building wealth through homeownership typically compare to renting?

Renting is always smarter because you avoid maintenance and property taxes Most Canadian homeowners accumulate significantly more wealth than renters who invested their savings elsewhere They're equal—it's just a matter of personal preference Renting wins because you can invest the difference in the stock market

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