What I’d Do Differently If I Were Buying My First Property Today

Buying Real Estate

Apr 7

Buying your first home in Toronto today looks a lot different than it did even five years ago. Prices have climbed, mortgage rules are stricter, and competition remains fierce in many neighbourhoods. As a full-time Toronto real estate agent since 2010, I’ve helped hundreds of buyers navigate this market — and if I were starting from scratch today, I’d approach it differently.

If you're thinking about buying your first home in 2025, here's what I’d recommend, based on experience, market data, and lessons learned.

1. I’d Focus on Budget Before Browsing

A common mistake first-time homebuyers make is looking at listings before fully understanding their borrowing power.

Get a pre-approval first, not just a rate quote
Know your debt service ratios (GDS/TDS), not just your down payment
Use tools like the CMHC mortgage affordability calculator

Why it matters: In 2025, the average home price in the GTA is just over $1,081,500 (as of March 2025, per TRREB). Even a small difference in interest rate or purchase price can shift your monthly payment by hundreds of dollars.

2. I’d Look Beyond the Popular Neighbourhoods

If you’re priced out of downtown Toronto, you’re not alone. But there are still great opportunities if you’re willing to look a little wider.

Instead of: Queen West, Roncesvalles, The Annex
I’d also consider:

Mimico (fast access to the Lakeshore & GO)
Birch Cliff (growing family-friendly community)
Weston (still undervalued with UP Express access)
Danforth East (solid long-term growth with great schools)

Use tools like HouseSigma or Zoocasa to track sold prices and trends in these areas.

3. I’d Prioritize Resale Potential, Not Just Personal Preference

Your first property doesn’t have to be your forever home. But it should be a smart stepping stone.

Ask yourself:

Is this in a transit-friendly zone?
Is it a unit or home type in demand (1+den condos, 3-bed semis, etc.)?
Could it work as a rental if life plans change?

A good rule of thumb is to choose a property you'd feel confident renting out in a pinch — especially important in a volatile economy.

4. I’d Buy With a Plan for 5+ Years

With higher mortgage rates and closing costs, flipping a property in under 3 years rarely makes financial sense today.

According to Ratehub.ca, the average 5-year fixed mortgage in early 2025 sits around 5.3%, and the break-even point (where appreciation offsets transaction costs) is closer to 5–6 years in most cases.

That means:

Buy a home you can live in (or rent out) for at least 5 years
Think about life changes (job, kids, commute) over that period
Avoid over-extending yourself just to “get in the market”

5. I’d Work with a Local Expert (Not Just Search Online)

Real estate portals are helpful, but they don’t replace local experience. A good buyer agent can:

Spot red flags in listings (poor layouts, special assessments, etc.)
Advise on offer strategy based on hyperlocal data
Recommend trusted mortgage brokers, inspectors, lawyers, and trades

Most importantly, you’ll have someone watching for listings that match your actual goals — not just sending you everything in your price range.

If I could go back, I’d choose someone who asked the right questions before jumping into showings.

Final Thought: Buy When You’re Ready, Not Just Because the Market’s Moving

There’s a lot of noise in the media around “now’s the time to buy” or “wait for the crash.” But your decision should come down to personal readiness — financially, emotionally, and practically.

In 2025, the GTA market still has long-term growth fundamentals (immigration, supply constraints, employment), but success depends on buying the right property for you — not just getting into the market.