Buying a Home

Q: What’s the minimum down payment to buy a home in Ottawa or Ontario?
A: In Ontario, you need 5% down on the first $500,000 of a home, and 10% on the portion between $500,000–$999,999. For homes $1M+, the minimum is 20%. Many Ottawa buyers fall into the 5–10% range.

Q: How much land transfer tax do I pay when buying in Ottawa?
A: You’ll pay Ontario’s provincial land transfer tax. Ottawa doesn’t add an extra city tax (Toronto does). First-time buyers may qualify for a rebate of up to $4,000.

Selling a Home

Q: How long does it take to sell a home in Ottawa?
A: In most Ottawa neighborhoods, average days on market (DOM) are about 25–40. Homes that are well-priced and staged often sell in under a week.

Q: What fees should I expect as a seller?
A: Common costs include realtor commission (negotiable, often 4–5%), legal fees, mortgage penalties (if applicable), and moving costs. Some sellers also invest in staging and photography to boost sale price.

Investing in Real Estate

Q: What is the typical return on investment (cap rate) in Ottawa?
A: Cap rates in Ottawa are usually 4.5–6% depending on property type and area. Smaller multi-units (duplexes/triplexes) may see lower cap rates, while larger properties or those in areas like Vanier can offer higher returns.

Q: Can non-residents invest in Ottawa real estate?
A: Yes, but non-resident buyers must pay a 25% Non-Resident Speculation Tax (NRST) unless exempt. Financing also requires stricter conditions compared to Canadian residents.

Renting

Q: How much notice does a landlord need to give to end a tenancy in Ontario?
A: For personal use (landlord or family moving in), the landlord must give 60 days’ notice and pay one month’s rent as compensation. Other situations (like major renovations) may require different notice periods.

Q: Can Ottawa landlords ask for more than one month of rent up front?
A: No. In Ontario, landlords can only collect first and last month’s rent. Extra deposits (for pets, keys, etc.) are not allowed under the Residential Tenancies Act.