The minimum down payment you need to purchase a house in Canada is 5% of the property’s purchase price or market value. If the property is sold at $250,000, for example, you will need at least $12,500 saved up to pay the down payment. See the “Selecting a Mortgage” article for more information.
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Welcome to DesignMyMove where you'll find step by step guidance and tips that make a difference for your move. Not sure where to start? Here's a few sections to get you started:
Our section directed at students. Covers leasing and staying in residences.
Our section aimed at first time buyers or renters.
Our section aimed at families or individuals looking to purchase a first home.
This section covers everything related to selling an old home and moving to a bigger one.
This section is directed at those looking to downsize or move to a smaller home or retirement home
Got some questions about your move? Visit our question and answers section here.