The dream of owning a piece of the GTA hasn’t faded, but the rules of the game have certainly shifted. As we move into 2026, Toronto’s real estate landscape is more nuanced than ever. Between updated 30-year amortization rules for first-time buyers and the recent adjustments to the City Building Fund levy, there is a lot of “fine print” to navigate before you get your keys.

At Sarkaria Sethi LLP, we often see first-time buyers focus entirely on mortgage rates while overlooking the legal safety nets that actually protect their investment. If you’re entering the market this year, here are three things you cannot afford to skip:

1. The Status Certificate (For Condo Buyers) In a “buyer’s market,” you might feel pressure to move fast, but never waive the review of a Status Certificate. This document tells us if the condo corporation is financially healthy or if a “special assessment” (a surprise bill for thousands of dollars) is lurking in the near future.

2. Understanding the New Rebates The good news for 2026? First-time buyer rebates for the Ontario and Toronto Land Transfer Taxes can still save you up to $8,475. However, eligibility is strict—especially regarding whether you or your spouse have owned property anywhere else in the world. We help ensure you’re claiming every dollar you’re entitled to.

3. The “Firm” Offer Reality With more inventory on the market, you have more leverage. Use it. Including a “Condition on Solicitor’s Review” in your Agreement of Purchase and Sale (APS) gives us a chance to fix drafting errors before they become legally binding.

Buying a home is likely the biggest financial decision of your life. Don’t let a “simple” paperwork error turn it into your biggest headache.