For buyers
Buy a condo in North York, one step at a time
A North York condo purchase follows the same rules as any purchase in the City of Toronto, plus a few that belong to condominiums alone. This page sets out the steps and the published rules behind each.
The steps
What a North York condo buyer works through
Each step below rests on a rule published by a government body or by the Condominium Authority of Ontario. Program limits change, so check the current figures before you rely on them.
- Step 01
Check the minimum down payment
Federal rules set the floor: 5% of the price up to $500,000, then 5% of the first $500,000 plus 10% of the part above it for a home under $1.5 million. At $1.5 million or more the minimum is 20%. A down payment under 20% typically needs mortgage loan insurance.
- Step 02
See which savings programs you can use
A First Home Savings Account gives $8,000 of participation room in the year you open your first one, up to a $40,000 lifetime limit. The Home Buyers' Plan lets you withdraw up to $60,000 from an RRSP and repay it over 15 years. The Canada Revenue Agency says both can be used for the same home.
- Step 03
Add both land transfer taxes
North York is inside the City of Toronto, so a condo buyer there pays the Ontario land transfer tax and the City of Toronto municipal land transfer tax. A qualifying first-time buyer can receive an Ontario refund of up to $4,000 and a City rebate of up to $4,475.
- Step 04
Choose an area and a condo type
Line 1 and Line 4 of the subway both have stations in North York. Our twelve neighbourhood guides say which TRREB communities each area covers. The listing pages split condo apartments from condo townhouses.
- Step 05
Read the status certificate
The status certificate is the condominium corporation's report on the unit and the building. It includes the budget, the last audited financial statements, a statement on the reserve fund, the unit's common expenses and any special assessments. Have a lawyer review it.
- Step 06
Confirm the details with professionals
A mortgage professional confirms what you can borrow. A lawyer confirms the taxes, the refund and rebate and the status certificate. We answer questions about North York condos and can book a showing.
Guides and tools for each step
- The North York condo buying guide goes through every step in full, with sections for first-time buyers and for people moving from a house into a condo.
- The mortgage calculator shows the minimum down payment and an estimated payment at a rate you enter.
- The Toronto land transfer tax calculator adds the Ontario tax and the City tax at any price.
- North York condo prices lists TRREB figures by district, each with its period and sales count.
- Listings: condo apartments for sale and condo townhouses for sale in North York.
- Buying from a builder is a different process. The North York pre-construction condo guide covers it.
Where to look
North York condo neighbourhoods
Each guide names the TRREB communities it covers and the subway stations nearby. The neighbourhoods page explains how the areas were drawn.
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N° 01 Yonge and Sheppard Condo towers around the Line 1 and Line 4 interchange at Sheppard-Yonge station. Yonge and Sheppard condos -
N° 02 Yonge and Finch Condos and houses side by side north of Finch station, the Line 1 terminus. Yonge and Finch condos -
N° 03 Willowdale and North York Centre High-rise condos along Yonge Street between Sheppard and Finch, with three Line 1 stations. Willowdale and North York Centre condos -
N° 04 Bayview Village Condo apartments and condo townhouses along three Line 4 Sheppard stations. Bayview Village condos -
N° 05 Don Mills Condo apartments beside streets of houses, with Line 5 Eglinton stops on Eglinton Avenue East. Don Mills condos -
N° 06 Don Mills and Sheppard Condo towers around Don Mills Station, the east end of Line 4 Sheppard. Don Mills and Sheppard condos -
N° 07 York Mills Mostly houses, with a small number of higher-priced condos and Line 1 at York Mills Station. York Mills condos -
N° 08 Yorkdale Condo apartments and townhouses beside Yorkdale Shopping Centre, with Line 1 stations along the area. Yorkdale condos -
N° 09 Downsview Park Condo townhouses and apartments near a station that joins Line 1 to the Barrie GO line. Downsview Park condos -
N° 10 Flemingdon Park A tower community where almost every sale is a condo apartment, beside Line 5 Eglinton. Flemingdon Park condos -
N° 11 Yonge and Lawrence Mostly houses, with a small number of condos near Lawrence Station on Line 1. Yonge and Lawrence condos -
N° 12 Bathurst and Sheppard Condo apartments in Clanton Park and houses in Bathurst Manor, with Wilson and Sheppard West stations on Line 1. Bathurst and Sheppard condos
Condo buyer questions
What does a buyer pay in land transfer tax on a North York condo?
Two taxes, because North York is part of the City of Toronto: the Ontario land transfer tax and the City of Toronto municipal land transfer tax. Both use graduated rates that reach 2.0% on the part of the price from $400,000 to $2,000,000. Our calculator works out both.
Who qualifies for the first-time buyer refund and rebate?
In general a buyer who is at least 18, is a Canadian citizen or permanent resident, has never owned a home or an interest in a home anywhere in the world and moves in within nine months. A spouse must not have owned a home while being the buyer's spouse. Confirm your own case with a lawyer.
What is in a condo status certificate?
The Condominium Authority of Ontario lists the declaration, by-laws and rules, the current budget and last audited financial statements, a statement on the most recent reserve fund study, the common expenses for the unit and any arrears, increases and special assessments, the insurance certificate and outstanding judgments and litigation.
How much does a status certificate cost and how long does it take?
A condominium corporation can charge up to $100 including all applicable taxes and must provide the certificate within 10 days. Anyone can request one.
Can a buyer use a 30-year amortization?
Since December 15, 2024 a 30-year amortization on an insured mortgage has been open to all first-time homebuyers and to all buyers of new builds. The price cap for an insured mortgage is $1.5 million. Ask a mortgage professional what applies to you.
What changed for the Home Buyers' Plan in 2026?
For a first withdrawal made between January 1, 2026 and December 31, 2028, the 15-year repayment period starts in the fifth year after the year of the withdrawal. The Canada Revenue Agency gives the example of a 2026 withdrawal with repayment starting in 2031.
General information. This page is not legal, tax or mortgage advice. Confirm the rules for your own purchase with a lawyer, an accountant and a mortgage professional. Program limits come from the Government of Canada, Ontario, the City of Toronto and the Condominium Authority of Ontario and can change.
Questions about a North York condo?
We answer questions about North York condos and can book a showing.