Updated 2026-10-16 · By CondoCircle
Buying new is different from buying resale: you sign long before you move in, and the agreement does a lot of the work a home inspection would do on a resale. This roadmap walks a first-time buyer through a new-home purchase at a community like Vicinity, in order.
The sequence
- Budget and pre-approval — Talk to a lender about how a future closing date affects your approval and rate hold.
- Shortlist and price — Use the floor plan library and request the current price list.
- Reserve and sign — Confirm the deposit schedule and get the agreement reviewed by a lawyer.
- Décor selections — Choose finishes and upgrades; confirm costs and payment timing.
- Construction and updates — Track critical dates in the Tarion addendum.
- Pre-delivery inspection — Walk the home with the builder and record items.
- Closing and possession — Pay balance and adjustments; receive keys.
Savings programs worth asking about
First-time buyers may be able to use a First Home Savings Account (FHSA) or the RRSP Home Buyers' Plan, and may qualify for certain land transfer tax refunds or GST/HST rebates. Each program has its own conditions; none is universal. Confirm with the official CRA pages and your advisor.
Your protections on a freehold low-rise home
Ontario new homes are covered by the statutory warranty administered by Tarion, and builders must be licensed with the HCRA. Condominium-specific rules, such as the condo cooling-off period, don't automatically apply to freehold homes — so have your lawyer review before the agreement becomes firm.
Build your team
| Professional | Role |
|---|---|
| Mortgage professional | Pre-approval, rate holds, closing-date planning |
| Real estate lawyer | Agreement review, title, closing |
| Tax advisor | Rebate and program eligibility |
| Registration agent | Current pricing, plans and appointment coordination |
The sequence that avoids expensive mistakes
The order of operations matters more than most buyers expect. Financing first: a real pre-approval (not an online estimate) tells you your ceiling before you fall in love with a model. Then the savings programs: confirm FHSA, HBP and rebate eligibility before you count them in your budget. Then the home search, then legal review of the agreement during any cooling-off or review period that applies.
- Pre-approval — Get a written pre-approval and understand its expiry and rate-hold terms.
- Program check — Confirm first-time buyer status separately for FHSA, HBP, land transfer tax rebate and HST rebates.
- Shortlist — Compare total costs across two or three real options, new and resale.
- Legal review — Have a lawyer review the agreement, including adjustments and caps, before you're committed.
- Cash calendar — Map every deposit and closing cost against your accounts and program timelines.
Traps first-time buyers hit at new communities
- Counting a rebate you don't qualify for — the price may assume an estimated ENHR you must repay if ineligible.
- Budgeting the deposit but not the closing adjustments.
- Assuming the décor allowance covers the upgrades you actually want.
- Letting a pre-approval expire during a long construction wait.
- Signing before a lawyer has reviewed the agreement.
Eligibility questions to settle early
- Have I or my spouse owned a home before (for each program's definition)?
- Will this be my primary residence?
- Does the price assume rebates I may not qualify for?
- Will my pre-approval still apply at closing?
Frequently asked questions
Can I buy a new home at Vicinity as a first-time buyer?
Yes, anyone who meets the builder's and lender's requirements can buy. Specific rebates and programs have their own eligibility rules.
Do I get a cooling-off period?
Condominium cooling-off rules don't automatically apply to freehold homes. Ask your lawyer to review before signing or to include a review condition.
What warranty applies?
New Ontario homes are covered by the statutory warranty administered by Tarion. See tarion.com for coverage details.
How much do I need saved before visiting a sales centre?
Enough for the first deposit instalment plus a cushion — but get pre-approved first so you know your real ceiling.
Do I need a lawyer before signing?
Strongly recommended. A lawyer should review the agreement, adjustments and caps before you're bound.