Blog

Buying your first home in Ontario is an exciting milestone, but many first-time buyers are surprised by the additional expenses beyond the down payment. These are called closing costs and they’re an important part of budgeting when purchasing Sudbury homes.

Below, we’ll break down what closing costs you can expect, how much they typically are, and how first-time buyers in Sudbury can prepare.

What are closing costs when buying a home in Ontario?

Closing costs are the one-time fees and expenses you’ll need to pay on the day you officially take ownership of your new home. These costs usually range between 1.5% to 4% of the purchase price.

For example, if you’re buying a $400,000 home in Sudbury, closing costs could add up to $6,000–$16,000.

What closing costs should first-time buyers expect in Sudbury?

Here are the most common fees you’ll see:

• Land Transfer Tax (LTT): Ontario charges this tax on every home purchase, based on the property’s price. First-time buyers may qualify for a rebate of up to $4,000.

• Legal Fees: A real estate lawyer is required to finalize the purchase. Expect $1,000–$2,000.

• Title Insurance: Protects you from title fraud or ownership disputes, usually $250–$400.

• Home Inspection: Not mandatory but highly recommended. Typically $400–$600.

• Appraisal Fee: Sometimes required by your lender, around $350–$500.

• Adjustments: This covers prepaid property taxes or utilities that the seller has already paid, which you’ll need to reimburse.

• Other Miscellaneous Costs: Courier fees, admin fees, and HST (on certain services).

Do first-time buyers in Ontario get help with closing costs?

Yes! First-time buyers may be eligible for incentives such as:

• Ontario Land Transfer Tax Rebate (up to $4,000)

• First-Time Home Buyers’ Tax Credit (a federal non-refundable credit)

• RRSP Home Buyers’ Plan (HBP): Withdraw up to $60,000 (as of 2024) from your RRSP to put toward your down payment, which can free up more money for closing costs.

How can Sudbury homebuyers prepare for closing costs?

The best way to prepare is to budget early. When planning your purchase, set aside at least 2–3% of the home price for closing costs. A Sudbury realtor or mortgage advisor can help you estimate these numbers more accurately based on the property you’re buying.

Why is it important to understand closing costs before buying?

Many first-time buyers focus only on their down payment, only to feel stressed on closing day. By planning for these expenses in advance, you’ll avoid surprises and feel more confident moving into your new home.

Key Takeaway: When buying your first home in Sudbury, don’t forget to factor in closing costs. They typically add up to 1.5%–4% of the purchase price, but rebates and tax credits can help reduce the total.

📞 Want help navigating the process? Reach out to a local Sudbury real estate agent, such as Tanya Vanden Berg who can guide you through every step of buying your first home.

Purchasing your first home in Sudbury is exciting, but it’s also easy to make mistakes that can cost you time, money, or peace of mind. As a Sudbury realtor, I’ve seen common challenges that first-time buyers face — and the good news is, with the right preparation, you can avoid them.

Let’s break down the biggest first-time home buyer mistakes in Sudbury and how to steer clear of them.

What are the most common mistakes first-time buyers make in Sudbury?

Here are some pitfalls to watch for:

• Not budgeting beyond the down payment
  Many buyers forget about closing costs, inspections, moving expenses, and potential repairs. These can add up quickly.

• Skipping mortgage pre-approval
  Without pre-approval, you might fall in love with a home you can’t afford — or worse, lose out in a competitive market.

• Overstretching your budget
  It’s tempting to max out what the bank offers, but remember to leave room for lifestyle costs, maintenance, and rising interest rates.

• Waiving a home inspection
  In Sudbury, older homes often come with hidden issues. Skipping an inspection can lead to unexpected repair bills.

• Not working with a local Sudbury real estate agent
  Every neighbourhood is different. A Sudbury realtor knows market trends, schools, and hidden gems that buyers might miss.

Why do these mistakes matter for Ontario home buyers?

The Sudbury market is unique — with a mix of older character homes, student rentals, and new builds. A rushed or uninformed decision can mean overspending, buying in the wrong area, or facing expensive repairs. Avoiding these mistakes ensures you start your homeownership journey on solid ground.

How can first-time buyers avoid these mistakes?

✅ Get pre-approved early – Know exactly what you can afford before shopping.
✅ Work with a Sudbury realtor – Local knowledge matters when comparing houses for sale in Sudbury.
✅ Budget for more than the mortgage – Plan for insurance, utilities, and unexpected costs.
✅ Always get a home inspection – Protect yourself from surprises.
✅ Think long-term – Choose a home that fits your needs now and in the future.

Buying your first home is a huge milestone, but it doesn’t need to be overwhelming. By avoiding these common mistakes and leaning on professional guidance, you’ll make a smarter investment and enjoy the process.

📞 Ready to start your journey? Connect with a Sudbury real estate agent, such as Tanya Vanden Berg, who can guide you through every step — from browsing houses for sale in Sudbury to getting the keys in your hand.

If you already own a home in Sudbury and are ready to move, one of the biggest questions is: Should you sell first or buy first? Both options have advantages and risks, and the right choice depends on your finances, timeline, and comfort with risk.

Let’s break down what Sudbury home sellers and buyers should consider.

What are the benefits of selling before buying?

• More financial clarity: You’ll know exactly how much money you have from your sale before shopping for your next home.

• Stronger buying power: With cash in hand, you may be in a better position when negotiating on houses for sale in Sudbury.

• Less financial stress: No risk of carrying two mortgages at once.

What are the drawbacks of selling first?

• Temporary housing may be needed: If you can’t find your next home right away, you may need to rent or stay with family.

• Moving twice: Storage and extra moving costs can add up.

What are the benefits of buying before selling?

• No rush to move: You can transition smoothly from one home to the next.

• Pick the right home: You won’t feel pressured to buy quickly just to have a place to live.

What are the risks of buying before selling?

• Carrying two mortgages: This can be financially stressful if your current home doesn’t sell quickly.

• Bridge financing may be needed: Lenders can help cover the gap, but it comes with extra costs.

• Market shifts: If Sudbury homes slow down in sales, you could be stuck with two properties longer than planned.

How do you decide what’s right for you?

Ask yourself:

• Can I afford two mortgages if needed?

• Do I have a backup plan if my home doesn’t sell quickly?

• Am I comfortable moving twice if I sell before buying?

A trusted Sudbury realtor, such as Tanya Vanden Berg, can help you review your options, look at current market trends, and guide you to the best decision for your situation.

Key Takeaway: Selling before buying gives you financial security, while buying first offers convenience. The right choice depends on your risk tolerance, finances, and the pace of the Sudbury real estate market.

📞 Thinking of making a move? Let’s chat about your options and find the best strategy for your next step in Sudbury real estate.

Buying a home in Sudbury is exciting, but one of the first questions buyers ask is: “How much do I need for a down payment?” The answer depends on the price of the home, your mortgage type, and whether you’re a first-time buyer. Let’s break it down.

Minimum Down Payment Rules in Ontario

In Canada, the rules for down payments are the same across provinces, including Sudbury:

• 5% of the purchase price for homes under $500,000

• 5% of the first $500,000 + 10% of the portion above $500,000 for homes priced between $500,000–$999,999

• 20% minimum for homes priced $1 million+ (no CMHC insurance available)

👉 Example: If you’re buying a $450,000 home in Sudbury, your minimum down payment is $22,500 (5%).

How Much Do Most Buyers Put Down in Sudbury?

While the minimum is 5%, many Sudbury buyers aim for 10–20% if they can. Why?

• Lower monthly mortgage payments

• Avoiding mortgage default insurance (required if you put less than 20% down)

• Building equity faster

In Sudbury, where average home prices are often lower than in major Ontario cities, saving 20% may be more realistic than in Toronto or Ottawa.

Can First-Time Buyers in Sudbury Put Less Down?

Yes. As a first-time buyer, you only need 5% down if the home is under $500,000. But keep in mind:

• You’ll need to qualify with your income and credit score

• Less down = higher monthly payments

• You’ll pay CMHC insurance premiums, which get added to your mortgage

First-Time Home Buyer Programs in Ontario

To make saving easier, first-time buyers in Sudbury can use these programs:

• First-Time Home Buyer Incentive – a shared equity program with the federal government

• RRSP Home Buyers’ Plan – borrow up to $35,000 tax-free from your RRSP

• First Home Savings Account (FHSA) – save tax-free money specifically for your first home

How Much Should You Save?

Here’s a quick guide based on Sudbury’s price ranges:

• $300,000 home → Minimum down payment = $15,000

• $450,000 home → Minimum down payment = $22,500

• $600,000 home → Minimum down payment = $35,000 ($25,000 on first $500k + $10,000 on the remaining $100k)

• $800,000 home → Minimum down payment = $55,000 ($25,000 + $30,000)

If you’re buying in Sudbury, the minimum down payment could be as low as 5%, but aiming for 20% can save you thousands in the long run. The right amount depends on your budget, your long-term goals, and whether you qualify for first-time buyer programs.

Pro Tip: Talk to a local Sudbury realtor, like Tanya Vanden Berg and mortgage advisor early. They’ll help you figure out how much you really need and which programs you qualify for.

Looking for help buying your first home in Sudbury? Contact Tanya Vanden Berg, your local Sudbury realtor, for expert advice tailored to your goals.

If you’re thinking about selling your current home in Sudbury and moving to another, you might be wondering: What happens to my mortgage? The answer depends on the type of mortgage you have and the options offered by your lender. Let’s break it down so Ontario home buyers and sellers know what to expect.

Do I have to pay off my mortgage when I sell my home?

Yes. When you sell your home, the proceeds first go toward paying off your existing mortgage balance, plus any penalties or fees if you’re breaking your term early. The remainder is yours to put toward your next home purchase.

What are my options when selling with a mortgage in Ontario?

• Mortgage Porting (Transferring):
  Some lenders allow you to “port” your mortgage to your new home. This means you keep your current interest rate and terms, which can be helpful if rates have gone up.

• Paying Out and Starting Fresh:
  You can pay off your old mortgage when you sell and take out a brand-new mortgage on your next home. This works if you want different terms, a different lender, or need more borrowing power.

• Blended Mortgage:
  If your new home costs more and you’re porting, some lenders offer a blended rate (a mix of your old rate and the new one).

What if I break my mortgage early?

If you sell before your mortgage term ends, you might face a prepayment penalty. This could be:

• Three months’ interest, or

• An Interest Rate Differential (IRD), depending on your mortgage type.

Your lender can calculate the exact amount, and it’s important to factor this into your selling costs.

How does this affect first-time buyers upgrading in Sudbury?

Many Sudbury homeowners start with a starter home, then move up as their needs grow. If you’re upgrading, knowing your mortgage options can save you thousands. Talking to both your lender and a Sudbury real estate agent will help you line up the timing and financing smoothly.

Key takeaway for Sudbury home sellers and buyers

When you sell your Sudbury home, your mortgage doesn’t simply disappear — it must be paid off, transferred, or renewed in some form. The good news is there are flexible options, and with the right planning, you can transition to your next home without unnecessary stress.

📞 Thinking about selling and buying in Sudbury? Let’s review your options and make sure your mortgage works for you in your next move.

Tanya Vanden Berg | Broker of Record

705-618-4663

[email protected]

As we head into spring, Northern Ontario’s real estate market is heating up. With more buyers entering the market, bidding wars are making a comeback. If you’re preparing to buy a home, you’ll need to craft a smart offer that stands out from the rest. Today, we're sharing five strategies to help you win in multiple-offer situations.

1. Consider an Unconditional Offer

Sellers love certainty, and the fewer conditions in your offer, the stronger it looks. While going unconditional can be risky, you can protect yourself with pre-inspections, solid financing approval, and backup funds in case of appraisal gaps.

2. Think Carefully About “Love Letters”

Buyer letters can sway sellers when two offers are very close, but they’re controversial and even banned in some regions due to fairness concerns. In some cases, they may help—but they can also backfire.

3. Increase Your Deposit

A larger deposit shows commitment and financial strength. While $5,000 is a baseline, putting down $10,000–$20,000 or more signals to sellers that you’re serious about closing.

4. Be Flexible With Closing Dates

Sometimes sellers prioritize timing over price. Offering flexibility—whether a quick closing or extra time for them to move—can give your offer the edge.

5. Stay Flexible on Terms & Chattels

It’s not always about price. Sellers may want to take appliances, hot tubs, or even unique items. Showing flexibility on inclusions can make your offer more attractive in a tight competition.

Bottom Line: In a competitive market, it’s not always the highest price that wins. It’s the offer that gives sellers the most confidence and convenience.

If you’re planning to sell your home—or just want to boost its comfort and long-term value—choosing the right upgrades is key. On the TNT Real Estate Podcast, Tyler and Tanya shared the top five home improvements in 2025 that deliver the most impact for Northern Ontario homeowners. Here’s what made the list:

1. Kitchen Renovations

The heart of every home, kitchens continue to drive value. Focus on modern countertops (quartz or granite), updated hardware, and functional layouts with plenty of drawers. Avoid overspending for your neighborhood—balance style with return on investment.

2. Bathroom Upgrades

Bathrooms sell homes. Heated tile floors, stylish vanities, and modern showers are strong value-adds, but always keep at least one bathtub in the house for families with young children.

3. Outdoor Living Spaces

Post-2020, backyards became sanctuaries. Patios, decks, gazebos, and even outdoor kitchens extend your square footage and appeal to buyers who want more than just indoor space.

4. Garages and Storage

A garage is one of the most requested features in Northern Ontario. Whether attached or detached, heated or basic, it provides storage for vehicles, toys, and seasonal gear—making it a high-value improvement.

5. Finished Basements

Adding livable square footage pays off. Turn an unfinished basement into a rec room, guest suite, or multipurpose space. Buyers love the flexibility and families appreciate the extra room to spread out.

Pro Tip: Pools can be a lifestyle upgrade, but they don’t always add significant resale value unless you plan to enjoy them for years first.

By focusing on these five areas—kitchens, bathrooms, outdoor living, garages, and basements—you’ll improve your home’s value while making it more functional for everyday living.

Buying your first home is a big milestone, but what if that home could also pay you back? On this week’s TNT Real Estate Podcast, Tyler and Tanya break down why your first property should ideally be income-producing.

Tyler shared his own experience: he and his wife bought a bungalow that was perfect for a duplex conversion. With just $10,000 in renovations, they added a basement suite and their first tenants were covering the entire mortgage. They essentially lived for the cost of utilities—a game-changer that allowed them to save for their next property.

This strategy, often called house hacking, works in multiple ways:
✅ Buy a duplex or triplex and rent out the other units
✅ Convert part of a single-family home into a legal rental suite
✅ Rent extra bedrooms to friends or family
✅ Consider co-ownership with trusted partners to break into the market

Beyond monthly savings, an income property also helps build equity faster and can even improve your mortgage qualification since lenders may count part of the rental income.

With more cities (like Hamilton) offering forgivable loans and incentives for adding secondary units, and zoning changes opening the door for triplexes or fourplexes, first-time buyers in places like Sudbury have more opportunities than ever to start smart.

If you’re planning to buy your first home, consider making it an income-producing property—it could be the stepping stone to building long-term wealth.

Unlocking Your Home's Potential: Navigating the Real Estate Market with Confidence

In today’s ever-changing world, real estate remains one of the most reliable ways to build wealth, find security, and create a home for yourself and your family. Whether you’re buying your first home, selling to move up, or investing for the future, understanding the market and making informed decisions is key to success.

Is Now the Right Time to Buy or Sell?

With all the talk of rising interest rates and market fluctuations, many people wonder whether it’s the right time to make a move. The truth is, every market comes with opportunities—you just need to know how to find them.

For Buyers: Mortgage rates have been unpredictable, but right now, they’re still within a range where locking in a good rate is possible. Inventory has loosened up in many areas, giving buyers more choices. Plus, with homes staying on the market a bit longer, there’s often room to negotiate.

For Sellers: Home prices remain strong, and if you’re thinking of selling, now could be a great time. With the right strategy—pricing, staging, and marketing—you can get your home sold for a great price. Homes that are well-prepared and priced correctly still attract serious buyers.

Simple Ways to Make Your Home Stand Out

If you’re planning to sell, first impressions matter. The goal is to make your home as appealing as possible to potential buyers. Here’s how:

• Declutter and Simplify: It’s hard for buyers to imagine themselves in a space that feels too personal or cluttered. By clearing out excess furniture, personal items, and décor, you make it easier for buyers to picture the home as theirs.
• Focus on Key Rooms: Kitchens and bathrooms sell homes. Make sure these spaces are spotless and, if necessary, make minor upgrades like new hardware or fresh paint. Small improvements can go a long way.
• Use Professional Photography: Most buyers start their search online, so high-quality photos (and videos or virtual tours) are essential. Bright, professional images will help your listing stand out from the rest.

The Importance of a Local Expert

Buying or selling a home is about more than just numbers. It’s about finding the right neighborhood, understanding local trends, and making choices that fit your life and goals. That’s where working with a local real estate expert makes all the difference.

I’ve spent years working in the Sudbury real estate market, and I know the ins and outs of every neighborhood, school district, and upcoming development. Whether you’re looking for a family-friendly community or the next great investment opportunity, I’m here to guide you with personalized advice and local insight.

What’s Next for Real Estate?

Looking ahead, the real estate market will continue to evolve. Buyer preferences are shifting, with more interest in energy-efficient homes and spaces designed for modern living. If you’re considering new construction or thinking about how to make your current home more attractive to today’s buyers, staying ahead of these trends is important.

Ready to Make Your Move?

Whether you’re buying your first home, selling to move up, or investing in real estate, having the right strategy is key. I’m here to help you every step of the way, with experience, local knowledge, and a commitment to your success.

Reach out today to schedule a personal consultation. Together, we can turn your real estate dreams into reality.

New Mortgage Refinancing Program: A Game-Changer for Homeowners and the Housing Market

The federal government recently announced a new mortgage refinancing program to help address Canada’s housing shortage by encouraging homeowners to build secondary suites. Starting January 15, 2025, Canadians can refinance up to 90% of their home’s value to add self-contained rental units. Here’s what you need to know.

What This Means for Homeowners

• Refinance up to 90% of your home’s value: Use the funds to build secondary suites.
• Create additional income: These units can be rented out long-term, helping you offset rising mortgage costs.
• Flexible terms: A maximum 30-year amortization makes payments more manageable.
• Limit of 4 units: You can add up to four self-contained suites per property.

This program is especially beneficial for homeowners looking to generate rental income or for seniors wanting to age in place while creating a steady income stream.

Impact on the Real Estate Market

• More affordable rentals: The addition of secondary suites will increase rental supply in high-demand areas, helping ease the housing crunch.
• New investment opportunities: Investors can capitalize on this program by creating multi-unit properties, boosting long-term rental income without buying additional land.

This initiative could help balance the housing market by increasing the availability of affordable homes while offering financial relief to homeowners.

The Bigger Picture: Unlocking Vacant Land

Along with the refinancing program, the government is exploring ways to develop vacant land and underused federal properties. This could lead to more housing being built, further easing supply issues.

The Power of Staging: Why It’s Essential for Selling Your Home

When it comes to selling your home, first impressions matter. In today’s competitive real estate market, one of the most effective ways to make your property stand out is through professional staging. Staging isn’t just about decorating; it’s about showcasing your home’s full potential and helping buyers envision themselves living there.

Why Staging Matters

1. Create a Lasting First Impression Most buyers make a decision about a property within the first few minutes of seeing it. A well-staged home is inviting and visually appealing, helping buyers form an emotional connection. Staging highlights the best features of your home, from spacious rooms to cozy nooks, making a powerful first impression that can lead to a quicker sale.

2. Make Your Home Look Larger and Brighter Strategically placed furniture, lighting, and decor can make rooms look more spacious and bright. This is especially important in smaller homes or spaces where potential buyers may have a hard time visualizing the full potential. By decluttering and arranging furniture properly, staging helps buyers see how the space can work for their lifestyle.

3. Help Buyers Picture Themselves Living There When buyers see personal items like family photos, they may have trouble picturing themselves living in the home. Staging removes the personal and neutralizes the space, allowing buyers to imagine their own life in the home. This is key to creating an emotional connection that motivates them to make an offer.

4. Highlight Your Home’s Strengths Every home has unique selling points, whether it's a spacious kitchen, a beautiful backyard, or modern finishes. Staging focuses on these strengths while downplaying any less desirable features. By directing attention to what makes your home special, you’re positioning it to appeal to the widest range of buyers.

Does Staging Really Pay Off?

Yes! Research consistently shows that staged homes sell faster and often for a higher price compared to non-staged homes. In fact, a well-staged home can increase its perceived value, giving you an edge in negotiations. With staging, you’re investing in maximizing the return on your property.

Simple Staging Tips You Can Try

If professional staging isn’t in your budget, here are a few simple tips to make your home look its best:

• Declutter: Clear out excess furniture and personal items to make the space feel open and inviting.
• Neutralize: Use neutral colors for walls and décor to appeal to a wide range of buyers.
• Brighten Up: Open blinds, add light fixtures, and use mirrors to create a bright, welcoming environment.
• Focus on Key Rooms: Prioritize staging the kitchen, living room, and master bedroom—these are the rooms that tend to matter most to buyers.

Why You Should Move to Sudbury, Ontario: A Hidden Gem in Northern Ontario

If you’re searching for a place that combines natural beauty with economic opportunity, look no further than Sudbury, Ontario. Often referred to as the “City of Lakes,” Sudbury offers a unique mix of outdoor adventure, affordability, and a strong sense of community. Having lived here for over 20 years, I can say this city has so much to offer—and it’s only getting better.

My Journey from Montreal to Sudbury

Originally from Montreal, I moved to Sudbury thinking it would be a temporary stop. Little did I know, this city would become my home. Over time, I’ve come to love the charm, the friendly people, and the endless opportunities that Sudbury provides. It’s a growing city with incredible potential, and I see even more on the horizon in the upcoming years.

Why Sudbury is a Great Place to Live

1. Affordable Housing Sudbury’s housing market is one of its biggest draws. With real estate prices far more affordable than in bigger cities like Toronto or Montreal, it’s an ideal place for first-time homebuyers or those looking to invest. Whether you’re looking for a family home or a cozy lakeside cottage, Sudbury offers a wide range of affordable options.

2. Access to Nature and Outdoor Adventure Sudbury is surrounded by natural beauty. With over 330 lakes within the city limits, there’s no shortage of outdoor activities. You can swim, boat, hike, or skate, depending on the season. Kivi Park and the Lake Laurentian Conservation Area offer endless trails for those who love to explore. It’s the perfect place for anyone who wants to live close to nature while still enjoying city conveniences.

3. A Growing Job Market Sudbury’s economy continues to grow, particularly in sectors like healthcare, education, and mining. With employers like Vale and Health Sciences North, the job market is diverse and expanding. It’s an exciting time for professionals looking to build a career in a city that’s full of opportunities.

4. Strong Sense of Community One thing that stands out about Sudbury is its close-knit community. People here are welcoming, friendly, and always willing to lend a helping hand. Whether you’re attending a local event, shopping at the farmers' market, or getting involved in community initiatives, you’ll quickly feel a part of something bigger.

5. Ideal for Families Sudbury is a fantastic place to raise a family. With excellent schools, plenty of parks, and endless outdoor activities, it offers a balanced lifestyle. The slower pace of life, combined with the city’s amenities, makes it a great environment for kids and parents alike.

6. A Hub for Arts and Culture Sudbury isn’t just about nature—it also has a thriving arts and culture scene. From the Cinefest Sudbury International Film Festival to live performances at the Sudbury Theatre Centre, there’s something for everyone. You’ll never run out of things to do, whether you’re an art enthusiast or just looking for some weekend fun.

Sudbury’s Future: Full of Potential

Sudbury has come a long way since I first arrived, and it’s exciting to see where it’s headed. With ongoing development, new businesses, and a growing population, I see a lot of potential in this city over the next few years. It’s becoming a hub for both young professionals and families looking for a fresh start in an affordable, vibrant community.