If you’re thinking about buying a house in 2026, you’re not alone. Believe it or not, entering the real estate market is actually a fairly common New Year’s resolution.
With that in mind, if you’re hoping to kick off your house hunting journey come January, you’ll want to get started now. There’s a lot that goes into buying a house, so the more time you give yourself to prepare, the better.
If this sounds intimidating, don’t worry – we’re here to help. As real estate agents, we love educating buyers about the ins and outs of house hunting and guiding them toward their ultimate goal of owning a home.
That’s why we’ve created this all-in-one checklist for buying a house in 2026. Follow along and you’ll be holding the keys to your new home in no time.
Searching for your dream home? Explore Bosley Real Estate’s featured listings.
Getting Started
Buying a house is unlike any other type of purchase you’ll make in your lifetime. Not only will you be house hunting in a dynamic and constantly evolving market, but there are also all kinds of variables and third parties involved that can impact what you’re able to buy.
With that in mind, there will be a few steps you’ll need to take before you start looking at properties in person.
Building Your Budget
You can’t start house hunting until you know what you can afford. So, it’s time to build your budget.
Get Your Finances in Order
It’s time to take stock of your finances and overall health. If you’ll be buying with another person, such as your partner or spouse, they’ll need to do this too. Look at your monthly current income, existing savings, any debts you’re paying off (like student loans), and any other major expenses that you manage regularly.
It’s also a good idea to check in on your credit health and credit score – lenders will be looking at these numbers when deciding what to offer you towards a mortgage.
Apply For Mortgage Pre-Approval
Once you’ve got all your financial information in one place, it’s a good idea to apply for a mortgage pre-approval. When you do this, a lender will go over your financial details and decide how large a mortgage they’re willing to offer you, giving you a solid idea of what you can afford to spend on a house.
Plus, already being pre-approved for a mortgage can give you a leg up when you place an offer on a property you love, as it shows the seller you’re financially capable of making the purchase.
Don’t Forget Closing and Moving Costs
As you build out your home buying budget, don’t forget to account for some of the other big costs that come with it. For instance, closing costs, land transfer taxes, homeowner’s insurance, and moving expenses can add up in a hurry.
Know What You’re Looking For
Once you have a solid understanding of your financial power, it’s time to sit down and work out what you do and don’t need from your new home. Even if you think you have a rough idea in your head about what your ideal home looks like, putting pen to paper can make your house-hunting experience much simpler.
Create a List of “Must Haves”
Start with the basics. Write out what you absolutely need to have in your next home. This could be a minimum number of bedrooms, bathrooms, or any other specific features that come to mind.
Identity First Choice Neighbourhoods
If you want to find a place that really feels like home, choosing the right neighbourhood will be just as important as choosing the right house. Make note of any communities you’re particularly interested in, as well as any essential characteristics your future neighbourhood needs, like great schools, transit options, or commutability.
Hire a Realtor
As you narrow down what your dream home looks like, you’ll want to find a Realtor who can take your wish-list and introduce you to properties that check as many boxes as possible. Look for real estate agents with years (ideally decades) of experience. If they buy and sell a lot of homes in your preferred neighbourhoods, even better!
On the hunt for more home buying advice? Check out these blog posts next!
- What Conditions Should You Include in Your Buying Offer?
- Can You Buy a Home Without an Agent?
- Is it Time to Stop Renting and Buy Your First Home?
Making an Informed Purchase
Now it’s time to start looking at for-sale homes and going to open houses or showings. This process can be a lot of fun, but it’s important not to rush the process or get carried away when you find a house that feels like “the one”.
Ask the Right Questions
If you’re serious about buying a particular home, you’ll want to ask several important questions to ensure you know what you’re buying. Here are a few to get you started:
- How long has the house been on the market?
- Have any major repairs or renovations been made? If so, when?
- Has the property ever been impacted by water damage, pest infestation, or other issues?
Ask For an Inspection
When you’re ready to place an offer to purchase, don’t forget to include a home inspection condition. This allows you to get the house professionally analyzed before the deal goes through. If any major issues come up, you’ll be able to renegotiate.
Be Ready to Negotiate
There’s a good chance that there will be some back and forth between you and the seller after you’ve placed an offer. Negotiations can be tense, so you’ll want to be ready when the time comes. If you can, be available for fast communication if your Realtor calls.
Buy With Bosley Real Estate
If you’re searching for a real estate team that can help you find a great home, look no further.
Bosley Real Estate has helped Canadians find the perfect home for close to a century. Today, our advanced buying systems, client-first approach to service, and vast industry relationships can help you build a thoughtful home-buying roadmap, leading to a smooth and successful home purchase.
Ready to buy your next home? We can help! Give us a call at 416-322-8000 or email info@bosleyrealestate.com to get in touch.
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