The honest answer? It depends on three key factors: your timeline, your financial readiness, and your lifestyle needs. Neither renting nor buying is universally superior. In the Greater Toronto Area's 2025 market, with home prices down 4.3% year-over-year and mortgage rates at their lowest since 2022, both options present distinct advantages depending on your circumstances. In this guide, our team at Nave Real Estate breaks down the real costs, timing considerations, and decision frameworks to help you determine which path aligns with your situation.

The journey breaks down into distinct phases: completing your education (3-12 months depending on full-time versus part-time study), passing exams and getting registered with RECO (2-4 weeks), finding the right brokerage (1-4 weeks), and landing that crucial first deal (2-6 months after licensing). Some dedicated individuals finish the education in as little as three months, while others take a full year studying part-time around existing commitments.

Getting a mortgage in Canada follows a clear 7-step process that typically takes 4-6 weeks from pre-approval to closing. Whether you're a first-time buyer, a newcomer to Canada, or have unique circumstances, understanding this roadmap helps you navigate the journey with confidence.