Planning for your dream home in Toronto starts with smart savings. Use our calculator to determine how much you need to save each month to reach your down payment goal.
Plan your path to homeownership
Leave blank to calculate timeline based on your available savings
Set up automatic transfers to a dedicated savings account on payday. This ensures you're consistently putting money aside before it can be spent elsewhere.
Review your monthly subscriptions and discretionary spending. Redirecting even $200-300 monthly can significantly accelerate your savings timeline.
Take advantage of programs like the Home Buyers' Plan (HBP) which allows you to withdraw up to $35,000 from your RRSP tax-free for your first home.
While saving, keep your money in a high-interest savings account or GIC to maximize growth while maintaining accessibility.
Consider a side hustle, freelancing, or asking for a raise. Additional income streams can dramatically shorten your savings timeline.
Regularly monitor your savings milestones. Celebrating small wins keeps you motivated on your journey to homeownership.
