By Samantha Crowley, REALTOR® | Peterborough & Kawarthas
Thinking about buying a home in Peterborough? Read this before you make an offer.
After helping many buyers navigate this market, I can tell you this with confidence:
It’s not usually the house people regret.
It’s what they didn’t know before they offered.
Here are five things Peterborough buyers consistently wish they understood earlier and how you can avoid the same mistakes.
1. Your Deposit Is Not the Same as Your Down Payment
This is one of the biggest misunderstandings.
Your deposit is submitted within 24 hours of an accepted offer and shows the seller you’re serious. It forms part of your down payment, but it is not the full amount.
👉 The important part:
Your REALTOR® will guide you on what an appropriate deposit looks like based on the home, market conditions, and your situation.
A strong deposit can make your offer more competitive, but it should always feel comfortable and strategic for you.
2. Conditional Offers Protect You (And Your Deposit)
Many buyers worry that if they don’t move forward after making an offer, they will automatically lose their deposit.
That’s not true.
If your offer includes conditions like financing or a home inspection and you choose not to proceed during that conditional period, your deposit is typically returned to you.
👉 Conditions are there to protect you, not trap you.
The key is having the right conditions in place and understanding your timelines.
3. The List Price Doesn’t Always Reflect Market Value
A home listed at $599,900 does not necessarily mean it’s worth $599,900.
In Peterborough, some homes are priced:
- To attract multiple offers
- Based on recent comparable sales
- Or slightly under market value to generate interest
👉 This is where strategy matters.
Understanding true market value is what helps you:
- Avoid overpaying
- Stay competitive
- Feel confident in your decision
4. There Are Costs Beyond Your Down Payment
Many buyers focus only on saving for their down payment, but there are additional costs to plan for.
These can include:
- Legal fees
- Land transfer tax (Ontario)
- Home inspection
- Moving costs
- Adjustments (property taxes, utilities)
👉 A good rule:
Plan for an additional 1.5%–4% of the purchase price for closing costs.
Knowing this upfront helps you move forward without surprises.
5. The Right Strategy Matters More Than Speed
In a fast-moving market, it’s easy to feel pressure to act quickly.
But the buyers who feel the most confident long-term are the ones who:
- Understand their numbers
- Have a clear strategy
- Feel supported throughout the process
👉 It’s not about rushing.
👉 It’s about making informed decisions at the right time.
Final Thoughts
Buying a home is one of the biggest decisions you’ll make and it should feel exciting, not overwhelming.
The more you understand before you make an offer, the more confident and in control you’ll feel throughout the process.
💌 Thinking about buying in Peterborough?
I’d be happy to walk you through what to expect, answer your questions, and help you build a strategy that feels right for you.
👉 Reach out anytime
💌 Or subscribe to my newsletter for exclusive insights, tips, and local opportunities
https://samanthacrowley.ca/newsletter-sign-up
Helping you make confident, informed real estate decisions—every step of the way.
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