We hear all kinds of stories out there about buying a house. Some still think that you need the 20% of the sale price as your downpayment. You DO NOT need 20% down, however if you do it is very good as your mortgage payments will be lower and you will save on the CMHc fees. This could certainly be beneficial in the long term.
You can still buy a home in Ottawa with only 5% down. In my opinion it is better to buy with the 5% down than waiting to get the 20%. It could take you a long time to be able to save up the 20% and the price of homes will have increased by that time.
Feel free to share this video with anyone who's been talking about buying a house.