First-Time Home Buyer’s Guide
Buying your first home is a significant milestone, and I’m here to make the process smooth and rewarding.
As your trusted agent, I’ll guide you through every step and ensure you benefit from available programs and incentives designed for first-time buyers.
Incentives for First-Time Buyers
- First-Time Home Buyer’s Tax Credit (FTHBC): Receive a 15% tax credit on up to $5,000 in eligible home purchase costs (e.g., legal fees, land transfer taxes).
- Land Transfer Tax Rebates: Save on provincial and municipal land transfer taxes (amounts vary by location).
- First-Time Home Buyer Incentive: Access shared equity options to lower your mortgage payments.
- RRSP Home Buyers’ Plan (HBP): Withdraw up to $35,000 from your RRSP tax-free for a down payment.
Who Qualifies?
You’re eligible if neither you nor your spouse/common-law partner has owned and lived in a home in the year of purchase or the four previous years.*
Additional Perks for My Clients
- Mortgage Pre-Approval Assistance
- Free Pre-Moving Cleaning Service
- Free Moving Services*
- Post Sale Renovation Assistance*
Let’s make your dream of homeownership a reality.
Contact me today to get started!
Find Your First Home Using the smart listings search
* Some Conditions May Apply , Some Packages or Offers Can Not be Combined Together, Please Call for Details.
As of February 2025, the GST/HST New Housing Rebate remains a valuable benefit for first-time homebuyers in Ontario. This rebate allows eligible individuals to recover a portion of the federal Goods and Services Tax (GST) or the Harmonized Sales Tax (HST) paid on a new or substantially renovated home intended as their primary residence.
Key Details:
Federal Rebate: Homebuyers can receive a rebate of 36% of the GST paid on the purchase price of a new home, up to a maximum of $6,300. This applies to homes with a fair market value of $350,000 or less. For homes priced between $350,000 and $450,000, a partial rebate is available, phasing out at the $450,000 mark.
Ontario Rebate: In addition to the federal rebate, Ontario offers a provincial rebate of up to $24,000, which may be available even if the home’s purchase price exceeds $450,000.
Eligibility Criteria:
To qualify for the GST/HST New Housing Rebate:
Primary Residence: The home must be intended as your or a relation’s primary place of residence.
First-Time Homebuyer Status: You must not have owned a home or had an ownership interest in a home anywhere in the world.
Occupancy Timeline: You must occupy the home within a specific period after purchase, typically within nine months.
Application Process:
Forms: Complete and submit Form GST190, “GST/HST New Housing Rebate Application for Houses Purchased from a Builder,” along with any required provincial forms.
Documentation: Include copies of the purchase and sale agreement, proof of occupancy, and any other required documents.
Deadline: Applications must be submitted within two years from the date of possession. canada.ca
For personalized assistance and to ensure you maximize your rebate, consider consulting with professionals specializing in HST rebates, such as Rebate4U.
Please note that tax laws and rebate programs can change. It’s advisable to consult with a tax professional or the Canada Revenue Agency for the most current information.
