Making the decision to buy your first come is an exciting experience. Of course, buying a home can be a costly investment.

Fortunately, there are plenty of incentives for first-time home buyers in Ontario. If you’re in the market for your first home, consider these options, and let me help you take the first step to becoming a homeowner.

First-Time Home Buyers’ (FTHB) Tax Credit

The FTHB Tax Credit offers a $5000 non-refundable tax credit amount on qualifying homes. For eligible individuals, the credit provides up to $750 in federal tax relief.  

Home Buyers’ Plan (HBP)

The HBP is a program that will allow you to withdraw up to $25,000 from your registered retirement savings plan (RRSP) to buy or build a qualifying home.

GST/HST New Housing Rebate

First-time home buyers may be qualified for a rebate of part of the GST or HST that you would have paid on the purchase price of your new home.

Ready to get started? Let’s chat!