First-Time Home Buyer

Here are just a few incentives of being a first-time home buyer:

  • If you have an RRSP, you are allowed to borrow up to $35,000 to put towards your down payment. You now have the privilege of replenishing these funds over 15 years, tax free
  • Make use of the first-time home buyer’s tax credit by claiming up to $5000 on your tax
    return in the year of purchase
  • Qualify for a GST / HST new housing rebate for a purchase price up to $450,000
  • In Toronto, first-time home buyers can take advantage of a land transfer tax rebate up to a maximum of $4000
  • Some municipalities offer down payment assistance programs. Contact us for more
    details in your area.