First Time Buyer Info

 

 

First Time Buyer Tips

10 Tips You Need To Know

Buying your first home can be overwhelming. Here’s our top 10 tips to help with the process

Establish How Much You Can Afford

Establish Your Wishlist

Find Someone Who Has Your Best Interests at Heart

Know Your Credit Score

Get Pre-Approved For a Mortgage

Be Clear With Expectations

Dig Deep During Home Inspections

First Time Buyer Tips

10 Tips You Need To Know

Buying your first home can be overwhelming. Here’s our top 10 tips to help with the process

Know Your Credit Score

Establish How Much You Can Afford

Get Pre-Approved For a Mortgage

Establish Your Wishlist

Be Clear With Expectations

Find Someone Who Has Your Best Interests at Heart

Dig Deep During Home Inspections

First Time Buyer Grants

Why Not Save Some Money?

As a first time buyer in Canada, you may be eligible for a government grant. Here’s a list of grants that are offered;

First-Time Home Buyer’s Tax Credit

This grant allows first-time home buyers to recover some of the costs associated with a purchase (Ex. legal fees, land transfer taxes, home inspection). With our current tax rates, the non-refundable credit is worth an estimated $750.

Land Transfer Tax Rebate

First time buyers in Ontario can qualify for a rebate equal to the full amount of their land transfer tax, up to a maximum of $4,000 ($4,475 in Toronto).

RRSP Home Buyer’s Plan

The RRSP Home Buyer’s Plan allows first time buyers to borrow up to $25,000 (tax-free) from their Registered Retirement Savings Plan (RRSP) for a down payment. If you’re purchasing with another person who is also a first time buyer, each of you can access $25,000 from RRSP’s for a total of $50,000. 

GST/HST New Housing Rebate

This rebate helps first time buyers recover some of the provincial part of the HST they paid to buy a house. To qualify, you must be buying a new or substantially renovated house from a builder. 

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