First Time Home Buyer’s Program

Purchasing a home for the first time is perhaps one of the most daunting experiences one will have, especially from a financial perspective.

In order to ease one’s first foray into the housing market, there are government programs in place that provide some financial relief in the form of rebates and tax refunds. Federally, the Government of Canada has the First-Time Home Buyer (FTHB) Tax Credit, and provincially, the Province of British Columbia and the Province of Ontario also have their own programs in place for first-time homebuyers.

So if it is your first time entering the housing market, make sure you take advantage of such programs if you are eligible – a dollar saved can go along way when purchasing your first home!

In Ontario, first-time homebuyers are eligible for a refund of the land transfer tax – a tax you pay when you buy land or an interest in land in the province of Ontario The maximum amount of the refund is $2,000. Find out if you and your home qualify for the Land Transfer Tax Refund for First-Time Homebuyers by clicking here.