Five programs, most buyersonly know two.
These five programs stack together and can save you over $137K on your first home. Here is exactly how each one works.
HST Rebate on New Builds
Federal + provincial rebate on newly constructed homes used as a primary residence.
- Applies to new builds used as your primary residence. Builders now advertise the price with the full HST rebate already applied, so the number you see is the price if you qualify.
- What it is worth: the full 13% HST (federal 5% + Ontario 8%) on the pre-tax price. On a $700K advertised home, that is $91,000 the builder has already taken off.
- If you do not qualify: the price goes up. You keep only the regular new-housing rebates, so that same $700K home becomes about $767,000 for a non-first-time buyer and $791,000 for an investor.
- You must qualify and assign the rebate to the builder at closing. Program window: April 1, 2026 – March 31, 2027.
First Home Savings Account
Tax-deductible contributions. Tax-free withdrawals. The best of both worlds.
- Save up to $8,000/year, $40,000 lifetime per person.
- Contributions reduce your taxable income, so you get a tax refund each year.
- Withdrawals for your first home are completely tax-free.
- Open one at any major bank today. The clock only starts when you open it.
RRSP Home Buyers' Plan
Withdraw from your RRSP tax-free. Pay it back over 15 years. No interest.
- Withdraw up to $60,000 per person from your RRSP without paying tax.
- Couple? Both withdraw, up to $120,000 combined.
- Repay over 15 years, starting in year 2 after withdrawal. No interest.
- Stacks with FHSA: use FHSA first, then tap RRSP for the rest.
First-Time Home Buyer Tax Credit
A flat $1,500 non-refundable tax credit claimed on your return the year you buy. No application needed.
- Non-refundable credit on $10,000 of home-buying costs, worth up to $1,500.
- Claim on your tax return the year you buy. No paperwork beforehand.
- Available if you haven't owned a home in the past 4 years.
- Max $1,500 per home purchase. Spouses split one credit, not two.
Ontario Land Transfer Tax Rebate
Money back on closing day, applied automatically by your lawyer. Zero paperwork.
- Ontario charges LTT on every home purchase. First-time buyers get the first $4,000 back.
- Your real estate lawyer applies it automatically at closing.
- Example: $700K home → $10,475 LTT → you save $4,000 → you pay $6,475.
- Max $4,000 per property. Apportioned between buyers by share. Not doubled for couples.
Your total savings,combined.
This is the full stack of value you unlock as a first-time buyer in KW.
The 4 stepsto your first home.
You know what you can save. Now walk through the process from pre-approval to keys in hand. Every month you wait is another month of rent you never get back.
What waiting isactually costing you.
Your parents say wait. Your coworkers say wait. None of them are running the numbers on what waiting actually costs. Let's run them.
YOUR SITUATION
WHAT WAITING COSTS YOU
What's yourminimum down payment?
Canada's tiered system: 5% on the first $500K, 10% on the portion from $500K–$1.5M, 20% minimum above $1.5M. Under 20% triggers CMHC insurance.
YOUR INPUTS
YOUR NUMBERS
What you actually payon closing day.
Land transfer tax, legal fees, home inspection, title insurance. First-time buyers get $4,000 back on LTT automatically.
YOUR INPUTS
YOUR CLOSING COSTS
What $550K / $650K / $750Kactually buys in KW.
Most first-time buyers get pre-approved, see a number, and start scrolling through hundreds of listings with no frame of reference. Here is what each price point actually looks like in KW right now.
- Condos and stacked townhomes in emerging neighbourhoods
- Modern finishes, close to transit and LRT
- Great starter for solo buyers
- Low maintenance, often includes amenities
- Freehold townhomes in established areas
- Semi-detached with backyards
- No condo fees eating into your budget
- Sweet spot for couples starting out
- Detached homes in established neighbourhoods
- Bigger lots, double garages
- Areas most first-time buyers don't think they can touch
Know your market,then build the offer.
Months of inventory tells you who has leverage. Check this before writing any offer.
The 5 Offer Variables
Purchase price
Anchored to the market. If priced low for an offer review date, factor that in.
Match the seller's close
Matching timing gains you leverage. Sellers value certainty.
Condition on financing
Bank approves you AND the property. Usually 5 business days.
Condition on inspection
$400–$600, 3 hrs. Covers roof, furnace, foundation, plumbing.
Status cert (condos)
Reserve fund + fee outlook. Reviewed by your lawyer, not your agent.
Three conditionsthat protect you.
Never waive these on your first purchase.
Financing
The bank approved you for a dollar amount. They still need to approve the specific property. If it's not habitable, financing falls apart.
5 BUSINESS DAYSHome Inspection
Budget $500. Three hours. They'll tell you every issue they can find. For your first home on anything that isn't a condo, don't skip this.
~$5003 HOURSStatus Certificate
A 200–250 page document. Condo corp financials, reserve fund, fee outlook. Your lawyer reviews it, not your agent.
CONDOS ONLYLAWYER REVIEWSThe 30–45 daysbetween firm and keys.
The awkward gap between "I got the house" and "I have the keys." Here's what happens.
Week 1–2 after firm: Visits + measurements
2–3 visits. Measure floors, pick paint, plan furniture layout. Get quotes for any work you want done on day one.
Week 2–3: Insurance + utilities
Arrange home insurance (required by lender). Set up utility transfers for closing day: hydro, gas, water, internet.
Week 3–4: Lawyer handoff
Lawyer pulls title, prepares closing docs, confirms funds. You sign closing paperwork a few days before the date.
12–48 hours before closing: Final walkthrough
Walk the property. Confirm everything in the agreement is still there and functioning.
Closing day: Keys released
Usually 12 PM – 5 PM. Lawyer emails the lockbox code, you grab the keys. Your house.
Let's run thesenumbers together.
Click the link below this video to book a free consult call. Bring your pre-approval or come with questions. Either way, you leave with a clearer path to your first home.
