$60K
RRSP withdrawal (HBP)
$40K
FHSA lifetime limit
$4K+
Land transfer rebate
$1.5K
Tax credit rebate
First-Time Buyer Programs
These programs can save you tens of thousands of dollars. You can combine multiple programs for maximum benefit.
First Home Savings Account (FHSA)
Best of RRSP + TFSA combinedThe newest program! Contribute up to $8,000/year ($40,000 lifetime). Contributions are tax-deductible and withdrawals for your first home are tax-free.
Official detailsHome Buyers' Plan (HBP)
Limit increased from $35,000 in 2024Withdraw up to $60,000 from your RRSP tax-free for your first home. Couples can withdraw up to $120,000 combined. Extended 5-year grace period before repayment.
Official detailsFirst-Time Home Buyers' Tax Credit
Claim $10,000 on your tax return for a rebate of up to $1,500. Can be split between spouses.
Official detailsOntario Land Transfer Tax Rebate
Up to $8,475 total in TorontoFirst-time buyers in Ontario get a rebate of up to $4,000. In Toronto, an additional municipal rebate of up to $4,475 is available.
Official detailsRecent Changes for First-Time Buyers
The federal government has introduced several new measures to help first-time buyers get into the market.
30-Year Amortization
First-time buyers can now access 30-year amortizations on insured mortgages, lowering monthly payments.
Higher Insured Mortgage Cap
The insured mortgage limit increased from $1M to $1.5M, allowing 5% down payments on higher-priced homes.
GST Relief on New Builds
First-time buyers can recover up to $50,000 in GST on newly built homes valued up to $1.5M.
Helpful Resources
Additional guides to help you prepare for homeownership.
Aug 15, 2026
New Construction vs. Resale in Kitchener-Waterloo
The real differences between new construction and resale aren't about first impressions — they're about deposits, HST, timing, warranty, and risk. Here's the honest side-by-side for KW buyers.
Aug 12, 2026
What Is a Stacked Townhome? Pros, Cons & Fees
Stacked townhomes are one of Waterloo Region's fastest-growing home types. Here's what they are, how the fees and ownership work, and who they're perfect for.
Aug 8, 2026
First-Time Home Buyers' GST Rebate: Pay $0 GST in 2026
The new federal First-Time Home Buyers' GST Rebate can wipe out the 5% federal GST on a qualifying new home — up to $50,000 in savings. Here's who qualifies and how it changes the math on a new build in Waterloo Region.
Ready to Start Your Journey?
Let us help you find your first home in Kitchener-Waterloo. We'll guide you through every step of the process.
Moving from out of town? Check out our relocation guide