First-time home buyer resources in Ontario
First-time buyer programs have eligibility rules, limits and tax details that depend on your situation. Use the official federal and provincial resources below to check current requirements before making a plan.
Compare the FHSA and Home Buyers’ Plan rules
The First Home Savings Account and the Home Buyers’ Plan are federal programs with separate conditions. The Home Buyers’ Plan involves withdrawing eligible funds from an RRSP and has repayment rules. Whether either option fits depends on your eligibility, account history and tax circumstances.
Read the Canada Revenue Agency’s current pages and speak with a qualified tax or financial professional before contributing, withdrawing or coordinating programs. Do not rely on an old article or a general summary for a personal tax decision.
Check provincial and municipal land transfer tax rebates
Ontario and Toronto publish separate land transfer tax rules and rebate information. Review the current official eligibility criteria and have your lawyer calculate the amount for the property and agreement. A rebate should not be assumed until eligibility is confirmed.
Prepare your home search around total cost and must-haves
Set a comfortable monthly range, identify the features that are essential, and separate them from preferences. Include closing costs and ongoing expenses when comparing homes. If you are using a lender pre-approval, ask what assumptions and conditions it includes.
Search available listings and compare locations from the property address. Your budget and suitable areas may shift as you learn what inventory is currently available.
Get transaction-specific advice before acting
A real estate representative can help you understand property information and transaction steps within their role. A lawyer, lender and tax professional can answer questions specific to legal closing, financing and tax treatment.
Program rules change. This guide is a starting point, not financial, legal, mortgage or tax advice. Confirm current details with the relevant government agency and your own professional advisers.
Official resources
Check these primary sources for current rules and detailed requirements.
This guide provides general information and is not legal, tax, mortgage, investment or financial advice. Rules and eligibility may change. Confirm transaction-specific details with the relevant government agency and qualified professionals.
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