Updated 2026-10-16 · By CondoCircle
This is a policy update, dated October 16, 2026. For the full step-by-step process, read our first-time buyer roadmap. Here we focus on which rules are current, which are conditional and which we couldn't verify.
- CRA first-time buyer GST rebate: conditions include agreement on or after March 20, 2025
- FHSA and Home Buyers' Plan: CRA-administered
- Ontario-specific new-home measures: verify current status
Federal: first-time home buyers' GST rebate
The CRA publishes who can apply for the first-time home buyers' GST/HST rebate. Conditions include meeting the first-time buyer definition and an agreement of purchase and sale entered into on or after March 20, 2025, among others. Read the CRA page in full before relying on it.
Savings accounts
The First Home Savings Account and the RRSP Home Buyers' Plan can help fund a down payment. Each has contribution, withdrawal and eligibility rules on the CRA site.
Ontario measures
How to use this update with your advisors
Policy for first-time buyers has changed several times in recent years, and announcements often precede final rules. Treat any program as applying to you only once you've read the official page in force on your agreement date and your advisor has confirmed it. Keep a copy of the page you relied on, with the date.
- Collect — Save the CRA and Ontario pages you're relying on, with today's date.
- Confirm — Ask a tax professional whether you meet each definition.
- Reconcile — Ask the builder how the price treats each rebate.
- Document — Have your lawyer reflect the outcome in your agreement review.
Savings programs: FHSA, RRSP and the rest
First-time buyers in Canada commonly combine several programs: the First Home Savings Account (FHSA) for tax-advantaged saving, the RRSP Home Buyers' Plan for withdrawals from existing savings, and land transfer tax rebates where eligible. Each has its own definitions of 'first-time buyer', contribution or withdrawal limits, and repayment or timing rules.
The definitions matter more than the headlines. 'First-time buyer' can mean different things for the FHSA, the HBP and Ontario's land transfer tax rebate — you might qualify for one and not another. Confirm each definition against your history with the official program pages or a tax professional before counting the money.
What's different about buying new
New construction adds steps a resale purchase doesn't have: a deposit schedule spread over months, décor selections with deadlines, an occupancy period before final closing on some product types, and the Tarion warranty framework with its own timelines. It also adds the HST rebate question — Ontario's rebates are conditional, and Mattamy states its Ontario website prices include an estimated enhanced new housing rebate assuming the purchaser qualifies.
- Confirm your 'first-time buyer' status for each program separately
- Map the deposit schedule against your savings timeline
- Ask how the price treats each rebate — and what you owe if you don't qualify
- Budget for closing adjustments with their caps
- Plan for the occupancy period if applicable
Agreement due diligence
- Lawyer review before firm
- Rebate assumptions in price
- Closing adjustments and caps
- Tarion addendum critical dates
- Deposit schedule
Frequently asked questions
Does the CRA rebate apply to resale homes?
The CRA page describes conditions for new homes. Read it for current scope.
Can I use an FHSA for a Vicinity home?
If you meet FHSA rules, it can be used toward a qualifying home. Confirm with the CRA and your financial institution.
Is there a cooling-off period?
Condo cooling-off rules don't automatically apply to freehold homes. Get a lawyer review first.
Do first-time buyers pay HST on a new home?
New homes are subject to HST, but rebates can reduce the effective cost for eligible buyers. The Ontario enhanced rebate has conditions — confirm your eligibility with a tax professional.
Can I use my RRSP for a new-construction deposit?
The Home Buyers' Plan has withdrawal and timing rules that interact with deposit schedules. Confirm the timing works for your agreement with your financial institution.