10/25/2026
GTA first-time buyers, 2026 brought real help 🏡
If you’ve been renting and wondering whether a first home is honestly within reach, here is the full stack of incentives on the table right now, and most of them can be combined:
🔑 First Home Savings Account (FHSA): Save up to $40,000 for your down payment. Contributions are tax-deductible and withdrawals for your first home are tax-free.
🔑 Home Buyers’ Plan: Withdraw up to $60,000 from your RRSP ($120,000 per couple), repayable over 15 years. It stacks with the FHSA, so a couple can shelter up to $200,000 of down payment room.
🔑 NEW First-Time Home Buyers’ GST rebate: Purchase a newly built home and get the 5% federal tax back, up to $50,000 on homes up to $1 million (it became law this March).
🔑 Ontario matches it: The province rebates its 8% share of the HST on new builds too, up to $80,000. Together, that’s up to $130,000 back on a new home under $1 million.
🔑 Land transfer tax refunds: Receive up to $4,000 back from Ontario, and Toronto buyers get up to $4,475 more from the city, $8,475 in total.
🔑 Home Buyers’ Amount: Receive a $10,000 tax credit worth about $1,400 back at tax time.
🔑 And first-time buyers can stretch an insured mortgage over 30 years, which brings the monthly payment down.
The honest fine print: The big HST rebates are for new construction only. The old federal shared-equity “First-Time Home Buyer Incentive” no longer exists. And Peel’s Home in Peel down payment program is currently suspended, so if a city program is part of your plan, let’s verify its status together before counting on it.
Of course, none of this replaces a good mortgage broker and real estate lawyer, and helping you build that team is part of my job.
If you’re renting in Oakville, Peel, Hamilton or Toronto and want to know what you actually qualify for, my DMs are open. No pressure, just a plan 🤍
Talia, the Mindful Realtor
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