Up to $50,000 in Tax Savings for First-Time Buyers on New Homes
Buying your first home just got a little easier — and a lot more affordable.
The federal government has announced a new GST rebate for first-time home buyers that could save you up to $50,000 on the purchase of a newly built home. The goal? To reduce the upfront costs of buying and to accelerate new home construction across the country.
How It Works
If you’re a first-time buyer, you’ll now benefit from:
- A 100% GST rebate on new homes priced up to $1 million
- A phased-out rebate on homes priced between $1 million and $1.5 million
- For example, a $1.25 million home would qualify for a 50% rebate (up to $25,000)
- No rebate applies to homes priced over $1.5 million
Who’s Eligible?
To qualify as a first-time home buyer under this program, you must:
- Be 18 years or older
- Be a Canadian citizen or permanent resident
- Not have owned a home — or lived in a home owned by a spouse or partner — in the current or past four calendar years
The rebate applies if you:
- Purchase a new home from a builder
- Build a home on land you own or lease
- Buy shares in a co-op housing corporation
What This Means for You
This rebate could put thousands of dollars back in your pocket — and for many buyers, it could mean qualifying for a higher budget or moving up their timeline.
At Orbis, we’re ready to help you take full advantage of this new incentive. Our mortgage brokers are equipped to guide first-time buyers through the rebate process and find a lending solution that fits.
Let’s talk. Whether you’re buying your first home or working with first-time buyers, Orbis is here to support you.
