Buying your first home is a major milestone, and starting here in May 2025, the path to homeownership just got easier. Thanks to a new federal incentive, eligible first-timers can now access a GST Rebate for First-Time Home Buyers of up to $50,000 when purchasing a newly built home. Whether you’re dreaming of your first cozy townhome or an expansive …
First-Time Home Buyers: Know About the First Home Savings Account (FHSA)
As a first-time home buyer, there are many obstacles, from today’s housing prices to rising interest rates. In an effort to assist potential homebuyers, the federal government has introduced the First Home Savings Account (FHSA). This new tax-free registered plan allows you to contribute up to a lifetime limit of $40,000 towards the purchase of a qualifying first home. What …