What incentives exist for first-time buyers in 2025?
Quick Answer
Short answer: Key programs: FHSA, RRSP Home Buyers' Plan, and partial GST rebate on new builds under $450,000.
Detailed Explanation
Ottawa's First Home Savings Account (FHSA) lets you contribute up to $8,000 per year, to a $40,000 lifetime limit, and withdraw tax-free for a qualifying purchase. You can stack it with the RRSP Home Buyers' Plan (HBP), which allows $35,000 per buyer from RRSPs—repayable over 15 years.
Buying a new-construction home under $450,000? You may qualify for the federal GST new-home rebate worth up to 36% of the 5% GST. Alberta's absence of land-transfer tax is itself a major saving versus other provinces.
- Municipal programs vary—check with your city
- Some builders offer move-in incentives
- Energy-efficient upgrades may qualify for federal rebates
Disclaimer: This page is for general information only and does not constitute legal, financial, or real estate advice. Always verify details with a licensed Alberta REALTOR®, mortgage professional, or lawyer before making decisions. Buy in Edmonton assumes no liability for actions taken based on this content.
Tim Grover, RE/MAX Excellence • 780-288-5144 • 5607 199 Street NW, Edmonton, AB
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