07/29/2026
Most first-time home buyers have no idea how many programs are available to help them save money. And honestly, many Realtors never explain all of them.
These are real Canadian programs available in 2026 that could save you thousands when buying your first home.
đź“Ś First Home Savings Account (FHSA)
Contribute to your FHSA, receive a tax deduction, let your investments grow tax-free, and withdraw the money tax-free when you buy your first home. This is one of the best tools available to first-time buyers.
đź“Ś BC Property Transfer Tax Exemption
Eligible first-time buyers may qualify for a full or partial exemption from Property Transfer Tax, potentially saving thousands at closing.
📌 Home Buyers’ Plan (RRSP)
Eligible buyers can withdraw funds from their RRSP to purchase their first home without paying tax on the withdrawal, provided the funds are repaid over time.
đź“Ś GST Rebate on New Construction
Buying a qualifying newly built home? First-time buyers may be eligible for a significant federal GST rebate, reducing the overall cost of purchasing a new home.
📌 You Don’t Need 20% Down
One of the biggest misconceptions is that you need a 20% down payment to buy a home. Many qualified buyers can purchase with as little as 5% down.
Every buyer’s situation is different, and eligibility varies depending on the program. A good Realtor and mortgage broker should walk you through every option available before you start your home search.
🏡 Save this post for later, or send it to someone who’s thinking about buying their first home.
👉 Thinking about buying or selling a home in Vancouver, BC?
📲 Send me a DM and let’s chat about your goals.
🎥 Reel by Pitch Perfect Creative
