First Time Home Buyers Guide Ontario 2026

Government Programs

Money Available to First-Time Buyers

If you're buying your first home in Ontario, you have access to several valuable government incentive programs. These can meaningfully reduce your upfront costs and increase your purchasing power. Sonia walks every first-time buyer through each of these programs to ensure you're not leaving money on the table.

First Home Savings Account (FHSA)

Federal Program

The FHSA is the most powerful new tool available to first-time buyers in Canada. Introduced in 2023, it combines the tax benefits of an RRSP and TFSA in a single account specifically designed for homeownership.

Annual contribution limit: $8,000
Lifetime contribution limit: $40,000
Contributions are tax-deductible
Withdrawals for home purchase are tax-free
Unused room carries forward

RRSP Home Buyers' Plan (HBP)

Federal Program

The Home Buyers' Plan allows eligible first-time buyers to withdraw funds from their RRSP tax-free to put toward a home purchase. As of 2024, the withdrawal limit was increased — making this an even more attractive option.

Withdraw up to $35,000 per person
Couples can withdraw $70,000 combined
Repay over 15 years (2-year grace period)
No income tax on withdrawal for qualifying purchase
Can be combined with FHSA

Ontario Land Transfer Tax Rebate

Provincial + Municipal

Ontario charges Land Transfer Tax (LTT) on all real estate purchases. First-time buyers receive a rebate of up to $4,000 on the provincial LTT. Toronto buyers also pay a Municipal LTT, with a separate rebate of up to $4,475 available for first-timers.

Provincial LTT rebate: up to $4,000
Toronto Municipal LTT rebate: up to $4,475
Toronto first-timers can save up to $8,475
Applied at time of closing
Must be a Canadian citizen or PR

Sonia's Process for First-Timers

You'll Never Feel Lost

Education First

Before anything else, Sonia sits down with you — in person or virtually — to walk through the entire process. Terminology, timelines, costs, and what to expect at every step. No jargon. No rushing. You'll understand exactly what you're getting into before you commit to anything.

Mortgage & Budget

Sonia connects you with trusted mortgage professionals who specialize in first-time buyers. You'll get pre-approved, understand your true budget (including closing costs and land transfer tax), and enter the search with realistic expectations and real buying power.

Curated Property Search

Rather than flooding your inbox with MLS alerts, Sonia curates a selection of properties based on what you actually need. She'll tell you honestly why a property is or isn't right for you — protecting you from the emotional traps that first-time buyers are particularly vulnerable to.

Offer Guidance

When you're ready to make an offer, Sonia explains every single clause in plain language. She advises on deposit, conditions, price strategy, and what to include to protect yourself. You'll sign with confidence — not anxiety.

Inspection & Conditions

Sonia coordinates a thorough home inspection with a certified inspector. If the report reveals issues, she helps you interpret them, quantify costs, and decide whether to renegotiate, request repairs, or walk away. She's seen every type of property condition — nothing will surprise her.

Closing & Beyond

Sonia coordinates with your real estate lawyer through closing, ensuring no details are missed. After you have the keys, she remains available for questions — referrals to trades, neighbourhood advice, or just a question about what you noticed in the inspection report. She's your resource, not just your broker.

Start Your Journey

Ready for a First-Timer Consultation?

Whether you're six months out from buying or ready to start tomorrow, the best time to talk to Sonia is before you start searching. She'll help you avoid the most common first-time buyer mistakes, maximize your government incentives, and build a realistic plan for homeownership in the GTA.