One of the most common questions I get from first-time buyers is this:Can you actually buy your first home in Ontario with just 5% down? The short answer is yes.But the real answer is a bit more nuanced. And that nuance is where most people get confused — or discouraged — too early. THE BIG MYTH A lot of people believe you need 20% down to buy a home. That’s not true. You only...
One of the biggest myths I hear all the time is: “You need a massive down payment to buy your first home.”That’s simply not true. There are several federal and provincial programs that can save first-time buyers tens of thousands of dollars — but most people don’t fully understand how they work, or whether they actually qualify. In this video, I’ll walk you through every major incentive,...
✅ 1. First-Time Home Buyers' Tax Credit (HBTC) Benefit: $10,000 non-refundable tax credit Tax savings: Up to $1,500 (based on 15% of $10,000) Eligibility: You (or spouse) didn’t own a home in the past 4 years ✅ 2. Home Buyers' Plan (HBP) Withdraw up to: $60,000 (NEW limit for 2024, increased from $35,000) From: Your RRSP, tax-free Repayment: Over 15 years, starting 2nd...
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