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The complete guide for first-time home buyers in Canada
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Real Estate
The complete guide for first-time home buyers in Canada
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By Erin Pepler and Justin Dallaire on July 8, 2024Estimated reading time: 17 minutes
Buying your first home is an exciting experience, but it can also be an overwhelming one—especially if you’re not sure where to start. That’s why we’ve outlined some simple steps that anyone shopping for a home should take, from figuring out what you can actually afford to getting pre-approved for a mortgage and understanding the government programs designed to help you. If you have questions, we have the answers in our complete guide for first-time home buyers.
Table of contents (click to expand)
The cost of buying a home in Canada
The down payment
The deposit
Closing costs
First-time home buyer programs and rebates
The first home savings account
The Home Buyers’ Plan
The First-Time Home Buyer Incentive
The Home Buyers’ Tax Credit
Land transfer tax rebates
How mortgages work in Canada
What is a mortgage?
How fixed and variable mortgage rates work
Best mortgage rates in Canada
Lender vs…
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