First-Time Buyer

Learn who qualifies as a first-time buyer in Canada, what incentives are available, and how to benefit from programs that reduce the cost of buying a first home.

First-Time Buyer

May 22, 2025


What is a First-Time Buyer?

A first-time buyer is someone purchasing a home for the first time, or who qualifies as such under specific government programs and rebate rules.

Why First-Time Buyers Matter in Real Estate

In Canadian real estate, first-time buyers may access various financial incentives including land transfer tax rebates, the Home Buyers’ Plan (HBP), and the First-Time Home Buyer Incentive.


To qualify as a first-time buyer, you must:
  • Not have owned a home in the past 4–5 years (depending on the program)
  • Use the property as your principal residence
  • Be a Canadian citizen or permanent resident


Some programs have income or purchase price limits. Even if a spouse has owned property previously, buyers may still qualify under certain conditions.


Understanding first-time buyer status helps individuals and couples access savings and support that reduce the cost of purchasing a first home.

Example of a First-Time Buyer in Action

A first-time buyer receives a $4,000 land transfer tax rebate and withdraws $35,000 from their RRSP under the Home Buyers’ Plan to help with their down payment.

Key Takeaways

  • Applies to individuals purchasing their first home.
  • Grants access to rebates and incentives.
  • Must meet government eligibility rules.
  • Can reduce upfront and long-term costs.
  • Varies slightly between provinces and programs.

Related Terms

Additional Terms

Public Realm Improvements

Public realm improvements are enhancements to public spaces such as sidewalks, parks, plazas, and streetscapes, often funded or contributed by. more

Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

Green infrastructure refers to natural or engineered systems that manage stormwater, reduce heat, and improve sustainability in developments.. more

Escrow Holdback

An escrow holdback is a portion of funds withheld at closing and held in escrow until specific conditions are met, such as completion of repairs,. more

Underused Housing Tax

The Underused Housing Tax (UHT) is a federal annual 1% tax on the value of vacant or underused residential property owned by non-resident,. more

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