New Builds - Still the Best Option for First-Time Home Buyers

Oct 7

3 min read

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The Winston by CreekWest is a 3 bed, 3 bath + bonus room & triple garage expertly designed family home. Highlighting that first time homebuyers are not limited to starting out in the suburban condo market. — The Winston by CreekWest is a 3 bed, 3 bath + bonus room & triple garage expertly designed family home. ***Highlighting that first time homebuyers are not limited to starting out in the suburban condo market.***

Buying your first home is a huge milestone — exciting, overwhelming, and full of decisions! 🎉 If you’re a first-time home buyer, one of the smartest moves you can make is considering a new build home. Not only do new homes come with modern features, energy efficiency, and low maintenance, but they also often qualify for the GST/HST New Housing Rebate, giving you extra savings.

What Is the GST/HST New Housing Rebate?

When you purchase a brand-new home, the price includes sales tax (GST or HST). The GST/HST rebate is a government program that gives you a portion of that tax back. For first-time buyers, this rebate can make the home buying process more affordable and give you extra cash for moving, furniture, or decorating your new space.

Why First-Time Buyers Should Consider New Builds

New builds aren’t just about shiny appliances and modern layouts — they come with several benefits for first-time home buyers:

Lower maintenance: Everything is brand new, so fewer repairs in the first few years.
Energy efficiency: New homes often include better insulation, windows, and energy-saving systems.
Customization options: Some builders allow buyers to choose finishes and layouts.
Rebates and incentives: Programs like the GST/HST New Housing Rebate help first-time buyers save money.

Only 5% Down for First-Time Buyers

One of the biggest hurdles for first-time buyers is saving for a down payment. The good news? If you’re a first-time home buyer, you may only need 5% down to buy your home, instead of the standard 20%.

This lower down payment option makes new builds much more accessible, allowing you to get into your first home sooner. Pair this with the GST/HST rebate, and buying your first home can feel much more achievable than you might expect.

Who Qualifies for the GST/HST Rebate?

You may be eligible for the rebate if:

You’re buying a newly built home (not a resale).
It will be your primary residence (not a rental or vacation home).
Your home price is below a government-set limit.

The rebate gives you a portion of the tax you paid back, making your first home purchase more affordable.

How to Claim the GST/HST Rebate

Getting your rebate is simpler than it sounds:

Ask your builder – Many builders apply for the rebate for you and include it in the purchase price.
Fill out the form – If not, use Form GST190 from the Canada Revenue Agency.
Submit your paperwork – Include proof of purchase and supporting documents.

Tips for First-Time Home Buyers

Keep all paperwork organized to make the process smooth.
Check if your province offers additional rebates for new builds.
Take advantage of the 5% down payment program to reduce up front costs.
Consult your realtor or lawyer if you’re unsure about anything.

Bottom Line

New builds are still the best option for first-time home buyers. They offer modern features, low maintenance, energy efficiency, and financial perks like the GST/HST rebate and 5% down payment options. By taking advantage of these programs, first-time buyers can enjoy a smoother, more affordable path to homeownership — and start their new chapter with a little extra cash in their pocket.