Everything a first-time buyer needs to know — FHSA, RRSP, deposits, the process, and where to start.
Pre-construction is uniquely well-suited to first-time buyers for three reasons: the deposit structure spreads your down payment over time instead of requiring it all at once; the home is brand new with no hidden problems and a Tarion warranty; and locking in today's price protects you from price increases while the home is being built.
Ontario's most affordable pre-construction markets start from $419,000 — within reach for many first-time buyers who have been priced out of the resale market in their target city.
The FHSA is the most powerful first-time buyer savings tool Canada has ever offered. Contribute up to $8,000 per year (lifetime max $40,000) and get a tax deduction on contributions plus tax-free withdrawals for a qualifying first home. A couple can contribute $16,000 per year combined — saving $40,000 each over 5 years for a combined $80,000 deposit, tax-free.
Open an FHSA as soon as you're eligible — even if you're not ready to buy yet. The contribution room accumulates from the date you open the account.
Withdraw up to $35,000 from your RRSP (tax-free) for a qualifying first home — or $70,000 for a couple. You repay over 15 years starting 2 years after withdrawal. Important: you must have had the funds in your RRSP for at least 90 days before withdrawal, so don't wait until the last minute to contribute.
First-time buyers in Ontario receive a land transfer tax rebate of up to $4,000 from the province. First-time buyers in Toronto receive an additional municipal rebate of up to $4,475. On a $500,000 home, this can save first-time buyers $6,000–$8,000 at closing.
18–24 months before buying
Open your FHSA and start contributing. Build your RRSP for the HBP. Start tracking the pre-construction market in your target city.
12 months before buying
Get a mortgage pre-approval. Understand how much you can borrow and how much you'll need in deposits.
Register with our team
Tell us your city, budget, and what you're looking for. We add you to VIP lists for upcoming launches that match your profile.
VIP Launch Day
Attend the VIP event with your agent. Choose your unit, floor, and exposure. Review incentives. Have your deposit cheque ready.
Sign the APS
Sign the Agreement of Purchase and Sale. Use your 10-day cooling-off period to have a lawyer review. Pay your first deposit.
Deposits over time
Pay remaining deposits on schedule (typically over 12 months). Deposits come from your savings, FHSA, RRSP, or combination.
Décor Centre
Choose your finishes. Stick to standard options to control costs, or upgrade selectively where it matters most.
Occupancy
Move in! Start the Tarion warranty clock. Submit your 30-day and year-end forms for any defects.
Final Closing
Finalize your mortgage, pay closing costs, take legal title. You're a homeowner.
| City | Condo From | Townhome From | Commute to Toronto |
|---|---|---|---|
| Grimsby | $419,000 | $629,000 | Highway / GO Expansion |
| Hamilton | $429,000 | $649,000 | 45 min GO train |
| Oshawa | $449,000 | $699,000 | GO Lakeshore East |
| Kitchener | $449,000 | $679,000 | 80 min GO Kitchener Line |
| Barrie | $469,000 | $699,000 | 90 min GO Barrie Line |
| Brampton | $459,000 | $799,000 | 40 min GO Kitchener Line |
| Mississauga | $549,000 | $779,000 | 30 min MiWay / GO |
Our service is completely free for first-time buyers. The builder pays our commission. We'll walk you through every step — from your first question to your PDI day — at no cost to you.
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