First-Time Home Buyer? Here’s How to Save Up to $50,000 on Your New Home
- erin0582
- Jul 31
- 2 min read
Yes, it’s real money. And no, you don’t need to jump through hoops to get it.If you’re buying your first home in Canada
If you’re buying your first home in Canada, I’ve got great news: there’s a little-known rebate that could save you up to $50,000—and most people don’t even know it exists.
It’s called the First-Time Home Buyers’ GST Rebate, and it’s designed to help you keep more money in your pocket when you buy a brand-new home. Whether you're buying a condo in the city or a townhome in the suburbs, this rebate can seriously soften the financial blow.
🎯 What Is It?
When you buy a newly built home in Canada, you’re charged 5% GST on top of the purchase price. But if you're a first-time buyer, the federal government wants to help—and they’ll actually give you some (or all) of that tax back.
That’s right. You could get up to $50,000 rebated directly to you.
✅ Do You Qualify?
Here’s the quick checklist:
You’re buying a newly built home (not a resale)
It will be your primary residence
The price is $1 million or less for a full rebate (partial rebate up to $1.5 million)
You (or your spouse) haven’t owned property in the last four years
You’re a Canadian citizen or permanent resident
If all that sounds like you — you’re in luck.
How Much Can You Save?
Under $1M = Full rebate of 5% GST
$1M–$1.5M = Partial rebate, scaled down
Over $1.5M = Unfortunately, no rebate
Think about it like this: on a $900,000 brand-new home, that’s potentially $45,000 in savings just for qualifying.
Why Haven’t You Heard About This?
Honestly? It’s not widely advertised. And between the mortgage pre-approval, house hunting, and offer negotiations, most buyers never think to ask about tax savings.
That’s why I make sure my clients always know what’s available to them. Because savings like this? They matter.
So… How Do You Get It?
You can apply for the rebate through the Canada Revenue Agency (CRA), or if the builder handles it directly, it may already be included in the purchase agreement. Either way — it pays to ask.
And if you’re working with me, I’ll walk you through the entire process and connect you with a mortgage pro and lawyer who understand how to maximize every dollar you’re entitled to.
Let’s Chat — I’ll Help You Make It Happen
Buying your first home is a huge milestone, and you shouldn’t have to do it alone (or pay more than you need to).
Want to know if you qualify for the rebate? Or want help finding a beautiful new build under $1M in Greater Vancouver?
📩 Send me a message or DM and I’ll break it all down for you — no pressure, just real advice.
Erin Price Emery
Contact me: erin@priceemery.com
Call or text: 604-767-7725
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