10/30/2026
Ottawa will hand first-time buyers up to $50,000 on a new home. But almost everyone I talk to gets at least one of the rules wrong.
Three to get right. First, it is new construction only: new builds, substantial renovations, owner-built homes, co-op shares. Resale does not qualify, no matter what the listing ad implies.
Second, the GST goes out at closing and the rebate comes back after. On a $700,000 new condo in North Vancouver that is $35,000 out, then back. Plan your cash flow for the gap, or ask the builder early whether they will credit it at closing.
Third, "first-time buyer" is not a lifetime ban. The test is whether you LIVED in a home you owned inside a rolling five-year window. Owned one and rented it out the whole time? You were never disqualified.
The full breakdown, with real BC numbers and how this stacks with the FHSA and the Home Buyers' Plan: https://themortgageprofessionals.ca/ottawa-will-give-first-time-buyers-up-to-50000-here-is-what-it-actually-takes/
Buying your first new home? Book a free call and we will map the down payment, the rebate, and the mortgage as one plan: https://themortgageprofessionals.ca/book/