Featured Content

Ontario Help for First-Time Buyers 2021 Update

Ontario Financial Help for First-Time Buyers 2021 Update

As 2021 begins the Findlay Real Estate Team aims to provide support to Ontario First-Time Home Buyers during this time of uncertainty resulting from the ongoing COVID-19 pandemic. The Canadian Government has announced a few new programs in order to help and support Canadians during the crisis, and Sean Findlay Real Estate is here to help navigate a complicated market and maintain the highest standards of service for their clients. We work with key decision-makers year-round to drive legislative and regulatory changes that benefit Canadian housing and are pleased to provide summary of measures that can help you kickstart the year.

Help for Ontario First-Time Buyers – Important Links for 2021/2022

Despite the pandemic, the Canadian Real Estate Association (CREA) continued to promote the importance of  housing in Ontario to the government in 2020.  Our goal was to provide support to Ontario Home Buyers and also the Ontario First-Time Home Buyers looking to get into the market for 2021/2022. As a result, the following is a summary of some advocacy wins for REALTORS® and their clients.

  • the Ontario Home Buyers’ Plan (HBP) is a program that allows Ontario Home Buyers to withdraw up to $35,000 in a calendar year from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a related person with a disability.
  • the Home Buyers’ Amount (Home buyers’ tax credit) offers a $5,000 non-refundable income tax credit amount on a qualifying home acquired during the year. For an eligible individual, the credit will provide up to $750 in federal tax relief.
  • the First-Time Home Buyer Incentive offers eligible first-time home buyers 5 or 10% of a qualifying home’s purchase price to put toward a down payment through a shared equity mortgage with the Government of Canada.
  • the GST/HST new housing rebate allows an individual to recover some of the GST or the federal part of the HST paid for a new or substantially renovated house that is for use as the individual’s, or their relation’s, primary place of residence.

Please note: the federal government is constantly updating their website as new information is announced. Remember to check Canada’s official coronavirus webpage and CREA’s COVID-19 online hub to stay up to date. This article is for information purposes only and is not a substitute for professional advice. If you need professional advice you should consult a lawyer, accountant or other qualified professional.

 


Are Thinking About Selling Your Home? Contact Realtor Sean Findlay for a Buyers Consultation and Let’s Take The First Step To Get You Pre-Approved for a First Time Home Buyers Mortgage Mortgage


 

 

The article is now complete | Click To Return Findlay Real Estate Home Page 


 


Sean Findlay – Professional Realtor | Sales Representative | Digital Marketing Realtor
Proudly Serving Toronto & GTA | Mississauga, Brampton, Milton, Oakville, Burlington, Stoney Creek,  Hamilton, Grimsby, Niagara Region

CENTURY 21 Millennium Inc., Brokerage *
Office: 905-450-8300 | Toll Free Office Phone Number: 1-888-450-8301 | Fax: 905-450-6736

Toronto Office Located: 181 Queen St E Brampton, ON L6W 2B3 (by Appointment Only)
(Located conveniently at the border of Mississauga & Brampton – Major Intersection Steeles & Hurontario st. )

Stoney Creek Office Located: 280 Barton St, Stoney Creek, ON L8E 2K6 (by Appointment Only)

 

 

FindlayRealEstate

Recent Posts

Learn About Our Home Downpayment Assistance Program In Our Upcoming Zoom Seminar Series

Learn About Our Home Downpayment Assistance Program in Our Upcoming Zoom Seminar Series Are you…

3 days ago

Luxury Basement Apartment for Rent in Mississauga – 5900 Greensboro Dr

Luxury Basement Apartment for Rent in Mississauga – 5900 Greensboro Dr Looking for a modern,…

1 week ago

Canada’s New Mortgage Rules 2025: What Homebuyers Need to Know

Canada’s New Mortgage Rules 2025: What Homebuyers Need to Know Effective December 15, 2024, Canada…

2 weeks ago

2274 Chapman Court, Pickering – Featured Home For Sale!

Discover Your Dream Home in Pickering's Prestigious Brock Ridge Neighborhood Welcome to 2274 Chapman Court,…

2 weeks ago

Essential Upgrades to Boost Your Home’s Value Before Selling

When selling your home, strategic upgrades can significantly increase its market value and attract more…

2 weeks ago

How to Build and Improve Your Credit Score Before Buying a Home

When it comes to buying a home, your credit score can be one of the…

1 month ago

Welcome To FindlayRealEstate.ca | This website uses cookies.