Found 2 blog entries tagged as incentives.

Incentives for First-Time Homebuyers

Despite recent softening in the housing market, home ownership in Canada is expensive and can be intimidating if you’re a first-timer. Luckily, there’s financial help and incentives for first-time homebuyers, which can help offset the cost of purchasing a new home. You don’t need to feel as if you have to do it all alone – read below to see what incentives are available.

Incentives for First-Time Homebuyers

Home Buyers’ Plan (HBP)

The Home Buyers’ Plan (HBP) offers an alternative way of securing funds for a down payment for first-time homebuyers. If you have a Registered Retirement Savings Plan (RRSP), you may withdraw up to $35,000 from the account to buy or build a qualifying home for yourself or a related person…

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First-Time Home Buyer Incentive

Over the last two years, a new trend has formed in many parts of the Canadian real estate market: investors accounting for a considerable portion of the broader housing sector.

Indeed, with many investors purchasing single-family homes, acquiring townhomes and scooping up condominium suites, a chance at home ownership has become a challenge for many first-time homebuyers. Moreover, in an environment with little supply, the competition for residential properties was exacerbated by individuals or corporations adding to their vast inventory of homes.

Public policymakers have tried to intervene, but industry experts maintain that the only real solution is to build more housing. Until then, it seems that the Bank of Canada’s…

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