Simply Real Estate

The stats are here. As expected to see in spring, prices are up, sales are up, but this year, listings are up! There are more listings through March of 2026 than we saw in 2025, and not as many sales. This is good news for buyers who may be less likely then they were in 2025 to be in competition with multiple buyers for the same house.

The 'skinny' on the first-time buyer new home GST rebate.

The Feds have just announced a GST rebate for first-time home buyers of new homes and substantially renovated (gutted) homes, valued up to $1,000,000, capped at $50,000.

Homes up to $1,500,000 can qualify; however, with diminishing rebates, that is, if the home is worth $1,250,000, the maximum rebate is only $25,000. At $1,100,000, the maximum rebate would be $40,000, as I understand it.

A first-time home buyer is someone who has not lived in a home that you, your spouse, or common-law partner owned, or jointly owned, whether in or outside of Canada, as your primary place of residence at any time in the calendar year or in the previous four calendar years

The First-time Home Buyers’ (FTHB) GST/HST rebate applies to houses purchased from a builder where the agreement was entered into on or after March 20, 2025, and before 2031, and construction is substantially completed before 2036.

You have up to 2 years from the date ownership or possession of the house was transferred to you to claim your rebate.