Skip to Content

First Time Home Buyers

First Time Home Buyer TipsDitching the landlord and taking the leap into the realm of home ownership? While it can be frightening, consumers who have the resources to buy a home shouldn’t shy away from this type of financial decision. But you must be prepared and you much have the money to do so, or you may incur years of unavoidable debt.

With the help of your Realtor® or real estate representative, and some research, buying a home for the first time will be less daunting and complicated. The best thing you should do is to not rush into a decision and to prepare well ahead of time.

Here are some tips, guidelines and advice for those who are thinking of buying a home:

How much money could I receive?

The maximum amount of the refund is $2,000.

For example:

Cost of Home

Tax Payable

Tax Refund

Net Tax Payable

$100,000

$725

$725

$0

$200,000

$1,725

$1,725

$0

$300,000

$2,975

$2,000

$975

If the refund is claimed at time of registration, it may offset the land transfer tax ordinarily payable. If not claimed at registration, the refund may be claimed directly from the Ministry of Finance, within 18 months after the transfer. No interest is paid on this refund.

Do I qualify?

To get a refund of land transfer tax, you:

If you have a spouse, your spouse cannot have owned an eligible home, or an interest in an eligible home, anywhere in the world while being your spouse.


You must apply for a refund within 18 months after the date of the transfer.

Contact Us for more information.

Buying a home should be an exciting period for you, and while it seems complicated and difficult at first, prevailing through the challenges isn’t as hard as you think. With our help, you’ll make a great purchasing decision and be settled into a new property to call home.

Bookmark and Share
MLS®, REALTOR®, and the associated logos are trademarks of The Canadian Real Estate Association.

The listing content on this website is protected by copyright and other laws, and is intended solely for the private, non-commercial use by individuals. Any other reproduction, distribution or use of the content, in whole or in part, is specifically forbidden. The prohibited uses include commercial use, "screen scraping", "database scraping", and any other activity intended to collect, store, reorganize or manipulate data on the pages produced by or displayed on this website.
The information contained on this site is based in whole or in part on information provided by members of The Canadian Real Estate Association, who are responsible for its accuracy. CREA reproduces and distributes this information as a service for its members and assumes no responsibility for its accuracy.
This website is operated by a brokerage or sales person who is a member of The Canadian Real Estate Association.
REALTOR®, REALTORS®, and the REALTOR® logo are certification marks that are owned by REALTOR® Canada Inc. and licensed exclusively to The Canadian Real Estate Association (CREA). These certification marks identify real estate professionals who are members of CREA and who must abide by CREA's By-Laws, Rules and the REALTOR® Code. The MLS® trademark and the MLS® logo are owned by CREA and identify the quality of services provided by real estate professionals who are members of CREA.

The trademarks MLS®, Multiple Listing Service®, and the associated logos identify professional services rendered by REALTOR® members of CREA to effect the purchase, sale and lease of real estate as part of a cooperative selling system.
Trademark owned or controlled by The Canadian Real Estate Association. Used under license.

Trademarks owned or controlled by The Canadian Real Estate Association. Used under license.

The information provided herein must only be used by consumers that have a bona fide interest in the purchase, sale or lease of real estate and may not be used for any commercial purpose or any other purpose.

Information is deemed reliable but is not guaranteed accurate by TREB.


Alliston Office
367 Victoria St. East
Alliston ON  L9R1J7
(705) 435-4336
Real Estate License # 4750664