Everything You Need to Buy
Your First Home in Canada
From saving your first dollar to getting your keys — ClearDoor gives every Canadian first-time buyer the tools, programs, and guidance to buy with confidence.
Your Homebuying Roadmap
Most first-time buyers follow these six steps. Click any to jump in.
Learn Government Programs (FHSA, HBP, Rebates)
Canada offers thousands in tax savings. Most first-time buyers don't claim everything they're entitled to.
Build Your Down Payment
Learn the minimum you need, the accounts to use, and how to save faster — even on a tight income.
Calculate What You Can Afford
Use our stress-test affordability calculator to find your real maximum — including CMHC and closing costs.
Browse New Builds & Pre-Construction
Explore hundreds of new construction projects across Canada — filter by city, price, type, and occupancy date.
Search All Listings
Search resale homes across Canada via Realtor.ca with all your filters pre-applied instantly.
Close With Confidence
Follow our 40-item interactive checklist so nothing falls through the cracks on closing day.
Everything in One Place
New Builds Hub
Browse & compare new construction projects across Canada with maps and filters.
Financial Programs
FHSA, RRSP HBP, First-Time Buyer tax credits, and provincial rebates.
Market Guide
Seasonality, price drivers, city tiers, and a complete closing cost breakdown.
Saving Tips
Down payment strategy, savings hierarchy, and a timeline calculator.
Rent vs Buy
Interactive break-even calculator to find what makes sense for your situation.
Calculators
Mortgage, CMHC, land transfer tax, and affordability — all in one place.
Checklist
40+ interactive checklist items across 4 phases from prep to closing.
Glossary
Every real estate term explained in plain English — searchable and filterable.
Ottawa City Plans
Interactive Official Plan & zoning maps — see future developments and land use designations.
New Construction Projects
Across Canada
Browse pre-construction and move-in ready new homes from top builders. Filter by city, price, occupancy date, and type. Compare projects side by side.
What Every Buyer Must Know About New Construction
10-Day Cooling Off (Ontario)
After signing a new condo agreement in Ontario, you have 10 days to cancel for any reason. Always have a lawyer review before this window closes.
Expect Delays of 1–3 Years
Builder delays are extremely common. Your mortgage rate hold expires long before occupancy. Budget for bridge financing and rate uncertainty.
Tarion Warranty (Ontario)
1-year defects, 2-year systems (water/heat/electrical), 7-year major structural. Deposits up to $100K protected if builder becomes insolvent.
HST on New Homes
New Ontario homes include 13% HST. Builders usually include the rebate — verify this explicitly in your Agreement of Purchase and Sale.
Uncapped Development Charges
Some contracts allow builders to pass on development charge increases — potentially adding $20K–$60K to your final closing price. Always negotiate a cap.
Upgrades Are Overpriced
Builder upgrades carry 30–50% margins. Price-compare with third-party quotes. Do upgrades yourself after closing to save significantly.
Government Programs That Put
Money Back in Your Pocket
Canada offers thousands in grants, tax credits, and tax-free savings for first-time buyers. Here's every program — fully explained.
First Home Savings Account (FHSA)
The most powerful homebuying tool in Canada
Contributions are tax-deductible (like an RRSP) AND withdrawals are completely tax-free (like a TFSA). Open one today even if you're years from buying — room builds from the year you open it.
Contribution Room
Up to $8,000/year. Unused room carries forward by $8,000 — max $16,000 in one year if you missed last year.
Per Person, Tax-Free
$40,000 per person. A couple can access $80,000 combined — all completely tax-free on withdrawal.
In Your Pocket
At a 33% marginal rate, an $8,000 contribution returns ~$2,640 as a tax refund. Reinvest that to compound your savings cycle.
The Clock Starts on Open
Room accumulates from the year you open the account — not from contributions. Open with even $1 to start the clock immediately.
Home Buyers' Plan (HBP)
RRSP Withdrawal Limit
Up to $60,000 from your RRSP per person. Couples get $120,000 combined — a massive addition on top of FHSA savings.
Repay Interest-Free
Repay over 15 years starting 2 years after withdrawal. It's your own money — no interest. Missed repayments are added to that year's taxable income.
⚠️ RRSP 90-Day Rule
Funds must be in your RRSP for at least 90 days before withdrawal. Start contributing now so the clock begins.
Tax Credits & Grants
Home Buyers' Amount
Claim up to $10,000 on your return the year you buy — worth up to $1,500 back. Both partners can split it.
Greener Homes Grant
Up to $5,600 in grants for energy upgrades (heat pumps, insulation, windows) plus $600 for evaluations.
Home Accessibility Credit
Up to $20,000 in eligible renovation costs — worth $3,000 in tax savings.
Land Transfer Tax Rebates
| Province | FTB Rebate? | Max Rebate | Limit | Notes |
|---|---|---|---|---|
| 🏙️ Ontario | ✓ Yes | $4,000 | No limit | On first $368K of purchase price |
| 🏙️ Toronto (City) | ✓ Yes | $4,475 | No limit | Additional to Ontario rebate |
| 🏔️ BC | ✓ Yes | $8,000 | ≤$835K | Partial rebate up to $860K |
| 🌊 PEI | ✓ Full | Full amount | — | Complete LTT rebate |
| 🌾 Alberta/SK | No LTT | N/A | N/A | No land transfer tax at all |
| 🌿 Manitoba | ⚠️ Partial | ~$4,500 | ≤$200K | Check with province |
💡 Stack All Programs
A couple buying a $650K Toronto home could access: $80K FHSA + $120K HBP + $3K Home Buyers' Amount + $8,475 LTT rebate = over $211K in combined tax-free savings and government support.
Understanding the
Canadian Market
Know when to buy, what drives prices, and what fees to expect — so you make an informed decision, not an emotional one.
Best Time to Buy in Canada
Spring (Mar–May)
Peak inventory but peak competition. Bidding wars common in Toronto, Vancouver, Ottawa. Prices peak in April–May. Great selection, tough on budget.
Summer (Jun–Aug)
Market slows in July–August as families vacation. Late August is often a hidden gem — motivated sellers, less competition.
Fall (Sep–Nov)
Second busiest season. Good balance of inventory vs. competition. Sellers want to close before winter — leverage is improving.
Winter (Dec–Feb)
Fewest listings, least competition. Prices 5–10% lower than spring peak. Motivated sellers. Best season for first-time buyers on a budget.
What Moves Prices Up or Down?
Bank of Canada Rate
Every 0.25% rate change shifts affordability by roughly 2–3%. BoC cuts → demand surges. BoC hikes → prices cool. Watch the rate announcement calendar.
Canada's Housing Shortage
CMHC says Canada needs 3.5M more homes by 2030 to restore affordability. This chronic undersupply is the primary driver of long-term price appreciation.
Immigration & Population
Canada targets 400,000–500,000 new residents annually. This directly increases housing demand — especially in Toronto, Vancouver, and Calgary.
Government Regulation
Stress tests, foreign buyer bans, speculation taxes, and zoning changes all shift the market. Policy changes can move prices 5–15% within a year.
Where Can You Afford to Buy?
🏙️ Vancouver & Toronto
Avg: $900K–$1.3M+
Condos are the entry point. Suburbs offer better value. High competition.
🌆 Victoria, Ottawa, Hamilton
Avg: $600K–$900K
Strong demand, good livability. Detached homes still attainable in some areas.
🏘️ Calgary, Edmonton, Halifax
Avg: $400K–$650K
Growing cities. Good affordability ratio with strong long-term fundamentals.
🌾 Winnipeg, Regina, Moncton
Avg: $250K–$400K
Most affordable major cities. Detached homes accessible on modest incomes.
🌊 Kitchener, London, Barrie
Avg: $500K–$750K
Toronto overflow markets. Strong growth potential, good transit connectivity.
🏡 Smaller Communities
Avg: $150K–$350K
Remote work has boosted demand. Excellent value with lifestyle tradeoffs.
All the Fees — Complete Breakdown
Budget 3–5% of the purchase price on top of your down payment for closing costs.
| Cost | Typical Amount | Notes |
|---|---|---|
| Land Transfer Tax | 0.5–2% of price | FTB rebates available in most provinces |
| Legal / Notary Fees | $1,500–$2,500 | Required — shop around for competitive rates |
| Home Inspection | $400–$600 | Never skip this — always include as a condition |
| CMHC Insurance | 2.8–4.0% of mortgage | Added to mortgage balance if down payment <20% |
| Title Insurance | $200–$400 | One-time, strongly recommended |
| Home Insurance | $1,200–$3,000/yr | Required by lender before funds are released |
| Moving Costs | $800–$3,000 | Get 3 quotes; book early in spring/summer |
| Property Tax Adjustment | Varies | Reimburse seller for pre-paid taxes at closing |
Build Your Down Payment
Smarter & Faster
The right savings strategy can shave 1–2 years off your timeline. Here's the optimal hierarchy — and a calculator to prove it.
How Much Do You Actually Need?
| Home Price | Min Down Payment | CMHC Premium | Ideal Target |
|---|---|---|---|
| Under $500K | 5% | 4.0% of mortgage | 10–20% |
| $500K–$999K | 5% on first $500K + 10% on remainder | 2.8–3.1% | 20% |
| $1M+ | 20% — mandatory | None | 20% |
Where to Put Your Money — In This Order
Max FHSA ($8,000/year first)
Every dollar is tax-deductible going in and tax-free coming out for your home. No other account does both. This is your single highest-impact move.
Contribute to RRSP (for HBP withdrawal)
After maxing FHSA, contribute to RRSP. You can withdraw up to $60K per person tax-free under the Home Buyers' Plan. Funds need 90 days seasoning.
TFSA for overflow savings
After FHSA and RRSP, direct additional savings to your TFSA. Tax-free growth and withdrawals — ideal for your closing cost fund.
HISA for emergency fund
Keep 3–6 months of expenses in a High-Interest Savings Account (EQ Bank, Wealthsimple, Simplii — currently 4–5%). Don't use this for your down payment.
Savings Timeline Planner
🪙 Down Payment Planner
📊 Milestones
🚀 FHSA Accelerator Effect
At a 33% tax bracket, an $8,000 FHSA contribution returns ~$2,640 in your tax refund. Reinvest that refund and you're effectively saving $10,640/year toward your home.
Is Buying the Right Move
For You Right Now?
No universal right answer. Use our comparison tools to understand what makes financial sense for your specific situation today.
Buying
- Equity grows with every payment
- Stable costs with a fixed-rate mortgage
- Freedom to renovate and personalize
- Principal residence is capital-gains exempt
- Forced savings mechanism
- Large upfront capital required
- Responsible for all maintenance costs
- Less geographic flexibility
- Market risk if prices decline short-term
Renting
- No large down payment required
- Easy to move for jobs or lifestyle changes
- No maintenance responsibility
- Can invest down payment savings elsewhere
- Lower financial risk in volatile markets
- No equity building — rent leaves you with nothing
- Landlord can raise rent or not renew lease
- No customization of your space
- Housing insecurity long-term
When Does Buying Beat Renting?
✅ Buy if…
- Stable income and employment
- Planning to stay in same area 5+ years
- Have 5–20% down + closing costs saved
- Mortgage payment ≤ 32% of gross income
- Good credit score (650+)
⏳ Keep Renting if…
- May relocate within 2–3 years
- Income is variable or newly self-employed
- Actively building credit or savings
- Still deciding which city or neighbourhood
Every Number You Need
Before You Buy
Mortgage payment, affordability stress test, CMHC insurance, and land transfer tax — all in one place.
🏦 Mortgage Calculator
📘 Canadian Mortgage Facts
- Max 25-yr amortization for insured mortgages (<20% down)
- 30-yr allowed for uninsured mortgages (20%+ down)
- Canadian mortgages compound semi-annually, not monthly
- Most Canadians renew their mortgage term every 5 years
- Variable rates move with Bank of Canada; fixed rates are locked
💰 Affordability (Stress Test)
Stress Test
Must qualify at contract rate +2% or 5.25% — whichever is higher.
GDS
Housing costs ÷ gross income. Max 32%.
TDS
All debts ÷ gross income. Max 44%.
🛡️ CMHC Insurance
CMHC Rates
| Down Payment | Rate |
|---|---|
| 5–9.99% | 4.00% |
| 10–14.99% | 3.10% |
| 15–19.99% | 2.80% |
| 20%+ | None |
🏛️ Land Transfer Tax
- Alberta & SK: no LTT at all
- Ontario FTB: up to $4,000
- Toronto FTB adds up to $4,475
- BC FTB: up to $8,000 (homes ≤$835K)
- Paid at closing through your lawyer
Your Complete
Buying Checklist
40+ interactive items across 4 phases. Check them off as you go — from financial prep to getting your keys.
Every Real Estate Term
In Plain English
From FHSA to Tarion — every term you'll encounter in Canadian homebuying, explained clearly.
Search Canadian
Resale Listings
Search homes across Canada. Your filters open instantly on Realtor.ca with everything pre-applied.