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Take advantage of these federal and provincial programs designed to help you get into your first home sooner.
Save up to $8,000/year tax-free toward your first home. Lifetime contribution limit of $40,000. Contributions are tax-deductible (like an RRSP) and withdrawals for a qualifying home purchase are tax-free (like a TFSA).
Withdraw up to $60,000 from your RRSP (or $120,000 as a couple) to buy your first home. The withdrawal is tax-free and must be repaid to your RRSP over 15 years, starting 5 years after withdrawal.
First-time home buyers in Ontario receive a rebate of up to $4,000 on the provincial land transfer tax. This effectively makes the first $368,000 of a home purchase exempt from LTT. Niagara Region has no municipal land transfer tax.
The federal HBTC provides a $10,000 non-refundable tax credit, resulting in up to $1,500 in tax relief in the year you purchase your first home. Available to those who haven't owned a home in the past 4 years.
The Niagara Region offers some of the most affordable real estate in the Greater Golden Horseshoe. While average home prices in Toronto and the GTA exceed $1 million, Niagara communities like Welland, Port Colborne, and Fort Erie offer starter homes starting in the $300,000 to $400,000 range. Even larger cities like St. Catharines and Niagara Falls have condo and townhouse options well under $500,000.
As a rule of thumb, your total monthly housing costs (mortgage, property taxes, heating, and half of condo fees) should not exceed 32-39% of your gross income. Use our calculators to get personalized estimates.
Meet with a mortgage broker or lender to determine how much you can borrow. A pre-approval letter strengthens your offer and shows sellers you are serious.
Connect with a local RE/MAX Garden City agent who specializes in helping first-time buyers. They will guide you through every step at no cost to you.
Your agent will set up a custom MLS search, arrange viewings, and help you evaluate properties based on your needs, budget, and long-term goals.
When you find the right home, your agent will help you craft a competitive offer with appropriate conditions for financing, inspection, and other protections.
During the conditional period, arrange your home inspection, finalize your mortgage, and have your lawyer review the agreement. Satisfy all conditions or negotiate further.
Your lawyer handles the closing paperwork, the funds are transferred, and you receive your keys. Welcome to your first home in Niagara!
Affordable Prices
Entry-level homes starting under $400,000 — a fraction of GTA prices with comparable quality of life.
Growing Communities
New infrastructure, GO Train expansion, and the South Niagara Hospital are transforming the Region.
Variety of Housing
From condos and townhomes to detached homes, there is something for every first-time buyer's budget.
Quality of Life
Wine country, waterfalls, lakes, trails, and a growing culinary and arts scene — all at your doorstep.
In Canada, the minimum down payment depends on the purchase price. For homes up to $500,000, you need 5% down. For the portion between $500,000 and $999,999, you need 10%. Homes priced at $1 million or more require 20% down. For a $500,000 home, the minimum down payment would be $25,000. Mortgage default insurance (CMHC) is required for down payments under 20%.
Several programs are available: the First Home Savings Account (FHSA) lets you save up to $8,000/year tax-free (lifetime max $40,000); the Home Buyers' Plan (HBP) allows withdrawing up to $60,000 from your RRSP; Ontario's Land Transfer Tax Rebate provides up to $4,000 back; and the federal First-Time Home Buyer Incentive offers shared-equity options. The $10,000 First-Time Home Buyers' Tax Credit also provides up to $1,500 in tax relief.
Closing costs typically total 1.5% to 4% of the purchase price. They include land transfer tax (Ontario only — no municipal LTT in Niagara), legal fees ($1,500-$2,500), title insurance ($300-$500), home inspection ($400-$600), appraisal fees ($300-$500), and moving costs. First-time buyers receive up to $4,000 back on Ontario land transfer tax.
Niagara offers some of the most affordable real estate in the Greater Golden Horseshoe. Entry-level homes, condos, and townhouses can be found starting in the $300,000-$400,000 range in cities like Welland, Port Colborne, and Fort Erie. Use our mortgage calculator to estimate monthly payments based on your down payment and income.
While not legally required, working with a buyer's agent is strongly recommended — and in most cases costs you nothing as a buyer, since commission is typically paid by the seller. An experienced agent will help you navigate the process, negotiate the best price, identify potential issues, and ensure all conditions protect your interests. RE/MAX Garden City agents are experienced in guiding first-time buyers through every step.