Your Path to First-Time Homeownership Just Got Easier—Here’s How

If you’re dreaming about stepping into your very first home—or if you're a parent ready to help your grown child finally launch into a place of their own—there’s big news that could make homeownership a lot more affordable in Langley and the Fraser Valley.

On May 27, 2025, the Government of Canada introduced a new GST rebate program designed to make buying a new home more accessible for first-time homebuyers. This initiative isn't just a win for the next generation—it's also a timely opportunity for families looking to invest in long-term security and independence for their children.

What’s New?

The First-Time Home Buyers’ GST Rebate offers eligible buyers up to $50,000 in tax savings on the purchase of a newly built or substantially renovated home—a move that aims to lower upfront costs and support new home construction.

Here’s a breakdown of how it works:

• 100% GST rebate on new homes priced up to $1 million

• A phased rebate on homes priced between $1 million and $1.5 million

• No rebate on homes priced above $1.5 million

Whether you're buying directly from a builder, building on land you own, or purchasing a share in a co-op housing unit, this rebate could significantly reduce your financial barrier to entry.

Who Qualifies?

To be eligible, the home must be your primary residence, and at least one of the buyers must meet the criteria for a first-time homebuyer:

• Be 18 years or older

• Be a Canadian citizen or permanent resident

• Not have owned (or lived in a home owned by a spouse or partner) in the current calendar year or the previous four years

You must also be the first person to live in the home.

🏡 Helping Your Adult Child?
If you’re an empty nester with grown children still at home, this could be your moment to give them a fresh start. By co-signing or financially supporting a first-time buyer who meets the criteria, you can help them access significant savings and take that first step toward independence.

What Types of Homes Are Eligible?

• Newly constructed homes purchased from a builder (including those on leased land)

• Owner-built homes

• Shares in co-operative housing units

Key dates to remember:

• Purchase agreements must be signed on or after May 27, 2025, and before 2031

• Construction must begin before 2031 and be substantially completed by 2036

Real Savings in the Fraser Valley

In Langley and surrounding areas, where new home prices often range from $800,000 to $1.3 million, this rebate can make a real difference.

For example:
✅ On a $950,000 home, a qualified buyer could receive the full $50,000 rebate—money that could go toward their down payment, furnishing their home, or covering moving costs.

A Few Important Limitations

This rebate can only be claimed once per lifetime, and not if your spouse or common-law partner has previously claimed it. Also, it won’t apply to purchase agreements signed before May 27, 2025, even if the home hasn’t been built yet.

Final Thoughts

As someone who’s helped hundreds of families navigate these life-changing transitions, I know how impactful a program like this can be. It’s not just about saving money—it’s about creating opportunity, opening doors, and helping the next generation build equity and independence.

If you or your child are thinking about buying a home, now’s the time to explore what’s possible.

📲 Let’s talk about your goals, your options, and how to make this rebate work for you. Whether you're a first-time buyer or a parent ready to help, I’m here to guide you through every step.
Tamara Baltic
Fraser Valley Real Estate Specialist
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