To start off I remind you to visit my other post on First-Time Home-Buyer Credits & Rebates that the Government of Ontario offers.

Two of them are the First-Time Home-Buyer Tax Credit & the First-Time Home-Buyer Plan.

These include tax credits and the ability to use RRSP money for your down-payment without paying taxes on your RRSP’s. 

These incentives use the CRA (Canada Revenue Agency) definition of a First-Time Home-Buyer in Canada.

They say clearly (and it’s posted as of today on their website) that a first-time home buyer is anyone who is purchasing a home, and hasn’t owned or lived in a home owned by a common-law partner, in the year they are purchasing a home or the four preceding years. 

So even if you have owned a home before, as long as you haven’t owned a home or lived in a home owned by a common-law partner for the past 5 years, you can qualify as a First-Time Home-Buyer. 

I remind you there are also some recent changes that also allow some people who have gone through divorce to qualify as a first-time home buyer for the incentives. 

This takes into account that past homeowners who have owned a home but can’t afford to buy a home after divorce can get some assistance & incentives. 

If you have more questions about buying a home, whether a first-time home buyer, or you’re ready to move to something different, larger, or smaller, I’m always happy to chat.