Joel DyckReal Broker SK Ltd.
Saskatoon · From the topic map

Are there first-time buyer grants available for Saskatoon buyers?

Saskatoon does not have a municipal grant program for first-time buyers, but the Canada Revenue Agency administers several programs that function similarly: the Home Buyers' Plan, the First Home Savings Account, and two tax credits that arrive as a refund rather than cash at closing. Those are the real levers available to a first-time buyer here.

The Home Buyers' Plan lets you withdraw up to $60,000 per person from an RRSP toward a down payment, repaid over 15 years. The First Home Savings Account allows contributions up to $8,000 a year to a $40,000 lifetime limit, deductible going in and tax free coming out.

Eligibility matters more than most buyers expect. These programs generally require that you have not owned and lived in a home in the current calendar year and the preceding four, so a buyer who owned years ago can often still qualify.

Joel Dyck can confirm which of these apply to your specific situation before you start shopping. Get your hand-reviewed valuation from Joel Dyck.

Get your hand-reviewed valuation from Joel Dyck.

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