First-Time Home Buyer Programs for Stoney Creek and Hamilton Buyers
If this would be your first home, there is real money available that many buyers never claim. Some of it reduces your tax bill, some helps you build a down payment, and some comes back to you at closing.
These are the main programs for buyers in Stoney Creek and Hamilton, with figures checked in October 2026.
The programs at a glance
| Program | What you get | Applies to |
|---|---|---|
| First Home Savings Account (FHSA) | Save $8,000 a year, up to $40,000, tax-deductible going in and tax-free coming out | Resale and new homes |
| Home Buyers' Plan | Withdraw up to $60,000 from your RRSP, repaid over 15 years | Resale and new homes |
| Ontario land transfer tax refund | Up to $4,000 back | Resale and new homes |
| Home Buyers' Tax Credit | A $1,500 federal tax credit | Resale and new homes |
| First-time buyers' GST rebate | The full federal part of the sales tax on a new home up to $1 million | New homes only |
| Ontario sales tax relief on new homes | Temporary relief on the provincial part of the sales tax | New homes bought from a builder between April 1, 2026 and March 31, 2027 |
First Home Savings Account
The FHSA is the strongest tool for most first-time buyers. Contributions reduce your taxable income, like an RRSP. Withdrawals for a first home are tax-free, like a TFSA. You do not pay the money back.
Home Buyers' Plan
The Home Buyers' Plan lets you borrow from your own RRSP. Each buyer can withdraw up to $60,000, so a couple can access up to $120,000. You repay it to your RRSP over 15 years. You can use the FHSA and the Home Buyers' Plan together on the same purchase.
Ontario land transfer tax refund
Every Ontario buyer pays land transfer tax on closing. First-time buyers get up to $4,000 of it back, which removes the tax completely on a home up to $368,000.
On a $450,000 condo, the land transfer tax is about $5,475. With the refund, a first-time buyer pays about $1,475. Hamilton has no municipal land transfer tax on top, unlike Toronto.
To qualify you must be at least 18, be a Canadian citizen or permanent resident, move in within nine months, and never have owned a home anywhere in the world. If you have a spouse, they cannot have owned a home while they were your spouse.
Home Buyers' Tax Credit
This is a $1,500 federal credit you claim on your tax return for the year you buy.
Buying a brand-new condo
Two more programs apply only to new homes bought from a builder. The federal first-time buyers' GST rebate covers the full federal part of the sales tax on a new home up to $1 million, with a partial rebate up to $1.5 million. Ontario also has temporary sales tax relief on new homes bought from a builder between April 1, 2026 and March 31, 2027.
We cover the federal rebate in more detail in our post on GST relief for first-time home buyers. If you are weighing a new build against a resale unit, see our guide to new build versus resale condos.
Who these programs don't help
If you have owned a home before, most of these are closed to you, and each program defines a first-time buyer differently. If you plan to rent the property out, the rules about living in the home will rule you out. Check the details with your accountant or lawyer before you count on any of them.
Browse condos for sale
To see how these fit into a budget, read our guide to what a condo costs per month, or visit our buyers page.
Frequently Asked Questions
Who counts as a first-time home buyer?
It depends on the program. For the Ontario land transfer tax refund, you must never have owned a home anywhere in the world. The FHSA and Home Buyers' Plan use a different test based on whether you recently lived in a home you owned.
Can I use the FHSA and the Home Buyers' Plan together?
Yes. You can use both on the same purchase.
Do I have to pay back my FHSA?
No. Qualifying withdrawals for a first home are not repaid. Home Buyers' Plan withdrawals are repaid to your RRSP over 15 years.
Is there a municipal land transfer tax in Hamilton?
No. Buyers in Hamilton and Stoney Creek pay the Ontario land transfer tax only.
Do these programs apply to resale condos?
The FHSA, Home Buyers' Plan, land transfer tax refund and Home Buyers' Tax Credit all apply to resale homes. The sales tax rebates apply only to new homes.
Buying your first home? Get in touch and we will walk you through the steps in order.
This guide is general information, not tax or legal advice. Program rules change. Confirm your eligibility with an accountant or lawyer before you rely on any of them.