The MyPlace Playbook // 014

First-Time Buyer? You Just Got a Big Boost

If you’re looking to buy your very first home, the government just gave you a massive green light, and let’s just say, the race just got a lot more affordable.

As of May 27, 2025, first-time home buyers can now get up to 100% of the GST back on new homes up to $1 million.

Yep, that’s up to $50,000 back in your pocket.
Not a typo. Not a gimmick. A real rebate.

Here’s the breakdown:

🟢 New homes under $1 million → 100% GST rebate

🟡 New homes between $1M–$1.5M → Partial rebate that phases out

🔴 Over $1.5M? → No rebate (sorry, mansion lovers)

This applies whether you’re buying a brand-new build, building your own, or even buying into a co-op. Just make sure the purchase agreement is dated after May 27, 2025 and that you plan to live in it, no Airbnb empires here.

Are you eligible?

If you check these boxes, you're good to go:

✅ First-time home buyer (you or your partner haven’t owned a home in the last 4 years)

✅ Canadian citizen or permanent resident

✅ Planning to make this your primary residence

So, what now?

If you’ve been sitting on the sidelines wondering when to jump in, this could be your sign. Between low(er) home prices in many areas, lender flexibility, and now a GST rebate of up to $50K, it’s a pretty great time to look at your options.

Even if you’re just thinking about it, let’s talk. I’ll walk you through:

• What you qualify for

• How the rebate works in your scenario

• What your next steps are (spoiler: it’s easier than you think)

Let’s get you in the race.
This might be the edge you’ve been waiting for.

— Andrew
MyPlace Mortgages