Buying My First Home Canada -

Budget an additional 1.5% to 4% of the purchase price for one-time fees like land transfer taxes, legal fees, and home inspections. 2. Government Incentives for 2026

The Canadian government offers several programs to help first-time buyers enter the market: First-Time Home Buyer Programs in Canada in 2026

If your down payment is less than 20%, you must purchase mortgage default insurance (e.g., from CMHC ).

Buying your first home in Canada is a major milestone, and 2026 is shaping up to be a "reset year" with more favorable conditions for buyers than in recent years. To navigate this process successfully, you need to understand the financial requirements, available government incentives, and the current market landscape.

Before you start browsing listings, you must determine your budget. In Canada, the minimum down payment depends on the home's purchase price: Purchase Price Minimum Down Payment 5% of the purchase price $500,001 to $1,499,999 5% on the first $500k + 10% on the remaining amount $1,500,000 or more 20% of the purchase price