First-time home buyers in Calgary | Roni Etin, Calgary REALTOR®

Federal programs that help first-time buyers

Three federal measures matter most for a first purchase. Rules change, so confirm the current details with the Canada Revenue Agency or your lender before you rely on them.

Program	What it does	Key limits (verify current)
First Home Savings Account (FHSA)	Tax-deductible contributions, tax-free growth, tax-free withdrawal for a qualifying first home.	$8,000 per year, $40,000 lifetime; unused room carries forward within limits.
RRSP Home Buyers’ Plan (HBP)	Withdraw from your RRSP for a first home and repay over time.	Withdrawal limit raised to $60,000 for withdrawals after April 16, 2024.
First-Time Home Buyers’ GST rebate on new homes	Removes or reduces the GST on a newly built or substantially renovated home for eligible first-time buyers.	Full relief up to $1,000,000, phased out to $1,500,000; maximum benefit $50,000; agreements signed on or after May 27, 2025 (Department of Finance announcement, May 2025).

Because Alberta has no provincial sales tax, the GST rebate is the main tax relief on a new build here. It does not apply to resale homes, which is one of the trade-offs Roni will walk you through when comparing a new community like Rangeview or Seton with an established one.

Down payment and mortgage insurance

With less than 20% down your mortgage is insured (CMHC, Sagen or Canada Guaranty) and the premium is added to the loan. The minimum is 5% on the first $500,000 of the price and 10% on the portion above that, for homes under the insured price ceiling. Your lender will also apply the federal stress test, qualifying you at a rate higher than your contract rate. That is why Roni insists on a written pre-approval before you fall in love with a house.

Closing costs in Alberta

Budget roughly 1.5% to 2% of the price for closing costs on a resale home in Alberta: legal fees and disbursements, Land Titles registration of the transfer and the mortgage, title insurance if your lawyer recommends it, a home inspection, property-tax adjustments, and moving. There is no land transfer tax in Alberta. New builds add GST (net of any rebate) and sometimes landscaping or driveway deposits.

The mistakes Roni helps first-time buyers avoid

Shopping before pre-approval. You lose negotiating credibility and sometimes the house.
Spending the whole ceiling. A lender’s maximum is not a comfortable payment. Roni models the payment with higher rates and with a child, a car or a job change in the picture.
Ignoring condo documents. Reserve fund studies, special assessments and bylaws decide what a condo really costs. A document review is worth every dollar.
Skipping the inspection to win a bidding war. Sometimes a pre-inspection is the answer; skipping it rarely is.
Forgetting the first-year costs. Window coverings, appliances, a lawnmower, a snow shovel and the furnace filter you did not know existed.

Short films for first-time buyers

First-time buyer questions

How much do I need for a down payment in Calgary?

At the September 2026 citywide benchmark of $566,700 (CREB®), a 5%/10% minimum down payment is about $31,670 plus mortgage insurance; a 20% down payment avoids insurance. Townhomes and apartment condos start well below the benchmark.

Can I combine the FHSA and the Home Buyers’ Plan?

Yes. You can use both for the same qualifying home purchase, subject to each program’s rules.

Does the GST rebate apply to resale homes?

No. GST applies to new or substantially renovated homes; resale homes are generally exempt from GST, so there is nothing to rebate.

I am a permanent resident, not a citizen. Am I a first-time buyer?

The federal GST rebate requires you to be a Canadian citizen or permanent resident and to meet the first-time buyer test. FHSA and HBP have their own residency and ownership tests. Roni will point you to the right source for your situation.

Your first home in Calgary