Recent data from Statistics Canada show the youngest households in Canada saw their wealth decrease for the first time since the pandemic began as they avoided home purchases and reduced their financial assets.
The First-Time Home Buyer Incentive was created to help buyers more easily afford their first home. However, there’s a lot to consider before applying.
Recent data from Statistics Canada show the youngest households in Canada saw their wealth decrease for the first time since the pandemic began as they avoided home purchases and reduced their financial assets.
The federal government is introducing more support to reduce one of the biggest hurdles for young people trying to break into a tough real estate market: down payments. As part of the 2022 budget, first-time homebuyers can now qualify for a tax-free savings account and an increased tax credit to help cover the cost of a down payment.