Big Savings Proposed for First-Time Homebuyers in Calgary: GST Rebate on New Homes

Big Savings Proposed for First-Time Homebuyers in Calgary: GST Rebate on New Homes

Are you dreaming of buying or building a new home in Calgary? If you’re a first-time homebuyer, there’s promising news that could make homeownership more affordable. The Government of Canada has proposed a new GST rebate that, if passed, could help qualified buyers save up to $50,000 on a newly built home. Whether you’re purchasing from a builder or planning to build your own, this program is intended to make entering Calgary’s housing market more achievable.

What Is the Proposed GST Rebate?

When you buy or build a new home—whether it’s a front-garage home, laned home, duplex, or townhome—you typically pay 5% Goods and Services Tax (GST) on top of the purchase price. That can add up to a significant amount. Under the proposed rebate, the federal government would return some or all of that GST to first-time homebuyers, helping reduce the financial burden of buying or building in Calgary.

How Much Could You Save?

If your new home is priced at $1 million or less, you could be eligible for a full GST rebate—potentially putting up to $50,000 back in your pocket. For homes between $1 million and $1.5 million, a partial rebate would apply, gradually decreasing as the home price increases. Homes priced over $1.5 million would not qualify. If passed, this rebate would offer a substantial benefit for first-time buyers entering the housing market.

Who Would Be Eligible?

To qualify under the proposed rules, you would need to be at least 18 years old, a Canadian citizen or permanent resident, and a first-time homebuyer—meaning you’ve never owned a home, anywhere. You must also intend to live in the home as your primary residence. If your spouse or partner has previously owned a home, this could impact your eligibility.

What Homes Would Be Included?

The proposed rebate would apply to newly built homes purchased from a builder, as well as homes you build yourself on land you own or lease. This includes detached homes, townhomes, condos, and co-op units—as long as they’re brand new and you’re the first to live in them. Whether you’re building custom or buying in one of Calgary’s new communities, the program is designed to support a variety of home types.

Key Dates to Watch

As outlined in the proposal, purchase agreements would need to be signed between May 27, 2025 and before 2031, with construction substantially completed before 2036. These dates are still subject to legislative approval, so it’s important to stay informed as the proposal moves through Parliament.

Next Steps for Calgary Homebuyers

At Trico Homes, we know buying your first home is a big milestone—and we’re here to guide you through it. Our team is following this proposed rebate closely and will keep you updated on its progress. In the meantime, here’s how you can prepare:

1. Check your eligibility – Review the proposed criteria and see if it could apply to your situation.
2. Explore your options – Whether you’re buying or building, explore Calgary’s exciting communities. Trico builds in over 29 locations, with both quick possession and pre-sale homes available.
3. Speak with an Expert – Our team can help you explore a wide range of home options in Calgary’s most desirable communities and guide you through the homebuying process from start to finish.

Let’s Get You Home

While this GST rebate is not yet in effect, it signals a strong federal focus on making homeownership more accessible for Canadians. Whether you’re just starting to explore or ready to move forward, Trico Homes is here to help. Reach out to our team today—we’d love to support you on your journey to owning your first home in Calgary.