First Time Home Buyers Guide: What you need to know when buying a home in Ontario

Buying your first home in Ontario can be exciting yet overwhelming. Key steps include saving for a down payment, with options like the RRSP Home Buyers' Plan allowing access to $60,000 and the First Time Home Buyer Savings Account offering tax-free savings up to $40,000. First-time buyers can also benefit from tax credits, such as the First-Time Home Buyer Tax Credit and the Ontario Land Transfer Tax Refund. Consulting a mortgage broker can help navigate the process and maximize financial benefits.