🏡 How First-Time Buyers Can Get Their 5% GST Back on New Homes in Canada

If you recently purchased a newly built home in Canada as a first-time buyer, there’s great news you might not be aware of — you may be eligible to get the full 5% GST back on your purchase. That’s potentially thousands of dollars in savings sitting on the table!

💸 What Is the 5% GST Refund for First-Time Buyers?

As part of the federal government’s effort to make housing more affordable, the Goods and Services Tax (GST) has been eliminated for first-time homebuyers purchasing newly built or substantially renovated homes priced at or below $1 million — provided it will be their primary residence.

If you already bought a new home recently, this change may apply to you, and you could qualify for a refund on the GST you paid at closing.

✅ Who Qualifies?

To be eligible for the refund:

• You must be a first-time homebuyer

• The home must be newly built or substantially renovated

• The purchase price must be $1 million or less

• You must intend to live in the home as your primary residence

This applies whether the home is a detached house, townhouse, condo, or even a pre-construction property that has recently closed.

🧾 How Much Can You Get Back?

The GST in Canada is 5% of the purchase price. That means on a $600,000 home, you could be entitled to a $30,000 refund — and even more if the price is closer to the $1 million cap.

📌 How to Apply

The refund isn’t automatic — you must apply for it. The process involves submitting the appropriate form through the Canada Revenue Agency (CRA), along with documents such as your purchase agreement and proof of residency.

If you need help or want to check your eligibility, send me a message and I’ll provide you with:

• The application link

• Step-by-step instructions

• Support to make sure you don’t miss out

🎯 Why This Matters

This refund is a huge win for first-time buyers who may be stretching their budgets just to get into the market. If you’ve already bought and moved in, don’t overlook this opportunity to put money back in your pocket.

📬 Want Help Claiming Your Refund?

If you think you qualify, or just want to make sure, reach out today and I’ll help you determine your eligibility and guide you through the process.

• Sales Activity: Calgary recorded 2,236 home sales in April 2025, a 22% decrease compared to April 2024. Despite this decline, sales remained in line with long-term trends.CREB® Resources+1CREB® Resources+1

• New Listings and Inventory: New listings rose to 4,038 units, a 15.7% increase year-over-year, leading to an inventory of 5,867 units, more than double the levels reported last year. The months of supply increased to 2.62, indicating a move toward balanced market conditions.

• Benchmark Prices: The unadjusted residential benchmark price was $591,100, a slight decrease from the previous month but relatively stable compared to April 2024. Detached and semi-detached homes maintained consistent prices, while apartment and row-style homes experienced slight declines from last year's peak.

Regional Market Insights:

• Airdrie:

  • Sales: 185 units.

  • Benchmark Price: $544,700, relatively unchanged from last year.

  • Inventory: 433 units with 2.34 months of supply.

• Cochrane:

  • Sales: 94 units.

  • Benchmark Price: $592,000, nearly 6% higher than the previous year and at a record high.

  • Inventory: 246 units with 2.62 months of supply.

• Okotoks:

  • Sales: 56 units.

  • Benchmark Price: $627,100, nearly 2% higher than last April.

  • Inventory: 127 units with 2.27 months of supply.

• Chestermere:

  • Sales: 62 units.

  • Benchmark Price: $705,900.

  • Inventory: 237 units with 3.82 months of supply.

• Langdon (Rocky View Region):

  • Sales: 162 units.

  • Benchmark Price: $658,000.

  • Inventory: 495 units with 3.06 months of supply.

• Strathmore (Wheatland Region):

  • Sales: 46 units.

  • Benchmark Price: $461,700.

  • Inventory: 117 units with 2.54 months of supply.

Conclusion:

April 2025 marked a transition toward more balanced market conditions in Calgary and surrounding areas. Increased new listings and inventory levels have eased the competitive pressure on buyers, leading to a stabilization of home prices. While sales have declined compared to the previous year, they remain consistent with long-term trends, indicating a healthy market adjustment. Buyers now have more options, and sellers may need to adjust expectations as the market continues to balance.

For more detailed information, you can refer to the full CREB® April 2025 reports:

• City of Calgary Monthly Statistics

• Regional Monthly Statistics