Mary Pidlaski

There are several options to help reduce barriers to entry into the housing market in Canada. Aside from the HBP, these didn’t exist when I bought my first home. I really wish they had.

I would LOVE for my first time buyers to know about these before they start shopping. You can save faster and potentially get a better home on your first try.

In my opinion, these are a bit of a no-brainer. Tell me what YOU think.

I always recommend looking into these programs long before you think you’re ready. Yes, YEARS before. Talk to your accountant or mortgage broker so it fits your situation. Don’t have one? Send me a message and I’ll connect you. Real estate questions are always free ;)

WHAT IS A FIRST-TIME HOME BUYERS TAX CREDIT (HBTC)

The Home Buyers Tax Credit is a federal non-refundable tax credit. It encourages Canadians to enter the real estate market by making home buying more affordable. The purchased home must be in Canada and registered with the appropriate land registry office - in your name, or in your and your spouse’s or common-law partner’s names.

• Amount: You and your spouse/partner can share a total claim of $10,000, resulting in a maximum of $1,500 in tax savings.

• Eligibility: You must have acquired a qualifying home (single-family, condo, townhouse, etc.) as your principal residence and not have lived in a home you owned in the year of purchase or the four preceding years.

• Qualified Homes: The credit applies to new and existing homes located in Canada.

• Homes under construction also qualify. You must move into the finished property within one year of the purchase closing date.

• How to Claim: Use Line 31270 on your federal Income Tax and Benefit Return for the year of acquisition. 

• Disability:  If you or your spouse/common-law partner has a disability, you do not need to have not owned a home in the last four years to qualify.

WHAT IS A HOME BUYERS’ PLAN (HBP)

The Home Buyer’s Plan (HBP) is a program that allows you to withdraw from your registered retirement savings plans (RRSPs) to buy or build a qualifying home for yourself or for a specified disabled person.

• Withdrawal Limit: As of April 16, 2024, individuals can withdraw up to $60,000, or $120,000 for couples.

• Repayment Terms: The withdrawn amount must be repaid to an RRSP within 15 years.

• Repayment Schedule: Repayments typically start the second year after the withdrawal, with at least 1/15th of the total amount due annually.

• Missed Payments: If you do not make your annual minimum repayment, the amount is added to your taxable income for that year. 

Eligibility Requirements:

• You must be a first-time home buyer, defined as not owning a home you occupied in the current or four preceding calendar years.

• You must have a written agreement to buy or build a qualifying home.

• You must be a Canadian resident.

• The funds must be in the RRSP for at least 90 days before withdrawal.

NOTE: Temporary relief has been provided to those who made a purchase between January 1, 2022 and December 31, 2025. Accordingly, the 15 year repayment period would start the fifth year following the year in which a first withdrawal was made. For example, if you made your first withdrawal in 2022, your first year of repayment would be 2027.

WHAT IS A FIRST-HOME SAVINGS ACCOUNT (FHSP)

A First Home Savings Account (FHSA) is a registered plan which allows you, if you are a first-time home buyer, to save to buy or build a qualifying first home tax-free (up tocertain limits).

Your FHSA participation room in the first year you open your FHSA is $8,000. Contributions to an FHSA are generally deductible and can be used to reduce your tax. Transfers from your RRSP’s to your FHSAs are not deductible.

NOTE: You can combine the HBP with the FHSP for the same purchase.

WHAT IS THE NEW FIRST TIME HOME BUYERS’ GST REBATE PROGRAM

The FTHB GST/HST rebate provides eligible first-time home buyers with a full or partial rebate of the GST (or the federal part of the HST) on newly constructed or substantially renovated homes. Eligible individuals could get a rebate of up to $50,000.

This rebate can help you recover the taxes paid on your home, whether you purchase a new or substantially renovated home, or have one built. To determine if you are eligible for the rebate, go to First-time home buyers’ GST/HST rebate . There is a time limit to apply for the FTHB GST/HST rebate – usually it is within two years of taking ownership or finishing construction, so make sure you apply within this period.

NOTE: Not to be confused with the First-Time Home Buyer’s Tax Credit.

If you are even thinking about buying one day, this is worth understanding early. It can open doors of possiblity for you in savings. 

Happy Shopping! 

When people think about increasing the value of their home, they often imagine major renovations. New kitchens. Full additions. Big-ticket projects.

But after years of walking through homes with buyers in Winnipeg, I can tell you something interesting: many of the details that make a home feel valuable are actually much quieter than that.

Good design doesn’t need to shout. Often, it’s the subtle choices that make a home feel cohesive, well cared for, and appealing the moment someone walks through the door.

Here are five design decisions that quietly add value.

1. Consistent Flooring Throughout the Main Living Areas

One of the first things buyers notice, even if they can’t quite explain why a home feels good, is the flooring.

Homes that flow from room to room with the same flooring feel larger, calmer, and more intentional. When floors change from tile to laminate to hardwood within a few steps, the opposite happens: the home starts to feel visually busy.

You don’t necessarily need luxury flooring everywhere, but consistency goes a long way.

2. Thoughtful, Updated Lighting

Lighting is one of the easiest ways to elevate a home.

I often walk into houses where everything else has been updated, but the light fixtures are still from 1993, or the cheapest option from the store. Swapping a dated fixture for something simple and modern can instantly change how a room feels.

Buyers may not consciously analyze the lighting, but they absolutely feel the difference.

3. A Calm, Cohesive Paint Palette

Paint is powerful.

Homes where every room is a different bold colour can feel chaotic, even if the house itself is lovely. A simple, cohesive palette - soft whites, warm neutrals, gentle greys - creates a sense of calm that buyers respond to immediately.

It allows people to imagine their own life in the space, which is exactly what you want.

4. A Welcoming Entryway

First impressions matter.

When someone walks into a home and the entryway feels clean, bright, and intentional, it sets the tone for the entire showing.

A small bench, a mirror, good lighting, and a bit of organization can make even a modest entry feel inviting. It signals that the home has been thoughtfully maintained.

5. Simple, Well-Maintained Landscaping

You don’t need a magazine-worthy garden to create curb appeal.

What buyers respond to most is care. Trimmed shrubs, tidy garden beds, and a clean pathway all send a message before anyone even steps inside: this home has been looked after.

And that feeling carries through the rest of the showing.

The interesting thing about all of these choices is that none of them are dramatic. They’re quiet. But together, they create the feeling buyers are looking for: a home that is cohesive, comfortable, and thoughtfully cared for.

And in real estate, that feeling matters more than people realize.

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If you’re ever curious which updates actually make sense for resale, and which ones probably don’t, I'm always happy to share what I’m seeing in the market right now.

Navigating the sale of your current home and the purchase of a new one at the same time in Canada is complex and high stakes. It requires coordination to avoid owning two homes at once or, worse, having nowhere to go. That said, it is very common and absolutely doable with the right plan.

Here is how to approach buying and selling at the same time in our market.

1. Choosing the Right Strategy

There is no one size fits all approach, but there are three common strategies.

Sell First, Then Buy
This is the safest route. You sell your home, negotiate a longer possession date, and then shop knowing exactly how much money you have.
Pros: No risk of carrying two mortgages and no guessing on your budget.
Cons: You may need temporary housing if you do not find the right home quickly.

Buy First, Then Sell
This allows you to secure your next home before your current one sells.
Pros: Less pressure when house hunting and typically only one move.
Cons: You may need bridge financing or could be carrying two properties for a period of time.

Ideally, there is a small overlap in possession dates. That gives you time to move gradually, paint, clean, or complete minor updates before everything arrives.

2. Financial Tools That Help

If you purchase before your current home sells, financing tools can help manage the transition.

Bridge Financing
A short term loan that allows you to access the equity from your current home for the down payment on the new one.

Home Equity Line of Credit
A HELOC can sometimes be used to fund the down payment.

Mortgage Porting
If you have a strong interest rate, you may be able to transfer your existing mortgage to your new property and avoid penalties.

3. Managing Risk in the Contract

Subject to Sale Condition
You can make your purchase conditional on selling your current home. This protects you, but in a competitive market it can weaken your offer.

Longer Closing Period
If you are selling, negotiating a longer closing date can give you more time to secure your next home.

4. Critical Steps Before You Start

Get pre approved before shopping so you know your budget.

Understand your home type and market conditions. In a seller’s market, selling first gives you clarity and strength when competing. In a buyer’s market, selling first still puts you in control and prevents overextending yourself.

Work with an experienced agent who knows how to coordinate overlapping transactions.

Have a contingency plan in place in case possession dates do not line up perfectly.

5. Common Mistakes to Avoid

Underestimating costs such as bridge financing fees, mortgage penalties, double moving costs, and storage.

Closing on a Friday. If there is a funding delay, you may be waiting all weekend. Aim for Monday to Thursday.

Overpricing your current home. A competitive price reduces the risk of carrying two properties.

With planning, realistic timelines, and proper financing in place, buying and selling at the same time can be smooth and strategic rather than stressful.

Excited to share some great news!

I’ve once again been awarded a Bronze Medallion by the Winnipeg Regional Real Estate Board This recognizes being in the top 10% of contributors to the MLS® System in the Winnipeg Metropolitan Region and surrounding areas for 2025.

I truly love helping my clients make smart moves, find the right homes, and reach their real estate goals. This achievement is a shared one - thank you to my incredible clients, friends, and supporters for trusting me along the way.

Looking ahead to more doors opened, more milestones reached, and more success stories in 2026. ️

Thinking about your next move? I’m always happy to help.

#MedallionAward #MaryOnWinnipegRealEstate #MaryPidlaski #WhereDoYouWantToHangYourHat #RealEstateInWinnipeg