New property
A family of first-time homebuyers with children buys a new “family housing unit” with three bedrooms and a floor area of at least 96 m2 for $285,000.
The household is eligible for:
a reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $2,775 and
A lump sum of $12,500
Total subsidy: $15,275
In addition, if it is a housing unit built under the SHDM’s AccèsCondo program, the household would also be eligible for a $28,500 purchase credit.
Existing property
A family of first-time homebuyers with children buys a duplex for $345,000. The family will occupy the ground floor and a tenant occupies the top floor.
The household is eligible for a reimbursement of 100% of the real estate transfer tax (“welcome tax”), which is $3,675.