Canada offers various federal, provincial, and municipal programs to assist first-time homebuyers, including tax credits, down payment assistance, and rebates. Key federal incentives include the Home Buyers’ Plan and First Home Savings Account. Buyers must budget for purchase price, taxes, fees, and mortgage insurance if down payment is under 20%. Pre-approval, home inspections, and professional guidance are essential. Strategic saving and understanding costs help make homeownership achievable.
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