Mortgage Blog
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Looking for a New Home?
August 20, 2025 | Posted by: Angela Robinson
The federal government has introduced legislation to eliminate the GST on new homes under $1 million—a change that can save buyers up to $50,000 off the purchase price and as much as $240/month on their mortgage payments. ????
This relief also lowers upfront closing costs and down payments, helping Canadians get into their first home sooner. Nearly 85% of new builds in Canada qualify, making this a major boost for affordability—especially in higher-priced markets.
The measure applies to qualifying homes purchased between May 27, 2024 and 2031, with construction required to start before 2031 and finish by 2036.
Thinking about buying your first home? Let’s talk strategy and make sure you’re positioned to take advantage of these savings.
???? Contact Alberta Mortgage Professionals today to get started at 780 701 3888 or marc@albertamortgagepros.com
