{"id":94963,"date":"2025-07-08T16:29:35","date_gmt":"2025-07-08T20:29:35","guid":{"rendered":"https:\/\/www.rbcroyalbank.com\/en-ca\/?post_type=rbc_my_money_matter&#038;p=94963"},"modified":"2025-07-08T16:29:37","modified_gmt":"2025-07-08T20:29:37","slug":"how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market","status":"publish","type":"rbc_my_money_matter","link":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","title":{"rendered":"How You Can Afford Your First Home in Canada (Yes, Even in This Market)"},"content":{"rendered":"\n<section class=\"wp-block-rbc-section-block  pos-rel\" style=\"border-radius:0px\">\n<div class=\"wp-block-rbc-section-inner-block  section-inner\" style=\"border-radius:0x\">\n<div class=\"wp-block-rbc-rbc-block drop-shadow pos-rel top-line-blue block-wpr\">\n<div class=\"wp-block-rbc-rbc-block-inner-block block-inner\">\n<h4 class=\"wp-block-heading\" id=\"h-tldr\">TLDR<\/h4>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>With a little planning, clear goals and smart saving habits, you can build momentum toward owning your first home.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>The First Home Savings Account (FHSA)&nbsp;is designed to incentivise and help first-time buyers save faster. Other tax-efficient options, like a TFSA or RRSP, can also support your savings goals.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Homeownership costs go beyond the down payment, so be sure to budget for living expenses, bills and other essentials along the way.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item\">\n<p>Why not get creative? It may be worth exploring alternative routes to homeownership such as buying with friends or rent-to-own options.<\/p>\n<\/li>\n<\/ul>\n<\/div>\n<\/div>\n\n\n\n<p><\/p>\n\n\n\n<p>If you\u2019re a young person living in Canada and looking to jump into the housing market, congrats! You\u2019re in good company. In fact,&nbsp;54% of Canadians aged 19 &#8211; 39&nbsp;believe <a href=\"https:\/\/www.rbc.com\/en\/thought-leadership\/economics\/canadianhousing\/housing-affordability\/owning-a-home-in-canada-is-the-most-affordable-its-been-in-three-years\/?_gl=1*z8qc0*_gcl_au*MTQ4MTAyNDEwMi4xNzQ4MjYxMTA4*_ga*MTU4NTM2NDI5OS4xNjc3NTA2ODY4*_ga_89NPCTDXQR*czE3NTE5ODAxNzIkbzg1JGcxJHQxNzUxOTgwMjUzJGo2MCRsMCRoMA..&amp;_ot=1751980731214-1%3A1%2C2%3A1%2C3%3A1%2C4%3A1\" data-dig-id=\"LP-94963-b730cff6\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"homeownership is within reach\" class=\"rbc-link-format\">homeownership is within reach<\/a>, and&nbsp;84% say it\u2019s a worthwhile investment.<\/p>\n\n\n\n<p>If homeownership is a goal for you, financial education, early planning, consistent saving and the smart use of financial tools can help you build the foundation you need to make it happen.<\/p>\n\n\n\n<p>Here\u2019s how to bring the dream of your first home closer to reality.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-preparing-to-buy-your-first-home\">Preparing to buy your first home<\/h2>\n\n\n\n<p>Buying a home starts with some housekeeping, financially speaking. Understanding your credit worthiness, thinking about how you\u2019re going to save for your down-payment and building savvy spending habits now will help prep you for homeownership. It\u2019s not a process that happens overnight, so it\u2019s important to plan ahead to be financially ready when the time is right to buy.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-set-yourself-up-for-success\">Set yourself up for success<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Set a target<\/strong>:&nbsp;Know the average home price in your ideal area and estimate the down payment you\u2019ll need (<a href=\"https:\/\/www.houseful.ca\/\" data-dig-id=\"LP-94963-ab26cab5\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Houseful\" class=\"rbc-link-format\">Houseful<\/a>&nbsp;can help here!)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Set a timeline<\/strong>:&nbsp;Attach a date to your goal. This helps keep your efforts focused.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Set monthly goals:<\/strong>&nbsp;Monthly goals feel less overwhelming and more achievable.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-check-and-improve-your-credit-score\">Check (and improve) your credit score<\/h3>\n\n\n\n<p>Lenders use your&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/money-academy\/credit-and-borrowing\/understanding-credit-and-credit-scores\/good-credit-score\/\" data-dig-id=\"LP-94963-0bbdf112\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"credit score\" class=\"rbc-link-format\">credit score<\/a>&nbsp;as a key criteria when deciding whether to approve your mortgage application and in determining how much they\u2019re willing to lend you. A better score can unlock a larger mortgage or potentially better rates. Not sure what your current credit score is? If you\u2019re an RBC client, you can check your credit score through the&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/lp\/payments\/mobile-credit-score\/\" data-dig-id=\"LP-94963-415c6a7d\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC mobile app\" class=\"rbc-link-format\">RBC mobile app<\/a>&nbsp;for free, or check it through Canada\u2019s credit bureaus: Equifax or TransUnion.<\/p>\n\n\n\n<p>If you want to boost your credit score in advance of applying for a mortgage, here are a few ways to do it:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Pay bills on time<\/strong>&nbsp;\u2013 Even one missed payment can hurt your score<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Keep credit usage low&nbsp;<\/strong>\u2013 Try to use less than 30% of your available credit<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Avoid applying for new credit<\/strong>&nbsp;\u2013 Especially in the months leading up to your mortgage application<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Pay down existing debt<\/strong>&nbsp;\u2013 Especially high-interest credit card balances<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Keep old accounts open<\/strong>&nbsp;\u2013 A long credit history helps boost your score<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-fine-tune-your-spending-habits\">Fine tune your spending habits<\/h3>\n\n\n\n<p>Working towards a big (exciting) goal \u2013 like buying your first home \u2013 can mean rethinking where you currently spend your money. While some young Canadians are making significant <a href=\"https:\/\/globalnews.ca\/news\/10788084\/housing-affordability-young-canadians-royal-lepage\/\" data-dig-id=\"LP-94963-55485baa\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"sacrifices to achieve their goal\" class=\"rbc-link-format\">sacrifices to achieve their goal<\/a>, small steps can make a big difference too. Here are some ways to reduce unnecessary expenses:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Find areas to trim in your current budget<\/strong> \u2013 Think subscriptions, ride shares and eating out<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Prioritize what brings you joy and cut the rest<\/strong> \u2013 If it doesn\u2019t add real value to your day-to-day, it may not be worth it<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Resist impulse buys<\/strong> \u2013 These could derail your savings efforts<\/p>\n<\/li>\n<\/ul>\n\n\n\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Drive: Youth &amp; Money\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/lflGi-g3zuQ?feature=oembed&#038;rel=0\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-understand-the-canadian-home-buying-process\">Understand the Canadian home buying process<\/h2>\n\n\n\n<p>Getting familiar with the \u201chow to\u2019s\u201d of buying a home will make the process feel far smoother in the future. Here are the key steps Canadians should know:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-mortgage-pre-approval\">Mortgage pre-approval<\/h3>\n\n\n\n<p>Getting pre-approved for a mortgage gives you a clear idea of how much you can borrow \u2013 and at what rate. It\u2019s key information to have when deciding on a price range! When pre-approving, lenders will look at your:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mob-mar-l mar-l\">\n<p>Income<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Debt<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Credit score<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Tip: When you meet with your lender, be prepared to show proof of income with a letter from your employer.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-finding-a-home\">Finding a home<\/h3>\n\n\n\n<p>With a mortgage pre-approval in hand, you can begin the exciting part: looking for a property! It\u2019s strongly recommended to work with a licensed realtor to help you navigate the process \u2013 and the area. They can help with things such as:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Understanding the pros and cons of specific neighbourhoods and locations<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Sharing insights on common pitfalls<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Expanding your search power\u2014they might know of properties you can\u2019t find online<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Act as emotional support. An objective person in your corner can help you make rational decisions<\/p>\n<\/li>\n<\/ul>\n\n\n\n<p>Tip: Ask your friends for a trusted realtor referral.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-making-an-offer-and-closing-the-deal\">Making an offer \u2013 and closing the deal<\/h3>\n\n\n\n<p>Once you find \u201cthe one,\u201d your agent can walk you through the process of making an offer, including appropriate conditions (such as a home inspection and financing). Once the offer is accepted, you\u2019ll work with a real estate lawyer to finalize the closing details and settle any other fine print, including when you can pick up your keys!<\/p>\n\n\n\n<p>Tip: Bidding wars are common but be sure to stick to your budget, no matter how competitive it gets.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-find-a-savings-tool-that-works-for-you\">Find a savings tool that works for you<\/h2>\n\n\n\n<p>Let\u2019s be real: saving up to buy a home can feel like one of the biggest challenges young Canadians face today. But with a little effort, the help of dedicated savings vehicles and new mortgage measures introduced by the government, affording that first home is possible within your timeline.<\/p>\n\n\n\n<p>If you\u2019re not sure what best works with your goals and lifestyle, speak with a financial advisor.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-first-home-savings-account-fhsa\">First Home Savings Account (FHSA)<\/h3>\n\n\n\n<p>The&nbsp;<a href=\"https:\/\/www.rbcroyalbank.com\/investments\/fhsa.html\" data-dig-id=\"LP-94963-ca321ade\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"First Home Savings Account\" class=\"rbc-link-format\">First Home Savings Account<\/a> (FHSA), which became available in 2023, lets you save up to $8,000 per year to a maximum of&nbsp;$40,000,&nbsp;tax-free, toward your first home. Contributions are tax-deductible, and qualified withdrawals \u2013 including investment growth \u2013 are tax-free too.<\/p>\n\n\n\n<p>You can contribute up to&nbsp;$8,000 per year, so starting early helps you maximize the full benefit.<\/p>\n\n\n\n<p>Beyond the <a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/inspired-investor\/smart-saving\/the-first-home-savings-account-fhsa-turns-one-three-ways-to-make-the-most-out-of-the-fhsa\/\" data-dig-id=\"LP-94963-ce53c1c5\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"First Home Savings Account\" class=\"rbc-link-format\">First Home Savings Account<\/a>, there are <a href=\"https:\/\/www.rbcroyalbank.com\/investments\/tfsa-vs-rrsp-fhsa.html?msockid=02033fb56b7a64d131082a526ad06528\" data-dig-id=\"LP-94963-eb7989c2\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"other savings options\" class=\"rbc-link-format\">other savings options<\/a> that can also help you save for your down payment and can be combined for maximum benefit.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-tax-free-savings-account-tfsa\">Tax-Free Savings Account (TFSA)<\/h3>\n\n\n\n<p>A TFSA lets you grow your savings tax-free and withdraw funds at any time without penalties. Any Canadian 18+ can open a TFSA, making it a great option if you\u2019re not eligible for an FHSA or you\u2019ve maxed out your contributions. Within a TFSA you can invest a mix of investments, such as GICs, ETFs or mutual funds, giving you the potential to grow your savings faster than in a regular account.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-rrsp-home-buyer-s-plan\">RRSP Home Buyer\u2019s Plan<\/h3>\n\n\n\n<p>With the federal government&#8217;s Home Buyers&#8217; Plan (HBP), you can use up to $60,000 of your Registered Retirement Savings Plan (RRSP) savings to help finance your down payment on a home. This amount bumps up to $120,000 for a couple. Another great perk is that the withdrawal is not taxable as long as you repay it within a 15-year period.<\/p>\n\n\n\n<p>To qualify, the RRSP funds must be in your account for at least 90 days before you withdraw them, and you\u2019ll have to show a signed agreement to buy or build a home.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-budget-for-more-than-just-the-down-payment\">Budget for more than just the down payment<\/h2>\n\n\n\n<p>Buying a home involves costs beyond the down payment. As you save for homeownership, don\u2019t forget about the other expenses you\u2019ll need to cover.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-closing-costs\">Closing costs<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Closing costs&nbsp;\u2013 Legal fees, title insurance and other admin costs (typically 1.5 &#8211; 4% of the home\u2019s purchase price in Canada)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Land transfer tax&nbsp;\u2013 A provincial (and sometimes municipal) tax based on your home\u2019s price<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Moving expenses&nbsp;\u2013 Whether it\u2019s renting a truck or hiring movers<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-homeownership-costs\">Homeownership costs<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc mar-l mob-mar-l\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Monthly bills&nbsp;\u2013 Utilities, internet, property taxes and home insurance<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Maintenance and repairs&nbsp;\u2013 From leaky faucets to seasonal upkeep<\/p>\n<\/li>\n<\/ul>\n\n\n\n<table class=\"table-stack wp-block-rbc-stackable-table-block is-style-table-striped col-stack\"><tbody><tr><td><strong>Category<\/strong><\/td><td><strong>Details<\/strong><\/td><\/tr><tr><td><strong>Closing Costs<\/strong><\/td><td>Legal fees, land transfer taxes, little insurance appraisals<\/td><\/tr><tr><td><strong>Home Inspection<\/strong><\/td><td>Pre-purchase inspection recommended<\/td><\/tr><tr><td><strong>Property Taxes<\/strong><\/td><td>Annual municipal tax based on home value<\/td><\/tr><tr><td><strong>Maintenance<\/strong><\/td><td>Annual repairs, seasonal work (e.g. HVAC, roofing, snow removal)<\/td><\/tr><tr><td><strong>Utilities<\/strong><\/td><td>Electricity, gas, water<\/td><\/tr><tr><td><strong>Condo Fees<\/strong><\/td><td>If applicable, includes maintenance, building insurance<\/td><\/tr><tr><td><strong>Home Insurance<\/strong><\/td><td>Mandatory for mortgage approval<\/td><\/tr><tr><td><strong>Moving Costs<\/strong><\/td><td>Hiring movers, truck rental, supplies<\/td><\/tr><tr><td><strong>Furniture &amp; D\u00e9cor<\/strong><\/td><td>Furnishing key rooms + paint, window coverings<\/td><\/tr><\/tbody><\/table>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-don-t-forget-about-living-costs\">Don\u2019t forget about living costs<\/h3>\n\n\n\n<p>Homeownership shouldn\u2019t mean giving up everything else. You\u2019ll want to avoid being \u201chouse poor\u201d\u2014 where most of your income goes toward the home and little is left for living.<\/p>\n\n\n\n<p>Be sure your budget includes room for essentials like groceries, transit and healthcare, emergencies and surprise costs, plus little luxuries now and then\u2026 like that first dinner party in your new place!<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-more-ways-to-make-home-ownership-affordable\">More ways to make home ownership affordable<\/h2>\n\n\n\n<p>Saving is obviously a big part of starting your homeownership journey. But there are other ways to help make your dream a reality. Here are some ideas to explore:<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-government-programs\">Government programs<\/h3>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Land Transfer Tax Rebates<\/strong>: Land transfer tax rebates are available to first-time homebuyers in the provinces of <a href=\"https:\/\/www.ontario.ca\/document\/land-transfer-tax\/land-transfer-tax-refunds-first-time-homebuyers\" data-dig-id=\"LP-94963-38cff487\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Ontario\" class=\"rbc-link-format\">Ontario<\/a>, <a href=\"https:\/\/www2.gov.bc.ca\/gov\/content\/taxes\/property-taxes\/property-transfer-tax\/exemptions\" data-dig-id=\"LP-94963-dd8d7df1\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"British Columbia\" class=\"rbc-link-format\">British Columbia<\/a> and <a href=\"https:\/\/www.princeedwardisland.ca\/en\/information\/finance\/real-property-transfer-tax-first-time-home-buyers-exemption\" data-dig-id=\"LP-94963-3c3df6fd\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"Prince Edward Island\" class=\"rbc-link-format\">Prince Edward Island<\/a>. There is also a land transfer tax rebate available for first-time homebuyers in the <a href=\"https:\/\/www.toronto.ca\/services-payments\/property-taxes-utilities\/municipal-land-transfer-tax-mltt\/municipal-land-transfer-tax-mltt-rebate-opportunities\/\">city of Toronto<\/a>.&nbsp;<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>First-Time Home Buyers\u2019 Tax Credit (HBTC):<\/strong> <a href=\"https:\/\/www.canada.ca\/en\/revenue-agency\/services\/tax\/individuals\/topics\/about-your-tax-return\/tax-return\/completing-a-tax-return\/deductions-credits-expenses\/line-31270-home-buyers-amount.html\" data-dig-id=\"LP-94963-126b3d98\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"First-time homebuyers can claim\" class=\"rbc-link-format\">First-time homebuyers can claim<\/a> up to $10,000 for the purchase of a qualifying home. At a 15% tax rate, the $10,000 claim equals a one-time $1,500 tax reduction.<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>GST rebate:<\/strong> Effective May 27, 2025, the federal government has introduced a <a href=\"https:\/\/www.canada.ca\/en\/department-finance\/news\/2025\/05\/gst-relief-for-first-time-home-buyers-on-new-homes-valued-up-to-15-million.html\" data-dig-id=\"LP-94963-1c766023\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"GST rebate for first-time home buyers\" class=\"rbc-link-format\">GST rebate for first-time home buyers<\/a> who are purchasing a new build. The rebate will remove the GST on new homes at or under $1 million and lower it on homes between $1 million and $1.5 million for all first-time buyers.<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-mortgage-rule-changes\">Mortgage rule changes<\/h3>\n\n\n\n<p>Recent changes to mortgage rules are making it easier for Canadians \u2013 especially first-time homebuyers \u2013 to purchase their first home.<\/p>\n\n\n\n<p>One recent change is the introduction of 30-year mortgage amortizations (the term of the loan) for all Canadian buyers of new builds &#8211; an increase from the standard 25-year amortization period.&nbsp; A longer amortization period can reduce your monthly payments.<\/p>\n\n\n\n<p>Another meaningful move is the increase to the insured mortgage price cap. To reflect current housing market realities, especially in expensive urban hubs like Toronto or Vancouver where many buyers do not have the required 20% downpayment, Canadian homebuyers can get an insured mortgage for a home valued up to $1.5 million \u2013 an increase from $1 million.<\/p>\n\n\n\n<h3 class=\"wp-block-heading\" id=\"h-explore-less-traditional-paths-to-home-ownership\">Explore less traditional paths to home ownership<\/h3>\n\n\n\n<p>If the traditional path doesn\u2019t fit, try one of these routes:<\/p>\n\n\n\n<ul class=\"wp-block-rbc-list is-style-blue-disc\">\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Co-buying:<\/strong> team up with friends or family to buy a home<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Co-living:<\/strong> consider roommates to help make monthly bills more manageable<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Look into <strong>rent-to-own<\/strong> options<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p>Consider <strong>new construction<\/strong> (down payments are made in stages)<\/p>\n<\/li>\n\n\n\n<li class=\"wp-block-rbc-list-item mar-l mob-mar-l\">\n<p><strong>Consider smaller towns:<\/strong> Explore less competitive real estate markets<\/p>\n<\/li>\n<\/ul>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-get-one-step-closer-to-homeownership\">Get one step closer to homeownership<\/h2>\n\n\n\n<p>Homeownership is an exciting goal for many Canadians and <a href=\"https:\/\/www.rbcroyalbank.com\/mortgages\/specialist-locator\/index.html\" data-dig-id=\"LP-94963-523e4568\" data-dig-category=\"LP\" data-dig-action=\"link click\" data-dig-label=\"RBC Mortgage Specialists\" class=\"rbc-link-format\">RBC Mortgage Specialists<\/a>&nbsp;are available to give you personalized advice to help you reach your goal faster.<\/p>\n<\/div>\n<\/section>\n","protected":false},"excerpt":{"rendered":"<p>Under 30 and looking to buy your first home? The right savings habits and a smart plan could bring your goal within reach faster.<\/p>\n","protected":false},"author":319,"featured_media":94974,"parent":57283,"menu_order":0,"template":"wp-custom-template-mmm-sticky-nav","meta":{"_acf_changed":false,"advgb_blocks_editor_width":"","advgb_blocks_columns_visual_guide":"","footnotes":""},"tags":[550,57],"rbc_content_type":[31],"rbc_audience":[61],"rbc_lob_group":[],"rbc_difficulty_level":[33],"rbc_mmm_category":[310,336,303],"class_list":["post-94963","rbc_my_money_matter","type-rbc_my_money_matter","status-publish","has-post-thumbnail","hentry","tag-finding-home","tag-home-ownership","rbc_content_type-article","rbc_audience-youth","rbc_difficulty_level-beginner","rbc_mmm_category-buying-a-home","rbc_mmm_category-buying-your-first-home","rbc_mmm_category-goals-aspirations"],"acf":{"contently_publication_id":"","custom_author":"Diane Amato","rbc_video_header":"","rbc_media_duration":"","rbc_toc_for_mmm_tag":"h2","rbc_toc_for_mmm_limit":6,"rbc_toc_for_mmm":[{"title":"Preparing to buy your first home","url":"#h-preparing-to-buy-your-first-home"},{"title":"Understand the Canadian home buying process","url":"#h-understand-the-canadian-home-buying-process"},{"title":"Find a savings tool that works for you","url":"#h-find-a-savings-tool-that-works-for-you"},{"title":"Budget for more than just the down payment","url":"#h-budget-for-more-than-just-the-down-payment"},{"title":"More ways to make home ownership affordable","url":"#h-more-ways-to-make-home-ownership-affordable"},{"title":"Get one step closer to homeownership","url":"#h-get-one-step-closer-to-homeownership"}],"rbc_toc_for_mmm_action":"Generate Table Of Contents"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.2 (Yoast SEO v27.2) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<meta name=\"description\" content=\"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:description\" content=\"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\" \/>\n<meta property=\"og:site_name\" content=\"RBC Royal Bank\" \/>\n<meta property=\"article:modified_time\" content=\"2025-07-08T20:29:37+00:00\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\" \/>\n<meta name=\"twitter:label1\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data1\" content=\"8 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\"},\"author\":{\"name\":\"jacobkeast\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/3a2a4877666ba4cb225704e4ddbe9c98\"},\"headline\":\"How You Can Afford Your First Home in Canada (Yes, Even in This Market)\",\"datePublished\":\"2025-07-08T20:29:35+00:00\",\"dateModified\":\"2025-07-08T20:29:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\"},\"wordCount\":1852,\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\",\"keywords\":[\"Finding Home\",\"Home Ownership\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\",\"name\":\"How You Can Afford Your First Home in Canada (Yes, Even in This Market) - My Money Matters\",\"isPartOf\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\",\"datePublished\":\"2025-07-08T20:29:35+00:00\",\"dateModified\":\"2025-07-08T20:29:37+00:00\",\"description\":\"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\",\"contentUrl\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\",\"width\":6000,\"height\":4000,\"caption\":\"Smiling young woman carrying a moving box and plant as she moves into her first home.\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"My Money Matters\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Goals and Aspirations\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Buying a Home\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/\"},{\"@type\":\"ListItem\",\"position\":4,\"name\":\"Buying Your First Home\",\"item\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/\"},{\"@type\":\"ListItem\",\"position\":5,\"name\":\"How You Can Afford Your First Home in Canada (Yes, Even in This Market)\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#website\",\"url\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/\",\"name\":\"RBC Royal Bank\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/3a2a4877666ba4cb225704e4ddbe9c98\",\"name\":\"jacobkeast\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g\",\"caption\":\"jacobkeast\"}}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"description":"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","og_locale":"en_US","og_type":"article","og_description":"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.","og_url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","og_site_name":"RBC Royal Bank","article_modified_time":"2025-07-08T20:29:37+00:00","twitter_card":"summary_large_image","twitter_image":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80","twitter_misc":{"Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#article","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/"},"author":{"name":"jacobkeast","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/3a2a4877666ba4cb225704e4ddbe9c98"},"headline":"How You Can Afford Your First Home in Canada (Yes, Even in This Market)","datePublished":"2025-07-08T20:29:35+00:00","dateModified":"2025-07-08T20:29:37+00:00","mainEntityOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/"},"wordCount":1852,"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80","keywords":["Finding Home","Home Ownership"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","name":"How You Can Afford Your First Home in Canada (Yes, Even in This Market) - My Money Matters","isPartOf":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage"},"image":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80","datePublished":"2025-07-08T20:29:35+00:00","dateModified":"2025-07-08T20:29:37+00:00","description":"Homeownership is an important goal for many young Canadians. These smart tools and tips can help you plan ahead and make confident financial decisions.","breadcrumb":{"@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#primaryimage","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80","contentUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80","width":6000,"height":4000,"caption":"Smiling young woman carrying a moving box and plant as she moves into her first home."},{"@type":"BreadcrumbList","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"My Money Matters","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/"},{"@type":"ListItem","position":2,"name":"Goals and Aspirations","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/"},{"@type":"ListItem","position":3,"name":"Buying a Home","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/"},{"@type":"ListItem","position":4,"name":"Buying Your First Home","item":"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/"},{"@type":"ListItem","position":5,"name":"How You Can Afford Your First Home in Canada (Yes, Even in This Market)"}]},{"@type":"WebSite","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#website","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/","name":"RBC Royal Bank","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.rbcroyalbank.com\/en-ca\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.rbcroyalbank.com\/en-ca\/#\/schema\/person\/3a2a4877666ba4cb225704e4ddbe9c98","name":"jacobkeast","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/4cc2faa5872190683c01f2e13306bfe50473bd54679d4e4593df1dfb7fb009c4?s=96&d=mm&r=g","caption":"jacobkeast"}}]}},"parsely":{"version":"1.1.0","canonical_url":"https:\/\/rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","smart_links":{"inbound":0,"outbound":0},"traffic_boost_suggestions_count":0,"meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"How You Can Afford Your First Home in Canada (Yes, Even in This Market)","url":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/goals-aspirations\/buying-a-home\/buying-your-first-home\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\/"},"thumbnailUrl":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80&w=150&h=150&crop=1","image":{"@type":"ImageObject","url":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80"},"articleSection":"Uncategorized","author":[{"@type":"Person","name":"jacobkeast"}],"creator":["jacobkeast"],"publisher":{"@type":"Organization","name":"RBC Royal Bank","logo":""},"keywords":["finding home","home ownership"],"dateCreated":"2025-07-08T20:29:35Z","datePublished":"2025-07-08T20:29:35Z","dateModified":"2025-07-08T20:29:37Z"},"rendered":"<script type=\"application\/ld+json\" class=\"wp-parsely-metadata\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"How You Can Afford Your First Home in Canada (Yes, Even in This Market)\",\"url\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/goals-aspirations\\\/buying-a-home\\\/buying-your-first-home\\\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/my-money-matters\\\/goals-aspirations\\\/buying-a-home\\\/buying-your-first-home\\\/how-you-can-afford-your-first-home-in-canada-yes-even-in-this-market\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2025\\\/07\\\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80&w=150&h=150&crop=1\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/www.rbcroyalbank.com\\\/en-ca\\\/wp-content\\\/uploads\\\/sites\\\/12\\\/2025\\\/07\\\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80\"},\"articleSection\":\"Uncategorized\",\"author\":[{\"@type\":\"Person\",\"name\":\"jacobkeast\"}],\"creator\":[\"jacobkeast\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"RBC Royal Bank\",\"logo\":\"\"},\"keywords\":[\"finding home\",\"home ownership\"],\"dateCreated\":\"2025-07-08T20:29:35Z\",\"datePublished\":\"2025-07-08T20:29:35Z\",\"dateModified\":\"2025-07-08T20:29:37Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/rbcroyalbank.com\/p.js"},"featured_img":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-content\/uploads\/sites\/12\/2025\/07\/shutterstock_2475427431_HowareyoungCanadiansbuyinghomes.jpg?quality=80&w=1024","coauthors":[],"author_meta":{"author_link":"https:\/\/www.rbcroyalbank.com\/en-ca\/author\/jacobkeast\/","display_name":"jacobkeast"},"relative_dates":{"created":"Posted 9 months ago","modified":"Updated 9 months ago"},"absolute_dates":{"created":"Posted on July 8, 2025","modified":"Updated on July 8, 2025"},"absolute_dates_time":{"created":"Posted on July 8, 2025 4:29 pm","modified":"Updated on July 8, 2025 4:29 pm"},"featured_img_caption":"","tax_additional":{"post_tag":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/finding-home\/\" class=\"advgb-post-tax-term\">Finding Home<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/my-money-matters\/topic\/home-ownership\/\" class=\"advgb-post-tax-term\">Home Ownership<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Finding Home<\/span>","<span class=\"advgb-post-tax-term\">Home Ownership<\/span>"],"slug":"post_tag","name":"Tags"},"rbc_content_type":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/content-type\/article\/\" class=\"advgb-post-tax-term\">Article<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Article<\/span>"],"slug":"rbc_content_type","name":"Content Types"},"rbc_audience":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/audience\/youth\/\" class=\"advgb-post-tax-term\">Youth<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Youth<\/span>"],"slug":"rbc_audience","name":"Audiences"},"rbc_lob_group":{"linked":[],"unlinked":[],"slug":"rbc_lob_group","name":"LOB Groups"},"rbc_difficulty_level":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/difficulty-level\/beginner\/\" class=\"advgb-post-tax-term\">Beginner<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Beginner<\/span>"],"slug":"rbc_difficulty_level","name":"Difficulty Levels"},"rbc_mmm_category":{"linked":["<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/buying-a-home\/\" class=\"advgb-post-tax-term\">Buying a Home<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/buying-your-first-home\/\" class=\"advgb-post-tax-term\">Buying Your First Home<\/a>","<a href=\"https:\/\/www.rbcroyalbank.com\/en-ca\/mmm-category\/goals-aspirations\/\" class=\"advgb-post-tax-term\">Goals &amp; Aspirations<\/a>"],"unlinked":["<span class=\"advgb-post-tax-term\">Buying a Home<\/span>","<span class=\"advgb-post-tax-term\">Buying Your First Home<\/span>","<span class=\"advgb-post-tax-term\">Goals &amp; Aspirations<\/span>"],"slug":"rbc_mmm_category","name":"Categories"},"ep_custom_result":{"linked":[],"unlinked":[],"slug":"ep_custom_result","name":"Custom Results"}},"series_order":"","jetpack_sharing_enabled":true,"primary_tag":"550","primary_rbc_mmm_category":"336","_links":{"self":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/94963","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter"}],"about":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/types\/rbc_my_money_matter"}],"author":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/users\/319"}],"version-history":[{"count":14,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/94963\/revisions"}],"predecessor-version":[{"id":94988,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/94963\/revisions\/94988"}],"up":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_my_money_matter\/57283"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media\/94974"}],"wp:attachment":[{"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/media?parent=94963"}],"wp:term":[{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/tags?post=94963"},{"taxonomy":"rbc_content_type","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_content_type?post=94963"},{"taxonomy":"rbc_audience","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_audience?post=94963"},{"taxonomy":"rbc_lob_group","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_lob_group?post=94963"},{"taxonomy":"rbc_difficulty_level","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_difficulty_level?post=94963"},{"taxonomy":"rbc_mmm_category","embeddable":true,"href":"https:\/\/www.rbcroyalbank.com\/en-ca\/wp-json\/wp\/v2\/rbc_mmm_category?post=94963"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}