North Ridge Creativity Zone at Saskatchewan Polytechnic

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North Ridge Creativity Zone at Saskatchewan Polytechnic

A $500,000 gift from North Ridge co-owners Wally and Colleen Mah will support Saskatchewan Polytechnic’s Time to Rise campaign and its new Joseph A. Remai Saskatoon Campus. In recognition of their contribution, Sask Polytech’s Early Childhood Education program will feature the North Ridge Creativity Zone.

Designed for collaborative, hands-on learning, the North Ridge Creativity Zone will help students develop practical skills as they prepare for careers in early childhood education. It will be part of a new campus built to offer contemporary learning spaces and serve more students.

Investing in Saskatchewan’s Future Educators

For Wally and Colleen, supporting early childhood education reflects their belief in the value of learning and its role in childhood development. Their gift will help create a space where future educators can learn together and prepare to work with Saskatchewan’s youngest learners.

The Mahs have a longstanding connection to Saskatchewan Polytechnic. Both received honorary degrees from the institution in 2012, and Colleen serves on the Time to Rise campaign committee.

North Ridge Creativity Zone at Saskatchewan Polytechnic

At North Ridge, we’re proud to see Wally and Colleen support an educational space that will benefit students and the communities they go on to serve.

Read Saskatchewan Polytechnic’s announcement.

September 22, 2026

Homeowners Have Spoken: North Ridge Ranked #1 in Canada for Customer Experience

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Choosing a homebuilder is one of the biggest decisions you’ll make—and there’s no better endorsement than hearing directly from homeowners themselves.

We’re proud to share that North Ridge Saskatoon has been recognized as the #1 Single Family Production Builder in Canada for Customer Experience and Homeowner Satisfaction, earning the prestigious 2026 AvidCX Diamond Capstone Award.

Selected from hundreds of homebuilders across North America, this award recognizes builders who consistently deliver exceptional homeowner experiences over time. What makes this recognition especially meaningful is that it is based entirely on verified homeowner feedback and survey results.

In addition, North Ridge also received the 2026 AvidCX Gold Award for Saskatchewan, recognizing the highest customer experience scores in the province for multi-family homes based on homeowner move-in surveys.

These awards reflect what matters most to us—creating an exceptional experience for every homeowner. From your first visit to move-in day and beyond, our team is committed to providing quality craftsmanship, transparent communication, and outstanding customer care every step of the way.

Whether you’re purchasing your first home, upgrading to meet your family’s needs, or investing in your future, you can feel confident knowing you’re choosing a builder recognized by homeowners themselves.

 

Frequently Asked Questions About the AvidCX Awards

What are the AvidCX Homebuilder Awards?

The AvidCX Homebuilder Awards recognize homebuilders across North America who deliver exceptional customer experiences. The awards are based on verified homeowner feedback collected through surveys, making them especially meaningful because they reflect real experiences from people who have purchased and lived in their homes.

Why does this award matter when choosing a homebuilder?

Buying a home is a major decision, and homeowner feedback can be one of the most trusted ways to understand what the experience may be like. These awards help buyers identify builders who are consistently recognized for quality, communication, service, and overall homeowner satisfaction.

How are the AvidCX Awards determined?

The awards are based on survey results from homeowners at key stages of their homeownership journey. These surveys measure the customer experience, including satisfaction during move-in, communication, service, and the overall buying and ownership experience.

What is the AvidCX Capstone Award?

The AvidCX Capstone Award recognizes builders who have demonstrated long-term excellence in customer experience. It highlights builders who continue to deliver strong homeowner satisfaction results over time, based on year-end homeowner survey feedback.

What is the AvidCX Gold Award?

The AvidCX Gold Award recognizes builders with the highest customer experience scores in their region during the move-in period. For homeowners, this means the award is connected directly to feedback from people who have recently gone through the homebuying and move-in process.

Why is verified homeowner feedback important?

Verified homeowner feedback gives future buyers a clearer picture of what they can expect. Instead of relying only on advertising or builder claims, these awards are based on real survey responses from homeowners who have experienced the process first-hand.

What does this recognition mean for North Ridge homeowners?

For North Ridge, this recognition reflects our ongoing commitment to building quality homes and creating a positive experience for every homeowner. From the first conversation to move-in day and beyond, our goal is to provide thoughtful guidance, clear communication, and dependable service throughout the homeownership journey.

How can I learn more about North Ridge homes?

If you’re exploring your next home, we invite you to browse our available homes, visit one of our show homes, or connect with our sales team. Whether you’re looking for a single-family home, townhome, or condo, our team is here to help you find the right fit.

June 23, 2026

North Ridge Developments Celebrates Six Wins at the 34th Annual SRHBA Awards

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At North Ridge Developments, we are proud to celebrate a memorable evening at the 34th Annual Saskatchewan Regional Home Builders’ Association (SRHBA) Awards, where our team was recognized with six award wins.

These awards are a meaningful recognition of the dedication, creativity, and collaboration that go into every home and community we build. More importantly, they reflect the trust that homeowners place in us when choosing North Ridge to build a place they can call home.

For over 40 years, North Ridge has been committed to building quality homes and creating vibrant communities across Saskatchewan. From thoughtfully designed townhomes and condominiums to award-winning detached homes, our goal has always been to deliver an exceptional experience for our homeowners while building communities where families can thrive.

Our 2026 SRHBA Award Wins

We are honoured to have received recognition in the following categories:

  • Multi-Family Builder
  • Environmental Leadership
  • Large Volume Builder
  • Best Renderings
  • Best Detached Production Home (1801–2100 sq. ft.)
  • Best Townhouse Project (50+ Units)

 

The SRHBA Awards bring together builders, developers, trades, suppliers, and industry professionals from across Saskatchewan to celebrate excellence in residential construction and community development. The 34th Annual Awards was an outstanding event that highlighted the innovation, craftsmanship, and dedication that continue to strengthen our industry.

While we are grateful for these achievements, they represent more than awards. They reflect the collective effort of the people behind North Ridge and the relationships we have built with our homeowners over the years.

We extend our sincere thanks to the entire North Ridge Developments team for their hard work, expertise, and commitment to excellence. We would also like to thank our homeowners and customers for the trust they place in us. Being part of your homeownership journey is a privilege, and your support continues to inspire us to do our best work every day.

We would also like to thank the SRHBA for hosting such a well-organized and memorable evening. It was an honour to celebrate alongside so many talented professionals who are helping shape communities across Saskatchewan.

As we reflect on these accomplishments, we remain focused on what matters most: building quality homes, creating vibrant communities, and delivering an exceptional experience for the people who choose North Ridge.

Thank you to everyone who has been part of our journey. We look forward to continuing to build homes, communities, and lasting relationships for many years to come.

February 10, 2026

Maximize the SSI Grant in Brighton — Your Opportunity to Build a Legal Suite Before the Program Ends

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Brighton continues to be one of Saskatoon’s most desirable neighbourhoods—vibrant, modern, and filled with amenities that make everyday living easier. And right now, homebuyers looking to live or invest in Brighton have a unique advantage: the ability to benefit from Saskatchewan’s Secondary Suite Incentive (SSI) Grant before it ends on March 31, 2026.

At North Ridge Development, many of our Brighton homes are designed to support legal suite development—making it easier for buyers to qualify for the grant while gaining long-term financial flexibility.

 

What Is the SSI Grant?

The Secondary Suite Incentive (SSI) Grant is a provincial program offering financial support to homeowners who build a new, legal secondary suite. It helps offset the cost of construction and encourages housing solutions that benefit families, investors, and the broader community.

Key advantages include:

  • Coverage of up to 35% of eligible construction costs
  • Support for creating legal, code-compliant suites
  • Long-term rental income potential to help offset mortgage payments
  • For many Brighton buyers, this can significantly improve affordability while adding long-term value to their investment.

 

Important Deadline: March 31, 2026

To qualify for the SSI Grant, all eligible suite construction costs must be incurred before March 31, 2026.

This means buyers need to:

  • Select a home early enough to allow suite construction to begin before the deadline
  • Choose models that already include features supporting future suite development
  • Consider homes already under construction, which offer the best chance to meet the eligibility timeline
  • With the deadline approaching, now is the ideal time to secure a Brighton home that aligns with the grant requirements.

 

North Ridge Homes in Brighton Designed for Suite Potential

In Brighton, we offer thoughtfully planned two-storey home models that include:

  • Separate basement entries
  • Smart layouts that support legal basement suite development
  • Homes currently under construction, giving buyers the opportunity to begin eligible work sooner
  • Popular Brighton home models that work well for suite development include:
    Logan, Oliver, and Elias—each crafted with flexibility, value, and long-term function in mind.
  • When you purchase one of these homes in Brighton, you’re positioned to take advantage of the SSI Grant while also enjoying a modern, dynamic neighbourhood.

 

Why a Secondary Suite Makes Sense in Brighton

Brighton is a growing, in-demand community—perfect for families, renters, and professionals. A legal secondary suite here offers exceptional benefits:

✔ Additional Income – Earn rental income to help reduce your monthly mortgage.

✔ Flexible Living – Use the suite for extended family, aging parents, or guests.

✔ Higher Long-Term Value – Homes with legal suites often appeal to a wider market and offer stronger resale potential.

✔ Strong Demand in a Popular Community – Brighton’s amenities, parks, shopping, and overall appeal make rental units highly desirable.

 

Is the SSI Grant Right for You?

This grant is ideal for:

  • Buyers wanting to offset their mortgage with rental income
  • Investors looking to enter the Brighton rental market
  • Families planning for multi-generational living
  • Homeowners focused on long-term value and flexibility
  • If Brighton is where you want to build or buy, now is the perfect time to explore your options.

 

Explore Brighton Homes Eligible for the SSI Grant

We currently have Brighton inventory homes under construction that include the essential features needed for suite development. These homes offer the best chance to incur eligible expenses before the program deadline.

Availability is limited, and as the deadline approaches, demand is expected to rise.

Start the Process Today

Ready to explore a Brighton home that qualifies for the SSI Grant?

📞 Contact our sales team
📧 Book a viewing
🏡 Tour our Brighton floor plans designed for secondary suites

With North Ridge, you’re not just buying a home—you’re investing in a smarter, more flexible future.

 

November 19, 2025

What is an EnerGuide Rating and why should you care?

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Before you buy a new home, there are a few things you have to look into – from budget and location to all the other details. Apart from the aesthetics, it is important to consider how energy-efficient and comfortable your home could be. Wondering how to figure out a home’s energy efficiency without actually living there? It’s pretty simple – just ask for its EnerGuide rating! EnerGuide ratings are your go-to source for valuable information to help you make the right decision.

What is an EnerGuide Rating?
EnerGuide is Canada’s energy rating and labelling system that certifies the energy efficiency of new and existing homes. With EnerGuide, you can compare and evaluate the performance and energy efficiency of your new home before moving in.

An EnerGuide label indicates a rating that will help you better understand your home’s energy performance, which may help you lower your energy use. It is an official record of your home’s energy performance and may help increase its resale value in the future. The labels show the gigajoules (GJ) per year that a home uses. GJs per year is a unit of measurement for energy on an annual basis. The higher the GJ per year, the less efficient the home is. The closer to zero the GJ per year measurement is, the more efficient the house is. Homes that produce as much energy as they use will have a rating of zero and these are called Net Zero Homes, a whole other topic for a different blog post!

What are the benefits of purchasing an EnerGuide-rated home?
There are a number of direct benefits to YOU, the homeowner:
1. Saving money on utility bills – If the home has a good EnerGuide rating, over time it will translate into savings on your utility bills. The less energy your home uses, the lower charges on your monthly bill.
2. Incentive Programs designed for homes with good EnerGuide rating – With the CMHC Eco Plus Program or the Sagen Energy Efficient Housing Program, you can get a 25% rebate on your mortgage insurance. That’s roughly $1,000 back for every $100,000 financed on your home. That’s thousands of dollars right in your wallet!
3. Ability to Compare Homes – Think of the EnerGuide program as a tool in your back pocket to help you when shopping for a home. You can easily compare one home to another in terms of how energy-efficient they are.
4. Reduce your Environmental Footprint – By purchasing a higher EnerGuide rating home, you are reducing your environmental footprint.
5. Third-party verification – The EnerGuide program checks the energy-efficient aspects through a third-party company. This independent assessment is performed by a trained and licensed company that rates the home, giving you further peace of mind.
6. A Better Home for your family – a more comfortable, quieter and healthier home for your family to live in.

Purchasing a home with an EnerGuide rating offers so many advantages! It ensures that your home is energy efficient, cost-effective, and environmentally friendly. To start looking for the perfect new home, visit Our Homes today!

January 26, 2023

Winter Home Maintenance Checklist

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It may feel like it’s already winter here in Saskatchewan, but technically, it’s just beginning. These helpful tips below will help you prepare your home and keep it in great shape while the temperature drops and keep your family safe and warm this winter!

Exterior:

• Remove ice and snow from concrete promptly. DO NOT USE SALT FOR DE-ICING. You can use gravel or crusher dust or sand instead. Many ice melt products sold in hardware stores will pit and permanently damage your concrete. Check the fine print, anything that may cause spalling will likely damage your concrete.
• Shoveling snow away from your home’s foundation is a quick and simple way to prevent expensive foundation damage. Shovelling the snow away from the base of your home will help reduce the risk of water seeping up and settling under the foundation, which can cause cracks and other costly problems.
• Prevent ice dams on low-positioned roofing by removing snow and scraping the gutters. If you ignore ice dams, water penetration may happen and your shingles might get damaged.
• Continually check your air intake and exhaust vents for the furnace, HRV and hot water tank and ensure they are clear of snow and ice all throughout the season. Make sure to brush off snow or remove any ice buildup.

Interior:

• To maximize your furnace’s performance and keep it running smoothly, check filters every month and replace them as needed. Having a dirty filter means your furnace has to work harder to push the heat, which prevents it from running efficiently. It can also cause your furnace to completely shut off causing unwanted expenses.
• Check the basement floor drain to ensure the trap contains water – top up if necessary.
• Check for cracked or worn weather stripping, and replace it with new, more efficient stripping. If the caulking is looking worn, remove it and re-caulk with a moisture-resistant product. This will help keep the cold from entering your home, which in turn helps to reduce your heating bill.
• If you have a plumbing fixture that is not used frequently, such as a laundry tub or spare bathroom sink, run some water briefly to ensure there is water in the trap every month.
• Clean drains in dishwashers, sinks, bathtubs, and shower stalls.
• Test plumbing shut-off valves to ensure they are working and prevent them from seizing.
• Check and vacuum your HRV vents to remove grime and used canned air to clean your smoke and CO alarms to ensure they are working properly.
• Make sure your refrigerators and freezers are running properly by vacuuming the radiator grilles on the back of them.
• Check electrical cords, plugs and outlets for all indoor and outdoor seasonal lights to ensure fire safety. If worn, damaged or if the cord feels warm to the touch, replace it immediately and dispose of the damaged cord.
• Decorate safely for the holidays. Do not overload your circuits or use worn or frayed extension cords.
• Check the pressure gauge on all fire extinguishers and recharge or replace them if necessary.
• Check fire escape routes, door and window locks, hardware, and lighting around the outside of the house. Ensure every family member has a solid understanding of what to do in the event of a fire.

We hope these tips will help you keep your home as cozy and safe as possible during the winter months. Click here to download a PDF copy: Winter Checklist

December 12, 2022

The Smart Way to Get Fresh Air in Your Home

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Fresh air is one of the most essential components of a good living space. It is imperative to have good ventilation in your home as this will help avoid respiratory problems and improve the overall quality of your home life. A good way to ensure fresh air in your home is by installing a Heat Recovery Ventilator, which comes standard in all North Ridge homes.

What is Heat Recovery Ventilator and how does it work?

A Heat Recovery Ventilator (HRV) is a type of ventilation system that exhausts stale air from your home and replaces it with fresh outside air. It is an energy-efficient, cost-effective and environmentally friendly way to provide fresh air to your home. This type of ventilation system works by drawing in air from the outside and passing it through a heat exchanger, which extracts heat from the outgoing air to warm the incoming air before it enters the furnace which then distributes this fresh air throughout your home. This process creates a constant flow of fresh, filtered air in your home.

What are the benefits of a Heat Recovery Ventilator?

HRV systems can provide a number of benefits to the homeowner. These include improved indoor air quality, reduced energy costs, and better humidity control. Because HRV systems are designed to exchange stale air from the home and replace it with fresh outside air, it removes contaminants such as smoke, chemicals, and dust particles. One of the main benefits of an HRV is to control humidity during the winter season by removing moist air from your home and replacing it with dryer outside air to avoid condensation on windows and reduce the possibility of mould growth.

How to Maintain your HRV

HRV systems are most effective when they are properly cared for. Maintaining your HRV system includes performing routine inspections, checking for leaks, and cleaning your filters regularly. The following practices are generally recommended for maintenance:
• Dust your HRV filters and rinse with lukewarm water every 3 months. Let it completely dry and never reinstall a wet filter.
• Rinse the HRV’s core with water once a year. Let it completely dry and never install a wet core.
• Wipe away any dust and debris from drains at the bottom of the unit every time it is opened.
• Check outdoor intake and exhaust hoods – remove leaves, waste, or other obstructions that may be blocking the outside vents of your HRV. Without this airflow, your HRV will not function properly. During winter, make sure to clear any snow, frost or ice buildup blocking outside vents.

A Heat Recovery Ventilator is a great way to make your home more comfortable. It can save you money on heating and cooling costs, and it improves the air quality in your home.

November 18, 2022

DIY Halloween Decorations

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Halloween is a time of year when both kids and adults get to have fun and be creative with spooky decorations. You can go all out or you can keep it simple by adding some inexpensive DIY items to your home. If you are looking for a few ideas for your Halloween home decoration, then this blog is for you! We have compiled four of the best and easy DIY decorations you can do for your home.

1. Yarn Spider Webs

Spider web Halloween decorationSpider webs are a staple of the Halloween season. They are easy to make and all you need is yarn and tape. Choose the perfect spot, whether indoors or outdoors and consider a location that will allow the web to stand out. To make the spider web, start by making an X, a few crisscross lines and a vertical line from the top to the bottom of your web. Cut a long strand of yarn for each section, fold equally and start your first ring with a simple loop knot. Take the yarn around to each arm and loop it around. When you get back around to the beginning of the ring, tie the end with a knot, cut off the excess and start over on the next ring. Continue the process to create as many rings as you like. Add spiders to the giant yarn spider web and you are all set!

2. Tombstones
The easiest way to make your home look like a graveyard is to get some fake tombstones. To create fake tombstones, buy some Styrofoam blocks or use cardboard boxes that you have lying around. Cover them in black construction paper and draw a skull or write ‘RIP’ on each block with white paint. Use tape to attach the blocks together and make sure they stand up straight or attach them to the base of a tree.

 

3. Jack-O-Lantern
When you think of Halloween decorations, Jack-o-lantern is for sure one of the first things that will come to mind. This is a great family activity and you can get as creative as you like!
To make a Jack-o-lantern Halloween decoration, first things first, get a pumpkin or other type of squash and cut off the top. Then, scoop out all the seeds and pulp from inside, but leave enough so that you can see through it. Carve out the pumpkin – add some eyes and a mouth (the scarier the better). Place a battery-operated tea light inside and, voila! You have your very own jack-o-lantern to light up your porch or windowsill.

4. Yard Ghosts

Spider web Halloween decorationDIY yard ghost Halloween decoration is a great alternative to store-bought decorations. It is easy to make, and you can use it year after year. If you have large trees on your property, stuff the leaves you have raked into large white garbage bags, draw black eyes on them and scatter them throughout the yard. Alternatively, you can also create yard ghosts by using a white balloon, white thread, white cloth or fabric, black marker, scissors and glue. Blow out the balloons that will serve as the head. Then, tie a knot to your balloon with the thread and drape the white fabric on top covering it entirely. Make a small incision on the cloth so that the securing knot is visible. Now, you can use the black marker to paint some dark circles on the ghost’s face. The final step is to use the thin white thread to tie the ghost decoration to the ceiling or to an elevated surface so that you can get the full-on floating effect.

There you have it, 4 easy DIY Halloween decorations that will create a spooky atmosphere in your own home. Happy Halloween!

October 19, 2022

Fall Preparation Guide

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I know I know… I also have been trying to avoid the fact that summer is really over. (Hope you enjoyed your summer!) School already started, stores are already selling Halloween treats and Christmas decorations, leaves are starting to change colours, there is pumpkin spice everywhere and the weather is so unpredictable. Days are getting shorter and shorter and although it is often warm and sunny during the daytime, it can be cold at night and early in the morning.
As the season begins to change, it is time to blow out your sprinklers, trade your lawn mover for a rake and prep your home for cooler weather. Here is a quick checklist of things to do before your house transitions from hot summer days, to cool fall nights and eventually to freezing temperatures.

OUTSIDE:

☐ If your window screens are inside, remove them to allow for adequate airflow of the heating system to keep condensation off your windows.
☐ Ensure all exterior doors and windows are closed tightly; repair or replace weather stripping and dust pads as needed.
☐ Cover outside of air conditioning units and shut power off to the device.
☐ Ensure the ground around your home slopes away from the foundation wall so that water does not drain into your basement. Touch-up as required to maintain positive drainage.
☐ Clean eaves troughs and roof ensuring proper drainage from the downspouts.
☐ Clean out window wells of garbage.
☐ Blow out underground sprinklers and store outdoor hoses. Close interior valve to outdoor water connection. Drain the hose bib and leave it partially open.
☐ Store outdoor furniture, prepare gardens and protect young trees and shrubs for the upcoming winter.

INSIDE:

☐ Check sump pump to ensure proper operation
☐ Test and reset the ground fault circuit interrupters (GFI) breakers
☐ Set humidifier as per the manufacturer’s instructions for the winter setting
☐ Set the thermostat to “heat” and test the furnace for proper operation by raising the thermostat setting until the furnace starts to operate.
☐ Have furnace and heating system serviced by a qualified company every two years
☐ If you have central air conditioning, ensure the drain pan under the cooling coil mounted in the
furnace plenum is secure and draining correctly.
☐ Remove grilles on forced air systems and vacuum inside the ducts.
☐ Check your furnace air filters monthly and replace them as needed
☐ Check and clean the HRV (Heat Recovery Ventilator) core
☐ Check to see that the ductwork leading to and from the heat recovery ventilator is in good shape and the joints are tightly sealed.
☐ Adjust registers and confirm that cold air returns are clear of furniture or draperies
☐ Vacuum smoke and carbon monoxide; replace batteries if required.
  If you have a door between your house and the garage, check the adjustment of the self-closing device to ensure it closes completely.

Click here for a downloadable PDF: Fall Checklist

September 30, 2022

3 Easy Steps To Save For Your Mortgage Down Payment

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Saving for a down payment for a home isn’t always easy, but it’s not as difficult as you think. Whether you are a first-time buyer or returning to homeownership, saving for a down payment can seem overwhelming! Purchasing new or used? The more of a down payment you put down, the better your options are and the amount you invest can affect your mortgage rates.

Minimum down payment requirements:
For new homes that cost up to $500,000, the minimum down payment is 5%
For new homes that cost more than $500,000 and less than $1 million, the minimum down payment is 5% of the first $500,000 plus 10% of the remaining balance
You might need some help from a financial expert, but these three easy steps could be an excellent way to start.

Step 1. Create a Budget & Cut Unnecessary Spending
There are many ways to save money and it really can be as easy as packing your own lunch instead of eating out or riding your bike to work during the summer months. However, if you want to get serious about cutting your expenses and saving more money, then follow these two things:
1) Create a budget and stick to it – this will help you see where your money is going and what areas need improvement. Set a monthly savings goal, track your success and make sure you stick to your set budget.
2) Cut unnecessary spending – Think about the ways you can reduce your spending. Bring lunch to work or buy second-hand clothes and toys. Think about cost-saving options like borrowing books from the library or taking a staycation.

Step 2. Get Rid of Unwanted Debt from Your Life
Paying down debt can seem like an endless struggle but, with some self-discipline and faith in yourself, your financial picture can change for the better in just a matter of months. The key to success will be to establish a debt plan and stay committed.
With the budget you’ve created, you’ll determine if you have a surplus, which you can put towards paying off your debt; or a shortfall, which means it might be necessary to cut back on regular expenses. Reduce your debt by controlling your expenditures and paying off your high-interest debts as they will be the most expensive over time.

Step 3. Utilize Programs Available
There are different programs and incentives available that can help you save money for your down payment.
Registered Retirement Savings Plan (RRSP) – If you have an RRSP, you can withdraw up to $25,000 to buy your first home. The only catch to this program is that you have to pay the money back to your RRSP within 15 years. If you do not repay the money, it is treated as income and you will have to pay tax on the money you withdrew as though it were income.
Tax-Free Savings Account (TFSA) – this lets you grow your savings without paying income tax and withdraw whenever you wish — making it a great place to set aside your savings for a big purchase, such as buying a new home. Regardless of your income, investment in this account does not affect your income taxes. Currently, Canadians can contribute up to $6,000 but that limit can change so double-check before you contribute.
First-Time Home Buyer’s Incentive (FTHBI) – If you have put aside at least 5% of the purchase price of a home, the government can give you an incentive of an additional 5% – 10%. These additional funds will increase your down payment, which would then lower your monthly mortgage payments. However, there are some strict conditions to qualify for the FTHBI. You must be a Canadian citizen or permanent resident and a first-time homebuyer. Your income cannot exceed $120,000 unless you are buying in Toronto, Vancouver or Victoria, where the cap is $150,000. This program is a shared-equity mortgage, so the government has a share in any increases or decreases in the property value.

Saving for a down payment can be daunting, but it is worth it in the end. If you can set aside a little extra money each month, it will go a long way toward achieving your home ownership dreams!

August 25, 2022