If you live in or around Kingston, Amherstview, or Odessa, you've probably noticed how many new subdivisions have popped up in recent years—Woodhaven, Loyalist, and others are full of back hoes, fresh lawns, and "Just Listed!" signs. And now, there's a major new development: on March 25, 2026, the Ontario and federal governments jointly announced a significant expansion of the HST rebate on newly built homes. It's the kind of policy that's creating buzz at open houses and kitchen tables all over the region—and if you're thinking about buying or selling, the details matter.

The Big Win for New-Home Buyers

The rebate is designed to ease affordability challenges by refunding the full 13% HST on new-construction purchases for eligible homes. For homes valued up to $1 million, buyers can save up to a maximum of $130,000—making a brand-new home suddenly more within reach. That maximum $130,000 rebate is also maintained for homes priced between $1 million and $1.5 million, though it no longer offsets the full HST bill at those prices. For homes between $1.5 million and $1.85 million, a declining partial rebate still applies.

For local buyers eyeing that four-bedroom in Woodhaven or a townhome in Amherstview, this could be a real advantage, especially when every extra bit of savings helps offset rising borrowing costs.

Important: this rebate is temporary. To qualify, your purchase agreement must be signed between April 1, 2026 and March 31, 2027—a one-year window. If you're considering a new build, timing is everything.

Who Qualifies?

This is a meaningful expansion from previous programs. Before this announcement, the more generous HST rebate was only available to first-time buyers purchasing a home as their primary residence. The new program extends eligibility to:

• Repeat buyers purchasing a new home as their primary residence

• Some investors purchasing properties for long-term residential rental use (subject to specific construction and completion deadlines)

One important caveat: the changes are part of Ontario's 2026 Budget and are subject to passage of federal legislation. The core structure is clear, but some finer application details are still being confirmed. Buyers should treat their purchase agreement as a tax document and work closely with their builder, lawyer, and accountant to ensure they qualify.

The Challenge for Sellers of Nearly-New Homes

For sellers in newer subdivisions, things are getting more competitive. Think of homeowners who bought only a couple of years ago and are now looking to move. They're listing their resale home, but builders just down the street have shiny, never-lived-in models with a rebate of up to $130,000 attached.

That puts resale homes—especially those built within the last five years—in a tougher position. Buyers comparing options might find the rebate on a new build too tempting to pass up. Sellers will need to highlight their home's advantages—like finished basements, mature landscaping, established neighbourhoods, or quicker move-in timelines—to stand out from the crowd.

A Changing Kingston Market

Locally, this could shift some demand toward new-build communities like Woodhaven, Lakeside Ponds, or Riverview. Resale homes nearby may need sharper marketing strategies and price positioning to remain competitive. But the overall upside is that more buyers—not just first-timers—might find a pathway into homeownership, which is a welcome development in a market that desperately needs options.

Final Thoughts

This rebate is one of the most significant housing affordability measures Ontario has seen in years, and the one-year window means the next twelve months could be unusually active for new construction sales in Kingston and the surrounding area. Whether you're a buyer trying to time your purchase, or a seller figuring out how to position your home in a changing market, now is a great time to get informed and get moving.

Disclaimer: This article is for informational purposes only and should not be considered financial or legal advice. The HST rebate program is subject to federal legislation and eligibility conditions that may evolve. Every buyer and seller's situation is unique. If you'd like to understand how the HST rebate might affect your next move, reach out—we can connect you with trusted mortgage and legal professionals who can offer tailored guidance.

1. Introduction: The Down Payment Hurdle

In the current real estate climate, the "rent trap" is a reality for many hardworking residents of Kingston and Frontenac County. The challenge isn't usually the ability to carry a monthly mortgage; it’s the monumental task of saving a five-figure down payment while simultaneously battling rising rental costs. As a real estate agent, I’ve seen many potential buyers sidelined simply because they lack that initial capital injection.

The 2026 Kingston and Frontenac Home Ownership Program is the transformative solution we’ve been waiting for. This isn't just a grant; it’s a strategic "leg up" designed to move you from the sidelines into your own front door. By dismantling the down payment barrier, the City is providing a path to equity that would otherwise take years—or even decades—of disciplined saving to achieve.

2. Takeaway 1: A Substantial Financial Head Start

The core of this program is a powerful boost to your purchasing power. By providing a significant portion of your down payment, the program increases your leverage with lenders and can substantially lower your monthly carrying costs by reducing your total mortgage principal.

"The maximum funding is 10 per cent of the home's purchase price, up to $37,500."

From a strategist's perspective, $37,500 is more than just cash—it’s a way to potentially avoid high-ratio mortgage insurance premiums or to qualify for a more stable home that fits your long-term needs. This funding allows you to enter the market sooner, capturing appreciation early rather than chasing a moving target.

3. Takeaway 2: The 20-Year Path to Forgiveness

The structure of this assistance is unique and requires a long-term mindset. It is not a gift, but an investment in your residency within our community.

"It is a 20-year interest-free forgivable loan registered on the property's title."

Strategic Insight: You must view the City as an equity partner. If you remain in the home as your principal residence for the full 20 years, the loan is forgiven entirely—a 100% gain for you. However, if you sell or move out before that 20th anniversary, the "gotcha" applies: you must repay the original loan plus 10% of any capital appreciation. Essentially, if your home’s value grows, the City shares in that profit. The winning strategy here is clear: buy a home you can see yourself in for two decades to keep every cent of that equity for yourself.

4. Takeaway 3: Broad Eligibility with Strict Guardrails

The program is designed for modern, middle-income households, but the criteria are rigid. I must highlight that this program is strictly for those who can qualify for a mortgage on their own merit.

• Residency & Status: You must currently live in Kingston or Frontenac County and be a Canadian Citizen or Permanent Resident.

• First-Time Buyer: You cannot currently own property or have participated in this program previously.

• Income Caps: Gross household income is capped at $95,000 for one-person households and $130,000 for two-person households.

• Asset Limit: Your combined assets must not exceed $50,000.

Strategic Warning: The Co-Signer Ban

One of the most critical "deal-breakers" in the guidelines is that applications supported by a co-signer or guarantor are ineligible. You must be able to secure a mortgage pre-approval from an approved lender (bank, credit union, or MIC) based solely on the income of the residents who will live in the home. Additionally, be aware that while RRSPs and RESPs are exempt, funds in TFSAs and FHSAs are included in your $50,000 asset limit.

5. Takeaway 4: Flexibility and Its Limits

The program covers a wide range of lifestyles, with a maximum purchase price of $500,000. Eligible units include detached homes, semis, townhouses, and condominiums. However, there are several exclusions and requirements you must plan for:

• Ineligible Properties: Mobile homes and multi-residential properties do not qualify.

• The Inspection Rule: For all resale homes, a professional home inspection is mandatory, and you must provide the report to the City.

• Program Exclusions: This funding cannot be combined with the Kingston-Frontenac Renovates Program.

Pro Tip: Do Not Sign Prematurely

Applicants who make an official offer on a property before receiving written application approval are automatically disqualified. You must have your Letter of Conditional Approval in hand before you sign an Agreement of Purchase and Sale.

6. Takeaway 5: The "First-Come, First-Served" Clock

This is a high-stakes race. Funding is limited, and the clock starts on Wednesday, April 1, 2026, at 8:30 a.m.

The most important strategic advice I can give is this: An incomplete application is a wasted application. You will not secure a spot in line until every piece of documentation is submitted. Use the time leading up to April to gather your "Submission Ready" folder:

• Proof of Status: Birth certificates or Passports for all owners.

• Tax Records: 2024 or 2025 Notices of Assessment (NOA) for all adults.

• Bank Statements: The two most recent months for all accounts (including TFSA/FHSA).

• Mortgage Pre-Approval: A signed letter from an approved lender (no private/unregulated lenders).

"Approved applicants... have 90 days to provide a purchase agreement; the closing date of the purchase may be beyond the 90 day date."

Once you are approved, you have a 90-day window to find your home. If you miss this window, the funding commitment is withdrawn.

7. Conclusion: Moving Toward Your Future

The 2026 Home Ownership Program is a rare opportunity to bypass the hardest part of the home-buying process. By staying the full 20 years, you aren't just securing a roof over your head; you are executing a financial strategy that builds significant wealth for your future.

As you prepare for the April 1st deadline, ask yourself: Where could you be by the 20th anniversary of your first home? With $37,500 in assistance and a clear-eyed strategy, that future is closer than you think.

Ready to start? We can help!

• Visit the City of Kingston website to learn more

• Contact us and we will connect you with a lender so that you can start your pre-approval

• Let’s meet for a buyer consultation - this will prepare you to search and find a home that meets all the program criteria

Kingston Homes <$500,000

Frontenac Homes <$500,000

If you already own a home in Kingston and area and you’re thinking about moving, you’re not alone in feeling unsure about the logistics.

We hear this all the time:
“I’d move… but how does it actually work if I have to sell and buy at the same time?”

The good news? It’s completely manageable. The key is understanding the sequence, the risks, and your options before you jump in.

Here’s how we guide our clients through it.

 Step 1: Start With a Clear Game Plan

Before you look at homes, we recommend sitting down and mapping out:

• Your home’s likely market value

• Your estimated net proceeds after closing costs

• Your mortgage situation (penalties, portability, timelines)

• Your ideal timing

We’ll leave financial advice to your mortgage broker or financial advisor, but from a real estate perspective, clarity is everything. When you know your numbers, you make better decisions.

Step 2: Decide Your Order of Operations

There are generally three approaches:

Option 1: Sell First, Then Buy - The most conservative approach.

Pros:

• You know exactly how much money you have.

• No risk of owning two homes.

• Strong negotiating position when buying.

Cons:

• You may need temporary housing.

• You may feel pressure to find something quickly.

This works especially well in balanced or slower markets.

 Option 2:  Buy First, Then Sell - Higher risk, higher flexibility.

Pros:

• You secure the home you love.

• No need for temporary housing.

Cons:

• You may carry two properties.

• Financing can be more complex.

• Pressure to sell quickly.

This can work in a strong seller’s market — but it requires careful planning.

 Option 3:  Conditional Purchase (Sale of Buyers’ Property Clause)

You make an offer on a new home conditional on selling your current one.

Pros:

• Reduces financial risk.

• Protects you from owning two homes.

Cons:

• Less competitive in multiple-offer situations.

• Some sellers won’t accept this condition.

This approach depends heavily on current market conditions in Kingston and area.

Our Best Advice: Don’t Close Both Transactions on the Same Day

We strongly advise against closing your sale and purchase on the exact same day.

Here’s why:

• If funds from your sale are delayed (even by hours), your purchase can’t close.

• A delay in the buyer’s financing can ripple into your purchase.

• Movers can’t unload if keys aren’t released.

• You could end up in a legal and financial mess that’s completely avoidable.

Instead, we typically recommend closing your sale first and your purchase a few days later.

Yes, that means a short gap.
Yes, it may require temporary storage or creative moving logistics.

But that small buffer dramatically reduces stress and risk.

In our experience in Kingston and surrounding communities, that cushion is worth it every time.

 What About Bridge Financing?

If you’ve sold your home firm and purchased another, but the closings don’t align perfectly, your lender may offer bridge financing.

Bridge financing can:

• Allow you to access equity from your sale early.

• Help you close on your new home before your sale funds arrive.

Your mortgage broker is the right person to advise you here, and we’re always happy to connect you with trusted local professionals.

 What Makes This Process Easier

In Kingston and area — whether you’re moving within the city, heading to Amherstview, Napanee, Gananoque, or beyond — smooth transitions usually come down to preparation and coordination.

Here’s what truly helps:

• Pre-listing prep before you shop. Get your home photo-ready, staged, and market-prepared early so you can move quickly once you find the right property.

• Clear pricing strategy. Overpricing delays your ability to buy confidently. Strategic pricing gives you control over timing.

• Flexible closing dates built into negotiations. We negotiate timelines intentionally to reduce overlap risk.

• Strong communication between all parties. Realtors, lawyers, lenders, and buyers all need to be aligned. We stay in front of those conversations so you’re not chasing updates.

• A backup plan. Temporary accommodation, short-term storage, or family support options are discussed before they’re needed — not during a crisis.

• Realistic market expectations. Understanding inventory levels and competition prevents rushed decisions.

When you plan ahead, the process feels organized instead of overwhelming.

Bottom Line

Buying when you already own a home isn’t risky — doing it without a plan is.

If you’re even thinking about a move in Kingston and area this year or next, the smartest first step is a conversation.

We can map out your options, timelines, and strategy long before you list.

When you buy a home, your lender may suggest adding mortgage life insurance to your mortgage. It sounds like an easy add-on — who doesn’t want peace of mind knowing their family would be protected if something happened?

But here’s what most people don’t realize: a standalone life insurance policy usually offers better protection, more flexibility, and greater long-term value.

1. You Decide Who Benefits

With lender-provided mortgage insurance, if you pass away, the payout goes directly to your bank — not your loved ones.

When you own your own life insurance policy, your family receives the funds and decides how best to use them. They might pay off the mortgage, cover daily expenses, or invest for the future. That flexibility makes all the difference.

2. Your Coverage Doesn’t Shrink While You Pay the Same

Mortgage insurance only covers what’s left on your loan. As you pay it down, your coverage drops, but your premiums stay exactly the same — you pay the same for less.

Term life insurance works differently: the coverage amount stays level for the full term (like 20 or 30 years), no matter how small your mortgage balance gets.

3. It Ends When the Mortgage Ends

Once your mortgage is fully paid off, lender insurance disappears. The coverage ends automatically, and there’s nothing left to show for all those years of premiums.

Your own life insurance, on the other hand, continues providing coverage after the mortgage is gone. You can maintain it to help with other goals, like income replacement, retirement planning, or leaving a financial cushion for your family.

4. You Stay in Control

Mortgage insurance is tied to your lender. If you refinance or switch banks, it often ends — meaning you’ll have to reapply, and possibly pay more.

Personal life insurance belongs to you. It stays in place no matter where you bank, refinance, or live.

5. You Usually Get More for Less

Independent life insurance typically gives you more coverage for a lower premium. Instead of just protecting your mortgage balance, you can choose a policy amount that supports your family’s entire financial picture — not just the house.

6. Underwriting Happens Upfront — and That’s a Good Thing

Mortgage life insurance often has little screening upfront, but this can backfire. If you pass away, the insurer may investigate your health history and could reject the claim if something was missed.

Individual life insurance policies are fully underwritten before approval, so once your policy is in place, you can be confident your loved ones are protected — no surprises later.

The Takeaway

Mortgage life insurance may sound convenient, but it’s designed to protect the lender. A personal life insurance policy protects you and your family — ensuring your coverage stays stable, portable, and flexible, often at a lower cost.

If you’re buying a home or reviewing your mortgage, it’s worth speaking with an independent insurance advisor to find coverage that fits your life, not just your loan.

Disclaimer: We are not insurance experts or financial advisors. This information is intended for general educational purposes only and should not replace advice from a licensed insurance professional or financial planner.

If buying a home in the Kingston area is on your radar for 2026, the smartest move you can make is starting before you ever book a showing. The buyers who feel the most confident—and make the best decisions—are almost always the ones who planned ahead.

Why early planning matters

When you’ve already done the groundwork, you’re not scrambling when the right property comes along. You understand your options, you know what matters most to you, and you’re able to move forward thoughtfully instead of emotionally. That confidence makes a real difference in competitive situations and helps you avoid buyer’s remorse later.

Mortgage prep (without the pressure)

We’ll leave financial advice to your mortgage broker or financial advisor, but from a real estate perspective, clarity is key. Getting a pre-approval is a key first step. Knowing your comfortable price range, how different purchase prices affect your monthly costs, and what flexibility you have puts you in a much stronger position once you start viewing homes. We’re always happy to recommend trusted local mortgage professionals if you need a starting point.

Smart searches beat endless scrolling

One of the biggest mistakes buyers make is relying solely on public listing sites. Successful buyers are using custom, neighbourhood-specific searches that match how they actually want to live—not just how many bedrooms they need.

We help buyers fine-tune searches based on:

• Neighbourhood preferences

• School zones

• Waterfront vs. town/city vs. rural living

• Property type and long-term lifestyle goals

That way, when a new listing hits the market, you’re seeing it immediately—and you already know whether it’s worth a closer look. Not to mention Exclusive Listings that can no longer be publicly advertised. If we know what you’re looking for, we can keep an ear to the ground and give you the inside scoop. 

Local competition isn’t one-size-fits-all

Buying in Kingston looks very different from buying in Amherstview, Bath, Stone Mills, Gananoque, or the surrounding rural areas. Some neighbourhoods move quickly with multiple offers, while other areas reward patience and timing (although we know some of that is based on pricing strategy!).

Understanding these micro-markets—rather than reacting to broad headlines—is one of the biggest advantages of working with a local team that watches this market every day.

A simple first step

If 2026 is your buying year, getting set up early costs nothing and gives you clarity. A personalized home search lets you learn the market quietly, track patterns, and be ready when the right opportunity appears.

👉 Sign up for our VIP Home Search to receive listings tailored to your neighbourhood preferences, lifestyle goals, and timeline—before you ever feel rushed, or create your own custom search right here. If you’d like to book a buyer strategy session, contact us. And don’t forget to check out our free Buyer Resources and our Moving to Kingston Resources page.

Short answer: it’s helpful… but it shouldn’t hold your cheque.

If you’ve Googled—or asked ChatGPT—questions like “Is now a good time to buy in Kingston?” or “What should I list my home for?” you’re not alone. More buyers and sellers in Kingston and area are turning to AI as a kind of real estate advisor or coach.

And honestly? That makes sense.

AI is fast, available 24/7, and very good at explaining things clearly. But when it comes to one of the biggest financial decisions of your life, there are a few important limits worth knowing—especially in a market as nuanced as ours.

So let’s talk about what AI is great at… and where a human still matters.

What AI Does Really Well

Let’s give credit where it’s due. AI is excellent at:

• Explaining real estate terms without making you feel silly

• Summarizing market concepts and trends

• Helping you think through pros and cons

• Generating good questions to ask your realtor or lender

In other words, it’s a great research assistant. If real estate were a school project, AI would be the kid who colour-codes the notes and brings extra highlighters.

Where AI Starts to Struggle

This is where things get interesting.

1. AI doesn’t actually know your neighbourhood

AI can talk about markets in general, but it doesn’t:

• Walk your street

• Know why two similar homes—one in the west end, one near downtown—can sell weeks apart

• Understand the difference between lakefront, riverfront, and “water-adjacent”

• Factor in ferry schedules, rural septic systems, or whether a road gets plowed first

Real estate in Kingston, Amherstview, Bath, Gananoque, and the surrounding rural areas is hyper-local. Sometimes hyper-specific. AI works in averages. Homes don’t.

2. AI doesn’t know your life

Real estate decisions are rarely just about numbers. AI doesn’t know:

• You’re downsizing after decades in the same home

• You want fewer showings because you work from home

• You’d rather accept a clean offer than chase every last dollar

• You’re juggling a move, kids, work, and aging parents

AI can be logical. It can’t be empathetic. And those two things don’t always line up.

3. AI sounds confident… even when it shouldn’t

This is a big one. AI is very good at sounding certain, even when:

• Data is outdated or not neighbourhood-specific

• Local factors aren’t being considered

• Assumptions are being made quietly in the background

It won’t say, “This feels risky—let’s slow this down.”  Experienced local professionals say that all the time.

4. AI doesn’t negotiate

Negotiation is where real money and favourable terms are won or lost. AI can explain negotiation theory, but it can’t:

• Read the tone of an offer

• Sense when a buyer is bluffing

• Pick up the phone and get context from another local agent

• Push back firmly without derailing the deal

And it definitely can’t do it calmly when emotions are running high.

5. AI isn’t accountable

This part matters more than most people realize. If something goes sideways:

• AI doesn’t attend inspections

• AI doesn’t talk to your lawyer, lender, or insurer

• AI doesn’t flag local issues that only come up mid-transaction

There’s no follow-up. No fixing it. No “we’ve got this.”

The Best Way to Use AI in Real Estate

Here’s the sweet spot. Use AI to:

• Learn

• Prepare

• Organize your thoughts

• Ask better questions

But rely on a human to:

• Interpret Kingston-area market data properly

• Apply local knowledge and judgement

• Adjust strategy in real time

• Negotiate and manage the details

Think of AI as your assistant, not your decision-maker.

The Bottom Line

AI is a fantastic place to start. But when it comes to pricing your home, navigating offers, or making a move in Kingston and area, most people want:

• Local insight

• Clear advice

• Someone who understands both the market and the moment

• A real person who is accountable for the outcome

Real estate is still a very human business. And when your home—and your future—are involved, that’s a good thing.

If you’re using AI to get oriented and want a local, human perspective to go with it, we’re always happy to talk things through—no obligation, no sales pitch.

A practical guide for buyers and sellers in Kingston, Napanee, Bath, Amherstview, Stone Mills, Gananoque, and surrounding areas.

When people say they want “the best real estate agent,” they usually mean someone they can trust, who understands the local market, communicates clearly, and helps them reach their goals with less stress. There’s no universal top-10 list that can decide that for you—but there is a smart way to choose.

Here’s how to find the right Realtor® for your move, especially if you’re buying or selling in Kingston and area.

Step 1: Define What “Best” Means to You

“Best” is personal. Before you search, get clear on your priorities:

• Are you buying, selling, or doing both?

• Is your goal top price, a smooth timeline, or minimal disruption?

• Do you need a specialist—downsizing in Amherstview, waterfront homes, rural properties, or relocation near CFB Kingston?

Once you know what matters most, the right agents naturally stand out.

Step 2: Focus on Local, Not Flashy

Strong local presence beats big promises every time. Look for agents who:

• Clearly explain the Kingston-area market on their website

• Are active on Realtor.ca and Google Business Profiles

• Have recent sales in your neighbourhood—not just “nearby in Ontario”

True local agents know the difference between Bath, Amherstview, west-end Kingston, and rural Frontenac, because they’re working in these communities every week.

Step 3: Read Reviews Strategically

Online reviews are incredibly helpful—if you read them the right way.

• Prioritize recent reviews over older ones

• Look for specific stories, not generic praise

• Watch for patterns around communication, negotiation, and follow-through

A downsizer praising calm guidance or a buyer noting clear explanations during multiple offers tells you far more than “Great experience!”

Step 4: Check Experience Where It Counts

Longevity alone doesn’t equal expertise. Ask about:

• Recent sales in your price range and neighbourhood (for example, student rentals in Kingscourt)

• Familiarity with local issues like wells, septic systems, zoning, condo fees, and inspection norms

• How they explain market stats—days on market, pricing trends, and offer strategies—without jargon

The right real estate agent should make complex information easy to understand.

Step 5: Interview Two or Three Agents

This is a professional hire—treat it like one. Good questions include:

• “What’s your strategy for my situation?”

• “Can you share recent examples similar to my move?”

• “How do you communicate, and how quickly can I expect replies?”

• “What challenges should I expect in today’s market?”

Listen for thoughtful answers grounded in real experience, not rehearsed scripts.

Step 6: Pay Attention to Communication and Chemistry

Even the most skilled agent isn’t a fit if communication feels off.

• Do they listen before offering advice?

• Are explanations clear and pressure-free?

• Do you feel respected and supported?

You should feel calmer after conversations—not more stressed.

Step 7: Look Behind the Scenes

Strong agents run strong systems. Ask about:

• Administrative and marketing support

• Coverage if they’re unavailable

• How they manage multiple clients without delays

Behind-the-scenes structure is what keeps your transaction moving smoothly.

Step 8: Review the Plan Before You Commit

Before signing anything, expect clarity.

• Sellers: pricing strategy, preparation timeline, marketing plan (professional photography, video, online exposure, open houses)

• Buyers: search setup, neighbourhood guidance, offer strategy, and competitive market advice

If the plan feels vague, ask more questions.

How We Help Our Clients

Our clients often tell us the same things in their reviews: they value clear explanations, steady communication, and guidance that reduces stress. Whether we’re helping first-time buyers, downsizers, or sellers navigating a transition, we focus on education, preparation, and thoughtful negotiation—not pressure.

We believe that good real estate advice should be calm, informed, and supportive, with your goals guiding every decision.

Final Thought

Choosing the right Realtor isn’t about finding the loudest voice online—it’s about finding the professional who understands your market, listens to your needs, and earns your trust. Take the time to choose well. Your future self will thank you.

If you’d like to talk through your situation or compare approaches, we’re always happy to have that conversation.

Let’s Chat

You may have heard the terms exclusive property or off-market listing  and wondered what they really mean. In Ontario, exclusive listings are still allowed, but the rules around how they’re handled have changed significantly — especially when it comes to marketing.

An exclusive listing is a signed agreement between a seller and one brokerage to list a property for sale without putting it on MLS®. The property is for sale, but it’s not publicly advertised. That means no lawn signs, no social media, no websites, and no broad promotional campaigns.

Under today’s rules, an exclusive listing can only be shared privately:

• Within the listing brokerage, and

• One-on-one with individual agents or individual buyers

If a property is advertised publicly in any way, it must be placed on MLS® within 3 days.

Why Would Someone Choose an Exclusive Listing?

While most sellers benefit from full exposure on MLS®, exclusives can make sense in certain situations, such as:

• Privacy concerns (high-profile individuals, sensitive circumstances, divorce, medical issues, etc.)

• Preparing the property before going public (repairs, staging, photography, paperwork)

• Testing timing or price quietly, without a public days-on-market clock

In these cases, exclusive listings offer more control and discretion.

Why Did the Rules Change?

The Canadian Real Estate Association (CREA) introduced these policies in January 2024 to promote fairness and transparency. Broad public advertising of exclusives was limiting buyer access and sometimes reducing competition for sellers — which could impact sale price. Today’s structure ensures sellers understand the trade-offs and that buyers are treated equitably.

How Do Buyers Find Exclusive Listings?

Because they won’t appear on Realtor.ca or be advertised publicly, access happens within brokerages and through relationships, networking, and agent-to-agent communication. Working with a local REALTOR® who’s well connected is the best way to hear about opportunities that aren’t yet on the public market.

Is an Exclusive Listing Right for You?

For many properties, MLS® exposure is the best path to achieving maximum value. But depending on your goals, privacy needs, or timing, an exclusive listing can be a strategic option.

If you’d like to talk about whether exclusive or off-market makes sense for your situation — or if you want to be kept in the loop about private opportunities in Kingston and area — we’re always happy to chat.

Buying your first home is an exciting milestone but can also be overwhelming. In Kingston, Ontario, a city rich in history and charm, first-time homebuyers often need to correct common mistakes that can lead to frustration, delays, and unnecessary costs. Whether you're looking at a cozy townhouse in the downtown core or a spacious family home in one of Kingston's beautiful neighbourhoods, understanding these potential pitfalls can help you avoid them and make the process smoother. Here are some of the most frequent mistakes first-time homebuyers in Kingston make — and how to avoid them.

Not Getting Pre-Approved for a Mortgage

One of the biggest mistakes first-time homebuyers make is failing to get pre-approved for a mortgage before starting their home search. It's tempting to jump right into browsing listings and imagining your dream home, but you need a clear understanding of your budget to set yourself up for disappointment.

How to Avoid It: Talk to your bank or a local mortgage broker about your budget and all of the costs involved in home buying. They will get the information from you necessary to get your pre-approval for a mortgage. It's important to do this before you start looking at homes because it gives you a clear idea of how much you can afford. Also, once you've found the home you would like to make an offer on, a pre-approval can also speed up the buying process, making your offer more competitive in a market where homes can sell quickly.

Side note: Even with a pre-approval you will still need a finance condition on your offer. The pre-approval tells you how much your budget is, but the actual mortgage approval tells you whether your lender will give you a mortgage on that particular house. If you do not have a pre-approval, your finance condition will have to be much longer than a seller may be willing to wait, depending on the market, so get it done before you start looking!

Overlooking Extra Costs Beyond the Listing Price

Many first-time buyers only focus on the listed price of a home, but the true cost of homeownership goes far beyond that. Closing costs, property taxes, insurance, and home maintenance fees can all add up, and these extra expenses may blindside some buyers.

How to Avoid It: Factor in additional costs when budgeting for your home purchase. A general rule of thumb is to set aside 3-5% of the home's purchase price for closing costs. You'll also want to budget for ongoing costs such as utilities, repairs, and upgrades.

Skipping the Home Inspection

Kingston has many older homes with character, and while that's part of their charm, it can also mean potential hidden issues. Some buyers may feel rushed or tempted to skip the home inspection to save time and money, but this is one of the biggest mistakes you can make. Even newer homes may have issues, so it's always best to do the home inspection.

How to Avoid It: Always hire a qualified home inspector to assess the property before you commit to buying. A good inspector will help you uncover potential issues, from foundation problems to outdated electrical systems, which could save you thousands of dollars in repairs down the road.

Not Considering Future Needs

Getting caught up in the excitement of finding your perfect first home is easy, but it's also important to think about the future. Will the house still suit your needs in five or ten years? For example, you may need more space or proximity to schools and parks if you plan to start a family.

How to Avoid It: When buying your first home, think about your long-term needs. Consider factors like the size of the home, the neighbourhood, and the potential for growth or renovations. This will help ensure that your home remains a good fit for you as your lifestyle evolves.

Neglecting the Importance of Location

While the house itself is important, the location is just as critical. A great home can quickly lose its appeal if it's located in an area with low rated schools, long commutes, or limited access to amenities. Many first-time buyers need to focus more on the neighbourhood rather than on the house.

How to Avoid It: Research the area thoroughly before making an offer. Look into things like school ratings, public transportation options, local amenities, crime rates, and future development plans. Consider how the neighbourhood aligns with your lifestyle and long-term goals. Drive through the neighbourhood during the day and in the evening to get a good feel for it.

Failing to Account for Market Conditions

The real estate market in Kingston can fluctuate, and not understanding the current market conditions could lead to overpaying for a home or missing out on opportunities. First-time buyers sometimes need help understanding whether it's a buyer's or seller's market.

How to Avoid It: Work with a local real estate agent who understands the Kingston market. They can provide insights into current trends and help you make an informed decision about when to buy. Your agent will also be able to advise you on pricing strategies, helping you avoid overpaying.

Letting Emotions Overrule Logic

It's easy to get emotionally attached to a home, especially if you find one that feels perfect. However, letting emotions drive your decisions can lead to making impulsive choices, such as overbidding on a property or neglecting issues that could become costly.

How to Avoid It: While it's natural to feel excited about a new home, try to stay objective. Focus on the facts, such as the home's condition, price, and how well it meets your needs. Don't rush into a decision; take your time and keep emotions in check.

Ignoring the Importance of Resale Value

Many first-time homebuyers focus on the present and overlook the future. While you might love the house you're considering now, what about five or ten years down the road? If you plan to sell eventually, it's essential to consider the resale value of your home.

How to Avoid It: When choosing a home, think about its potential resale value. Look for homes in desirable neighbourhoods with a history of strong market performance. Consider factors like the home's layout, size, and condition and how likely it is to appeal to future buyers.

Buying your first home in Kingston can be a rewarding and exciting journey, but avoiding these common mistakes along the way is important. By staying organized, working with a knowledgeable real estate agent, and being mindful of the costs and long-term considerations, you can ensure that your first home is a good investment and a place where you'll thrive for years to come.

If you're ready to start your home-buying journey in Kingston, contact us for expert advice and guidance every step of the way!

Thinking about turning a home into a bed and breakfast? Whether you’re dreaming of hosting guests in downtown Kingston, a charming village like Bath or Newburgh, or a quiet retreat on Amherst or Wolfe Island, there are a few key features that make all the difference.

Here are five things to look for when buying a house to use as a B&B in Eastern Ontario:

1. Parking & Accessibility

Most guests will arrive by car, so off-street parking is essential. In downtown Kingston, this can be hard to come by — and on islands like Amherst or Wolfe, ferry access and winter conditions make it even more important.

Look for homes with at least one guest parking spot per room. Bonus if there's an accessible entrance and year-round road maintenance.

2. A Layout That Works

Comfort and privacy are big priorities for B&B guests. A home with a guest wing, private suite, or separate entrance makes hosting easier — and often more enjoyable.

Look for:

* Multiple bedrooms with private baths

* Spaces that can be closed off from your personal living area

* Potential for future expansion (e.g., converting a garage or basement suite)

3. Location Guests Will Love

Tourists don’t just want a place to sleep — they want to experience the area. A good location can boost bookings and reviews.

Strong choices include:

* Downtown Kingston (close to Market Square, Queen’s, and the waterfront)

* Amherst Island and Wolfe Island (peaceful retreats with ferry access)

* Areas near wineries, parks, historic sites, or cycling routes

4. Room to Host

A welcoming kitchen and dining space can make or break your B\&B experience. Even if you're only serving coffee and muffins, you'll need a space that supports prep, cleanup, and guest interaction.

Things to look for:

* Open-concept kitchen/dining area

* Storage for supplies

* Easy-to-clean finishes

5. Zoning & Permits

Before you fall in love with a home, check the rules. Kingston and surrounding municipalities may require special zoning, licensing, or permits for short-term rentals or bed and breakfasts.

Questions to ask:

* Is the property zoned for short-term rental or B&B use?

* Are there municipal licensing requirements?

* Are there septic or fire safety rules for guest stays? This is especially important for rural properties and island homes.

Thinking About Starting a B&B?

We help buyers find the right home to support their lifestyle and income goals — including homes with B&B potential in Kingston, Bath, Amherst Island, Wolfe Island, and beyond.

Get in touch if you’d like to explore what’s available — and what to watch for. We’ll help you navigate the search, zoning, and setup.

Click here to download our B&B Buyer Checklist

Watch on YouTube below:

When we show properties on Amherst Island, we always get the same five questions—whether it’s a young family looking for a slower pace, a couple dreaming of waterfront views, or retirees seeking community and quiet. We’ve answered them so many times we decided to make a video (you’ll find it below ), and if you prefer reading, here's the full scoop!

1. “What’s the deal with the ferry?”

The Amherst Island Ferry is more reliable than most people expect—it runs 20 hours a day, 365 days a year. The crossing takes about 15 minutes. It leaves hourly half past the hour from Millhaven (mainland) and on the hour from Stella (island side).

Visitor fare is $10.50 for a return trip (paid after boarding in Millhaven), and islanders can buy 25-ticket books for $105.00. Both docks offer public washrooms and indoor waiting areas.

Learn more from Loyalist Township: Amherst Island Ferry Info

2. “What if there’s an emergency?”

We get it—being on an island raises some concerns. Amherst Island has a trained fire and first response crew available at all times. If an ambulance is needed, the ferry crew is notified and transports the ambulance from the mainland, waits during the call, and brings it back. We also have a helipad.

3. “What are the roads like in winter?”

Here’s a surprise: winter road maintenance is excellent. Amherst Island has its own roads crew, and during snow season there’s even a night watch in place to wake the crew if significant snowfall happens overnight. Locals often say snow removal here is better than on the mainland.

4. “Are there any stores or services?”

Yes! Year-round, the island has:

• The General Store with LCBO outlet, frozen meals, snacks, and much more

• Post Office

• Topsy Farms’ Wool Shed 

In warmer months, you’ll also find:

• The Back Kitchen (non-profit restaurant)

• The Neilson Store Museum & Cultural Centre

• The Weasel & Easel Arts & Gifts Shop

• A weekly Island Market & Social at the Agricultural Pavilion

5. “What do you do in the winter?”

Winter is a different kind of beautiful on Amherst Island. Locals enjoy a slower pace and either happily hole up quietly with books, music and knitting or gather for:

• Potluck dinners, bridge, mahjong, book clubs, movies, games, music

• Beach walks (yes—even in winter!) - during a pandemic winter, a few islanders took it upon themselves to walk every public road on the island! 

• The Amherst Island Recreation Association has weekly sports 3-4 nights/week and occasional social gatherings

• Occasional Friday evening Back Room Talks and Saturday morning Winter Markets at the Museum (brought to you by the Museum and Women's Institute, respectively)

• Birdwatching

• And of course, a quick trip to Kingston gets you to top-tier restaurants, live music, art galleries, and theatre performances.

Island life doesn’t stop when the snow flies—it just shifts into a cozier gear.

Final Thoughts

Whether you're planning to move full-time or looking for a weekend getaway, Amherst Island might just surprise you with how connected, welcoming, and well-serviced it really is. If you’re curious about life on the island—or ready to come take a look—reach out. We live here, and we’d love to show you around.

 Let’s chat about your dream island lifestyle.

Buying your first home is exciting—but it can also feel like a big leap. If you're looking to buy your first house in Kingston, Ontario, you’re not alone. This vibrant city is a popular choice for first-time buyers thanks to its walkable neighbourhoods, historic charm, and access to education, healthcare, and waterfront living.

Here’s what you need to know to confidently buy your first home in Kingston.

1. Get Pre-Approved Before You Start Looking

In Kingston’s competitive real estate market, a mortgage pre-approval is essential. It helps you:

•Understand what you can afford
•Lock in an interest rate
•Strengthen your offer when competing with other buyers

Most local buyers work with a mortgage broker or a lender from institutions like Alterna Savings, RBC, or TD Canada Trust. We can recommend local lenders who we trust to take care of our clients.

2. Explore Kingston Neighbourhoods for First-Time Buyers

Kingston has a mix of neighbourhoods that suit a variety of lifestyles and budgets. A few top picks for first-time home buyers:

•Polson Park: Quiet, affordable, close to parks and transit
•Kingscourt: Up-and-coming, walkable, close to downtown
•Cataraqui North: Newer builds, close to schools and big-box stores
•Rideau Heights: Great value and improving amenities
•Greenwood Park / East End: Family-friendly, close to CFB Kingston and downtown via the Waaban Crossing

We can help you match your lifestyle and commute needs to the right area.

3. Know the Costs Beyond the Mortgage

Budgeting for your first home in Kingston means more than just your monthly payment. Be sure to plan for:

•Property taxes (approx. 1.2% of assessed value in Kingston)
•Utilities (Enbridge gas, Utilities Kingston for water/hydro)
•Home insurance
•Legal fees and disbursements
•Home inspection
•Land transfer tax (Ontario provides a rebate of up to $4,000 for first-time buyers)
•Moving costs and immediate repairs

4. Take Advantage of First-Time Buyer Incentives

If you're a first-time home buyer in Ontario, you may be eligible for:

•The Home Buyers’ Plan (HBP): Withdraw up to $60,000 tax-free from RRSPs
•Land Transfer Tax Refund: Up to $4,000 back in Ontario
•The new First Home Savings Account (FHSA): Save up to $8,000/year tax-free

Ask your mortgage broker or REALTOR® to help you determine what you qualify for.

5. Work with a Kingston-Based REALTOR®

A local real estate agent knows the ins and outs of Kingston’s neighbourhoods, pricing trends, and offer strategies. Your agent will:

•Guide you through listings that fit your budget and goals
•Advise on offer strategies (including conditions)
•Connect you to trusted home inspectors, lawyers, and contractors
•Help you avoid common pitfalls in older homes (like knob-and-tube wiring or outdated insulation)

Bonus: In most cases, buyers don’t pay commission—the seller does.

6. Understand the Buying Process in Ontario

Here’s what to expect when buying your first home in Kingston:

1.Get mortgage pre-approval
2.Start viewing homes with your REALTOR®
3.Make an offer (often with conditions like financing or inspection)
4.Fulfil conditions and finalize financing
5.Sign documents with a lawyer
6.Close and get your keys!

In Kingston, homes can sell quickly—especially under $600,000—so be ready to act fast when you find the right one.

7. Is Kingston a Good Place to Buy a First Home?

Yes—Kingston continues to attract first-time buyers because of:

•A strong job market (healthcare, education, public service)
•Stable property values
•A mix of housing types (detached homes, townhouses, condos)
•Easy access to Toronto, Ottawa, and Montreal
•A lifestyle that balances urban amenities with natural beauty

Final Thoughts

Buying your first home in Kingston, Ontario is an exciting milestone—and with the right plan, it’s completely achievable. Surround yourself with trusted professionals, take advantage of first-time buyer programs, and choose a neighbourhood that fits your life today and tomorrow.

Thinking about buying your first home in Kingston?

We specialize in helping first-time buyers make smart, confident choices. Reach out for a no-pressure chat or to get started.

Serving Kingston, Amherstview, Napanee, and the surrounding region.

If you’ve been watching the Kingston real estate market and wondering when the right time to buy might be—this summer could be your opportunity.

From stabilizing home prices to promising investment potential, summer 2025 offers several advantages for both first-time homebuyers and seasoned investors alike. Let’s dive into three compelling reasons why buying a home in Kingston right now makes smart financial and lifestyle sense.

1. Buyer Conditions Are the Best They’ve Been in Years

Over the past few years, Kingston, like many Canadian markets, experienced intense buyer competition, multiple offers, and record-breaking home prices. But the market is shifting—and in a good way for buyers.

In 2025, we’re seeing more balanced market conditions. There’s increased inventory across key neighbourhoods like Sydenham, Portsmouth Village, and Kingston East, which means more selection and less pressure to compete aggressively. Buyers are taking a breath, doing proper due diligence, and in many cases, negotiating terms that would have been out of reach a couple of years ago.

What does that mean for you?

• More time to consider properties before making an offer

• More negotiating power on price, closing dates, and conditions

• A greater chance of finding a home that truly fits your needs and lifestyle

Whether you're looking for a charming century home, a lakeside retreat, or a family-friendly property with room to grow, now is a great time to make a confident move.

2. Interest Rates May Be Nearing Their Peak

After a series of rate hikes in 2023 and 2024, the Bank of Canada has held interest rates steady in recent announcements—and some economists are forecasting potential rate reductions later this year or into early 2026.

This creates a unique window for buyers:

• Secure a home now while there's less competition

• Lock in a mortgage at today’s rate, with the option to refinance later

• Get ahead of the crowd likely to re-enter the market once rates drop

As mortgage rates begin to trend downward again, we’re expecting an uptick in buyer activity—which could lead to renewed upward pressure on prices. In other words, today’s relative calm is tomorrow’s advantage.

3. Kingston’s Long-Term Investment Potential Remains Strong

If you’re thinking beyond lifestyle and looking at long-term value, Kingston continues to be one of Ontario’s most reliable and resilient real estate markets.

This mid-sized city punches above its weight thanks to a diverse local economy anchored by:

• Queen’s University and St. Lawrence College

• CFB Kingston, one of the largest military bases in Canada

• Kingston Health Sciences Centre, a regional healthcare hub

• A growing tech and innovation sector, plus new infrastructure projects

Rental demand remains steady, especially in walkable downtown neighbourhoods and near major institutions. Properties that can serve as income-generating rentals—whether short-term, executive, or long-term unfurnished—continue to perform well with the right guidance and management.

Many of my clients are successfully turning homes into investment properties, whether they’re living in one unit and renting another, or using fully self-contained homes as executive or vacation rentals. With Kingston’s year-round demand and relatively stable pricing compared to the GTA, it’s a strategic market to consider for building long-term wealth.

Ready to Explore Your Options in Kingston?

As your local Kingston real estate expert, I’m here to help you navigate this summer’s market with clarity and confidence. Whether you're buying your first home, upsizing, downsizing, or considering an investment, we’ll create a strategy that aligns with your goals.

✨ Let’s talk about what’s possible for you in Kingston’s summer market.
Reach out for a personalized consultation or to start your home search with tailored listings.

When Lorna and I purchased our respective first homes, it was a very different real estate landscape than it is now. Lorna worked with a financial planner to sort out her finances and move toward a down payment on her new build condo, and I worked with my husband squirrelling away portions of our salaries for a down payment on our eventual east end fixer-upper semi. However, with rising real estate prices and additional costs like closing fees and taxes, saving for your first home can feel like an overwhelming challenge. The good news is that Canada offers a range of tools, programs, and tax benefits designed to help first-time home buyers achieve their dream of homeownership. By combining smart financial planning with these supports, you can make the goal of owning your first home a reality.

Minimum Down Payment Requirements in Canada

In Canada, the amount you need for a down payment depends on the home’s purchase price. The federal government has established the following minimum down payment requirements based on the home’s purchase price:

· For homes priced at $500,000 or less, a minimum of five per cent of the purchase price is required.

· For homes priced between $501,000 and $999,999, a minimum of five per cent for the first $500,000 and 10 per cent for any amount over $500,000 is required.

· For homes priced at $1 million or more, a minimum of 20 per cent of the purchase price is required.

While these are the minimum requirements, saving beyond the minimum can provide benefits and ultimately save you money through lower monthly mortgage payments and less interest paid over the life of the loan.

Savings Strategies to Help Save for Your First Home

There are several tools and programs designed specifically to help first-time home buyers. One of the simplest ways to stay on track is to open a new savings account for first-time homebuyers specifically to save for the down payment. Many financial institutions provide accounts specifically for first-time buyers. Look for accounts offering high interest rates, low or no fees, and flexibility to suit both short- and long-term savings goals.

A Tax-Free First Home Savings Account (FHSA) is a registered account that combines the tax advantages of an RRSP and a TFSA, making it the best savings account for first-time homebuyers and building your down payment savings. You can contribute up to $8,000 annually, with a maximum lifetime contribution of $40,000. Contributions are tax-deductible, which can reduce your taxable income, and withdrawals from your tax-free savings account for first-time homebuyers remain tax-free as long as they are used to purchase a qualifying first home.

Government Support Programs for First-Time Homebuyers

The Canadian government offers a variety of incentives to help first-time homebuyers reduce costs and make homeownership more accessible. These programs can significantly reduce upfront costs and make it easier to afford your first home when combined with your personal savings efforts.

Home Buyers Plan

The Home Buyers’ Plan (HBP) allows first-time home buyers to withdraw up to $60,000 each, tax-free from their Registered Retirement Savings Plan (RRSP), to use toward their home purchase. This program provides an excellent way to access pre-existing savings while avoiding immediate tax implications. However, the HBP requires that you repay the withdrawn amount over a maximum of 15 years, beginning in the second year after the withdrawal.

GST/HST New Housing Rebate

If you’re purchasing a newly constructed home, substantially renovating an existing one, or rebuilding after a fire, you may be eligible for a rebate on a portion of the GST or HST paid. The rebate can significantly offset the additional costs of buying or building a new home. Eligibility and rebate amounts depend on the province and the price of the house.

Land Transfer Tax Rebates

Many provinces and municipalities offer tax savings for first homebuyers to reduce the cost of land transfer taxes. The exact rebate will vary by location but can provide substantial savings on closing costs.

Home Buyers’ Tax Credit (HBTC)

The Home Buyers’ Tax Credit is another federal incentive designed to help first-time buyers recover some of the costs of purchasing a home. This non-refundable tax credit offers up to $1,500 in tax relief, which can be used to offset expenses like legal fees, appraisal costs, and land transfer taxes.

How to Start Saving for Your First Home

Saving for your first home is an exciting journey but requires significant financial planning. Here’s how you can get started.

1. Determine how much you’ll need for your down payment and other costs. Remember to account for other expenses, such as closing costs and home inspection fees.

2. Evaluate your monthly income and expenses to see where you can cut back. In your budget, focus on prioritizing essential needs while reducing discretionary spending.

3. Set aside a manageable portion of your monthly income. Even small contributions add up over time, especially when invested in high-interest or tax-advantaged accounts.

4. Review your savings progress to ensure you’re on track to meet your goal within your desired timeline. If you’re falling behind, adjust your budget or explore additional sources of income.

We understand the challenges of saving for your first home, and we are here to guide you every step of the way. Let us help you find not just a property but a place to call home. 

Are you considering using your Registered Retirement Savings Plan (RRSP) to purchase a home in the Kingston area? Understanding the Home Buyers' Plan (HBP) can be a valuable step in making homeownership more attainable.

What is the Home Buyers' Plan (HBP)?

The HBP is a federal program that allows first-time homebuyers to withdraw up to $60,000 (increased from $35,000 for withdrawals made after April 16, 2024) from their RRSPs to buy or build a qualifying home. For couples, this means a potential combined withdrawal of $120,000. The withdrawn amount is not taxed, provided it's repaid into the RRSP within a 15-year period.

Eligibility Criteria

To participate in the HBP, you must:

1. Be a Canadian resident at the time of withdrawal and up to the time a qualifying home is bought or built.

2. Meet the definition of a first-time homebuyer, meaning you have not owned and occupied a home in the previous four calendar years, excluding the 30 days before withdrawal.

3. Have a written agreement to buy or build a qualifying home for yourself or a related person with a disability.

4. Intend to occupy the home as your principal residence within one year of purchase or construction.

Even if you or your spouse have previously owned a home, you may still be considered a first-time homebuyer if certain conditions are met.

How to Withdraw from Your RRSP Under the HBP

Once you've confirmed your eligibility and have a purchase agreement in place, follow these steps:

1. Complete Form T1036: Fill out the "Home Buyers' Plan (HBP) Request to Withdraw Funds from an RRSP" form.

2. Submit to Your RRSP Issuer: Provide the completed form to your RRSP provider, who will process the withdrawal.

3. Receive Funds: The funds will be released to you without withholding taxes.

Ensure that the RRSP funds you plan to withdraw have been in the account for at least 90 days to avoid potential tax implications.

Repayment Terms

Repaying the withdrawn amount is crucial to avoid tax penalties. Here's how it works:

1. Repayment Period: Normally, you have 15 years to repay the amount, with the first payment due two years after the withdrawal. However, for withdrawals made between January 1, 2022, and December 31, 2025, the repayment period starts after five years instead of two.

2. Annual Payments: Each year, repay at least 1/15 of the withdrawn amount.

3. Missed Payments: If you miss a payment, the outstanding amount for that year will be added to your taxable income.

For withdrawals made between January 1, 2022, and December 31, 2025, the start of the repayment period is extended to five years.

Pros and Cons of Using the Home Buyers Program
Pros:

1. Interest-Free Loan: Access your RRSP funds without interest charges.

2. Boosted Down Payment: Increase your down payment, potentially reducing mortgage default insurance premiums.

Cons:

1. Repayment Obligation: Mandatory repayments over 15 years.

2. Opportunity Cost: Withdrawn funds lose potential investment growth during the repayment period.

3. Discipline Required: Strict adherence to the repayment schedule is essential to avoid tax consequences.

Consult with Professionals

While the HBP offers significant advantages, it's essential to consult with financial advisors, mortgage professionals, or tax professionals to understand the full implications based on your personal circumstances. All of the information can be found on the canada.ca website, but we know sometimes it needs a bit of an explanation. At Lynn & Lorna Real Estate, we're committed to guiding you through every step of your home buying journey in the Kingston area. Whether you're looking to discuss the HBP, have questions about the local market, or looking for a mortgage specialist recommendation, don't hesitate to reach out.