As a first-time home buyer, you may be able to claim $5,000 for the purchase of a qualifying home in 2017.
To qualify for the home buyers’ amount, you cannot have lived in another home owned by you or your spouse or common-law partner that year or in any of the preceding four years.
The qualifying home must be located in Canada and registered in your name and/or your spouse’s or common-law partner’s name per the applicable land registration system. It includes existing homes, such as single-family houses, semi-detached houses, townhomes, mobile homes, condominium units, apartments in duplexes, triplexes, fourplexes, or apartment buildings. It also includes homes under construction.
You do not have to be a first-time home buyer if:
  • You are eligible for the disability tax credit; or
  • You purchased the home for the benefit of a related person who is eligible for the disability tax credit.
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