Canada's Housing Plan 2025: Digging Deeper into Incentives for First-Time Homebuyers in Toronto

As housing affordability continues to dominate headlines, Canada’s 2025 Housing Plan brings renewed focus on first-time homebuyers—particularly in high-cost urban centres like Toronto. From savings programs to proposed down payment assistance, new and expanded incentives are being introduced to support aspiring homeowners in the GTA.

But how effective are these programs in the current market—and how can developments like those led by RIISE help buyers make the most of them?

Federal & Provincial Incentives: What’s on the Table?

1. First Home Savings Account (FHSA) Launched in 2023, the FHSA is gaining traction in 2025 as a cornerstone of homeownership strategy for young Canadians. This registered account allows individuals to contribute up to $8,000 annually (to a lifetime max of $40,000), with contributions tax-deductible and withdrawals tax-free—provided they’re used for a first home.

Why it matters in Toronto: With average condo prices still hovering around the million-dollar mark, the FHSA offers a rare dual benefit of tax relief and savings momentum, especially when combined with RRSP and TFSA strategies.

2. Down Payment Assistance Programs Ontario has been evaluating new provincial initiatives to offer more direct support. Some proposed measures include:

• Shared equity loans that reduce upfront costs

• Top-up grants for low-to-moderate income households

• Expanded eligibility for land transfer tax rebates

How these help: In a market like Toronto, where the minimum down payment for an average home can exceed $70,000, these programs aim to lower one of the biggest barriers to entry.

How RIISE Projects Align with These Incentives

At RIISE, we’re not just building structures—we’re building futures. Our residential projects are increasingly designed with first-time buyers in mind, offering:

• Smaller, more affordable units in transit-friendly locations

• Pre-construction purchase opportunities that allow time to leverage FHSA contributions

• Transparent pricing and education tools to help buyers navigate financing and incentives

We work closely with real estate professionals, mortgage advisors, and municipal stakeholders to ensure our developments stay aligned with evolving buyer needs—and the programs that support them.

The Bottom Line: Incentives Alone Aren’t Enough

While federal and provincial initiatives are a welcome step toward affordable homeownership, navigating Toronto’s real estate market still requires guidance, planning, and the right opportunities.

That’s where RIISE comes in. With a client-first mindset and a commitment to community-focused development, we’re helping first-time buyers not just dream of homeownership—but achieve it.

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Looking to take your first step into the market? Explore how our upcoming developments can align with your housing goals and incentive eligibility.

Phone: 647 695 2025

Email: info@riisebuilding.ca