DT blog title: Unlocking Hidden Wealth: Programs Every Homebuyer (and Homeowner) Should Know overtop of image of: a pile of 100 Canadian dollars bills laying on top of each otherDid you know that homeowners in Canada have 30 times the net worth of renters? According to StatsCan, that’s the reality—and it’s one of the strongest arguments for homeownership as a wealth-building strategy. But here’s the surprising part: many families miss out on thousands of dollars in government programs and tax incentives simply because they don’t know what exists, or they assume it doesn’t apply to them.

At the Dekker Team, we’ve guided families for more than 36 years, and we’ve seen how the right knowledge transforms financial futures. In this blog, we’ll highlight some of the programs you may be overlooking—and why a clarity call could be worth tens of thousands to you.

First-Time Buyers: Your Secret Weapon

The First Home Savings Account (FHSA) is one of the most powerful tools available. If you’re 18 or older and haven’t owned a home, you can contribute up to $8,000 annually (to a maximum of $40,000). Contributions reduce your taxable income, and withdrawals for a qualifying home are completely tax-free. The catch? Your contribution room doesn’t accumulate until you open the account. Even $100 gets the clock started.

Pair this with the Home Buyers’ Plan (HBP), which allows you to withdraw up to $60,000 from your RRSPs tax-free for a home purchase, and suddenly you and a partner could have access to $200,000 in tax-advantaged funds.

Stacking Programs: Multiplying Your Advantage

Unlike store coupons, many of these incentives can be combined. Imagine using your FHSA, HBP, and also claiming:

  • The First-Time Home Buyers’ Tax Credit (up to $1,500 back on your return).

  • The Land Transfer Tax Rebate (up to $4,000, deducted right at closing).

  • Rebates for new construction, which can climb into the tens of thousands depending on the purchase price.

These savings don’t appear automatically—you have to know they exist and claim them.

Not Just for First-Timers

Already own a home? There are still programs worth knowing:

  • The City of Ottawa’s Better Homes Loan (name and details subject to change) offers long-term, fixed-rate financing for energy-efficient upgrades like windows, heat pumps, and solar. Lower-income households may even qualify for reduced or zero interest.

  • Moving Expense Deductions: If you relocate at least 40 km closer to work or school, you may be able to deduct moving costs on your taxes.

  • And when you sell your principal residence, the capital gains exemption may mean zero tax on your profit.

Why Many Miss Out

The challenge is that these programs change constantly—amounts, names, and eligibility vary across municipalities and over time. What was true last year may no longer apply today. That’s why general information, like what you’re reading here, is a starting point—not the full solution.

The Bottom Line

Owning a home isn’t just about shelter—it’s about building wealth wisely. From first-time savings accounts to municipal energy programs, there is money already earmarked for you. The only question is whether you’ll leave it on the table or claim it.

Ready to see which programs fit your unique situation? Book a free 15-minute clarity call at dekkerteam.com and discover how much is waiting for you.