Make homeownership more affordable with provincial tax credits, PST rebates on new construction, and federal programs designed for first-time buyers in Saskatchewan.
Saskatchewan offers several programs to help first-time buyers overcome the biggest hurdle to homeownership: the upfront costs. From provincial tax credits and PST rebates on new construction to federal programs like the RRSP Home Buyers’ Plan and the First Home Savings Account, buyers have multiple ways to reduce their costs. This guide breaks down every incentive available to first-time home buyers in Saskatchewan for 2026 and shows you how to combine them for maximum benefit.
In addition to provincial programs, several federal initiatives can help offset the upfront costs of buying your first home.
RRSP Home Buyers’ Plan (HBP)
First-time buyers can withdraw up to $60,000 (or up to $120,000 jointly for a couple) from their RRSP to use toward a home purchase. The withdrawal is tax-free. Repayment begins after a 2-year grace period, with equal installments due over 15 years.
First Home Savings Account (FHSA)
The FHSA allows first-time buyers to save up to $40,000 tax-free toward a home. Contributions are tax-deductible, and withdrawals for a qualifying home purchase are tax-free. You can contribute up to $8,000 per year.
Home Buyers’ Amount
First-time buyers can claim up to $10,000 on their tax return for a federal tax rebate of up to $1,500. This can be split between spouses or common-law partners buying the home together.
GST/HST New Housing Rebate
If you buy a newly built or substantially renovated home, you may qualify for a rebate on the federal portion of GST or HST paid. The amount depends on the purchase price and province.
Saskatchewan offers its own set of incentives that can be combined with federal programs to make homeownership more affordable.
Here are the key provincial programs available to first-time home buyers in Saskatchewan:
This provincial non-refundable tax credit lets you claim up to $10,000 on your income tax return for a maximum refund of up to $1,050. Beginning January 1, 2025, the maximum increased to $15,000 for a refund of up to $1,575. To qualify, you must not have owned a home you lived in during the current year or any of the previous four years.
If you buy a newly constructed home in Saskatchewan, you may qualify for a rebate of up to 42% on the provincial sales tax (PST) paid. To get the full rebate, the purchase price must be under $450,000. A reduced rebate is available for homes between $450,000 and $550,000. Note that this rebate does not apply to substantially renovated homes.
This program provides eligible Metis citizens in Saskatchewan with a one-time contribution of up to $15,000 toward a down payment and up to $2,500 toward legal fees. Applicants must be members of the Metis Nation-Saskatchewan and must live in the home as their primary residence for at least 5 years.
Most federal and provincial programs can be combined, meaning you do not have to choose one over the other. Here is how you can maximize your savings:
Talk to your real estate agent and mortgage professional to create a personalized plan that uses every program you qualify for. The key is planning ahead so you have the right documentation and timelines in place.
The minimum down payment depends on the purchase price. For homes up to $500,000, you need at least 5% down. For homes between $500,000 and $1,499,999, it is 5% on the first $500,000 and 10% on the remainder. Homes over $1.5 million require 20% or more.
Yes. Most federal and provincial programs can be stacked. For example, you can use the FHSA for tax-free savings, the RRSP Home Buyers’ Plan for a tax-free withdrawal, and still claim both the federal Home Buyers’ Amount and the Saskatchewan First-Time Homebuyers’ Tax Credit on your tax return. Metis citizens can also combine the $15,000 down payment program with federal programs.
The PST Rebate for New Home Construction provides a rebate of up to 42% on PST paid when buying a newly constructed home. The full rebate applies to homes under $450,000; a reduced rebate is available for homes between $450,000 and $550,000. It does not apply to substantially renovated homes.
You can claim up to $10,000 on your tax return for a maximum refund of $1,050. Starting January 1, 2025, the maximum increased to $15,000 for a refund of up to $1,575. To qualify, you must not have owned a home you lived in during the current year or any of the previous four years.
This program provides eligible Metis citizens with up to $15,000 toward a down payment and up to $2,500 toward legal fees. The home must be your primary residence for at least 5 years. It can be combined with federal programs like the RRSP Home Buyers’ Plan and the FHSA.
