First Time Home Buyer in Regina, Saskatchewan — 2025 Guide

Every program, incentive, and financial tip for buying your first home in Regina SK.

Why Regina is Great for First-Time Buyers

Regina is one of Canada's most accessible cities for first-time homebuyers in 2025. With average home prices around $330,000, no provincial land transfer tax, and strong federal buying incentives, the path to homeownership in Regina is more realistic than in most Canadian cities. A household income of $75,000–$90,000 can qualify for a mortgage on a typical Regina home with a modest down payment.

Federal Programs for Regina First-Time Buyers

1. First Home Savings Account (FHSA)

The FHSA is the most powerful new tool for Regina first-time buyers. You can contribute up to $8,000 per year and $40,000 lifetime. Contributions are tax-deductible (like an RRSP), and withdrawals for a qualifying first home are completely tax-free (like a TFSA). A couple can each open an FHSA for a combined $80,000 tax-free down payment fund.

2. Home Buyers' Plan (HBP)

The HBP lets first-time buyers withdraw up to $60,000 per person from their RRSP to buy a qualifying home. The amount must be repaid to the RRSP over 15 years. A Regina couple can access $120,000 combined from their RRSPs under the HBP.

3. First-Time Home Buyers' Tax Credit (HBTC)

A federal non-refundable tax credit worth up to $1,500 in your year of purchase. Claim it on your tax return the year you close on your Regina home.

4. GST/HST New Housing Rebate

If you purchase a new-build home in Regina, you may be eligible for a rebate on GST paid for homes priced up to $450,000. For a new Regina home at $380,000, this rebate can be worth several thousand dollars.

Saskatchewan Has NO Land Transfer Tax

This is massive for Regina first-time buyers. In Ontario, a first-time buyer purchasing a $330,000 home pays about $2,475 in provincial land transfer tax (with partial rebate). In Saskatchewan, you pay only a title transfer fee of approximately $500–$800 — saving you thousands compared to other provinces.

Down Payment Requirements in Regina

Home Price	Minimum Down Payment	Amount Needed
$300,000	5%	$15,000
$330,000	5%	$16,500
$400,000	5%	$20,000
$500,000	5% on first $500K	$25,000
$600,000	5% + 10% on $500K–$600K	$35,000

Steps to Buying Your First Home in Regina

• Check your credit score (aim for 650+; 700+ for best rates)
• Open an FHSA immediately to start accumulating tax deductions
• Get a mortgage pre-approval from two lenders — compare Conexus CU plus one major bank
• Work with a local Regina REALTOR familiar with your target neighbourhoods
• Budget $3,000–$5,000 for closing costs beyond the down payment
• Order a home inspection — never skip this step