Dreaming of owning your first home in Saskatchewan? It’s a goal many share, but rising home prices, strict lending rules, and a competitive market can make it feel out of reach. Without clear, local guidance, individuals are unsure how to begin or what financial help they can claim. This guide aims to close that gap by outlining everything a first-time home buyer Saskatchewan needs to navigate the process with clarity and confidence.
What are Saskatchewan first-time home buyer incentives?
Saskatchewan offers multiple financial incentives that make buying your first home more affordable.
Saskatchewan First-Time Homebuyers’ Tax Credit
This provincial first-time home buyer program gives you up to $1,575 back when you buy your first home in Saskatchewan.
This non-refundable tax credit applies to the $10,000 to $15,000 of your home purchase price at the provincial tax rate of 10.5%. For the first $10,000, it provides $1,050. (source)
Couples can split the credit between partners to maximize the benefit based on who owes more tax.
Here are 4 requirements when applying this incentive:
- Proof of purchase or construction contract
- Evidence of PST paid
- Occupancy documentation
- Confirmation of primary residence status
To claim, complete Form SK428 when filing your annual income tax return with the Canada Revenue Agency. The credit is claimed for the tax year in which you purchased the home, and filed in the spring of the following year.
Métis Nation – Saskatchewan First Time Home Buyers’ Program
The MN-S First Time Home Buyers’ Program provides direct financial support to Métis citizens up to $17,500. The assistance is broken down into a maximum $15,000 toward the down payment and up to $2,500 for closing costs. (source)
To be eligible, you must:
- Commit to living in the home as your primary residence for at least five years.
- Be a registered citizen of Métis Nation – Saskatchewan.
- Be a first-time home buyer and a resident of Saskatchewan.
To apply, you need to follow 4 steps:
Step 1: Contact the program with a valid Métis Nation – Saskatchewan membership
Step 2: Provide proof of income and mortgage pre-approval
Step 3: Work with their professionals throughout the purchase
Step 4: Commit to living in the home for at least 5 years
Saskatchewan PST Rebate for New Home Construction
This rebate provides up to 42% back on the 6% PST paid when purchasing a newly constructed home. The full rebate is available for homes under $450,000. Homes with prices between $450,000 and $550,000 have the reduced rebate.
It applies to:
- Newly constructed homes from builders
- Owner-built homes
- Cooperative housing units
- Total price must be less than $550,000 (before taxes, excluding land)
- Homes where construction started after April 1, 2023, and before April 1, 2026
Applications must be submitted to the Ministry of Finance by March 31, 2027. (source)
Federal programs for the Saskatchewan first-time home buyer
In addition to provincial programs, first-time buyers in Saskatchewan can leverage a suite of federal incentives:
- RRSP Home Buyers’ Plan: Withdraw up to $60,000 tax-free from RRSPs to use for a down payment or $120,000 if buying with a partner who is also a first-time buyer.
- First Home Savings Account: Save up to $40,000 tax-free with $8,000 annual contribution limit. Contributions are tax-deductible, and withdrawals are non-taxable.
- Home Buyers’ Amount: Federal tax credit up to $1,500.
- GST/HST New Housing Rebate: Rebate on federal taxes for new home purchases.
Secondary Suite Incentive Grant
This incentive can make homeownership more affordable by generating rental revenue. It covers 35% of construction costs, up to a maximum of $35,000 per property.
4 Eligible costs are:
- Construction materials and labour
- Electrical, plumbing, and mechanical work
- Architectural and engineering services
- Standard appliances for the suite
Your secondary suite must be completely self-contained with its own entrance, kitchen, bathroom, and sleeping area. This could be a basement apartment, a laneway house, or a garage conversion. The suite must meet all building codes and bylaws.
Costs eligible for the grant can be incurred between April 1, 2023, and March 31, 2026, with applications due by March 31, 2027.
How to combine multiple SK first-time buyer programs
Start with your down payment strategy. Open an FHSA early and contribute regularly to build your tax-free savings. If you have existing RRSP savings, plan to use the HBP payment funds. Together, these can provide substantial capital without triggering taxes.
When shopping for homes, consider new construction to access the PST rebate. A $450,000 new home qualifies for the maximum rebate while remaining eligible for all other programs. You will receive:
- $1,575 from the provincial tax credit
- $1,500 from the federal tax credit
- Full PST rebate (42% of PST paid)
- GST rebate on the federal portion
Métis citizens can layer their specialized program on top of everything else, potentially accessing:
- $15,000 down payment assistance
- $2,500 for legal fees
- All tax credits and rebates
- RRSP and FHSA withdrawals
However, you cannot combine these programs with the Graduate Retention Program First Home Plan. Otherwise, stack away.
How Saskatchewan first-time buyer incentives compare to other provinces
Saskatchewan stands out nationally for its homebuyer-friendly policies. A major advantage is the absence of provincial land transfer taxes, which can cost thousands in provinces like Ontario, British Columbia, and Quebec. Instead, Saskatchewan charges only a modest land title transfer fee of 0.3% on properties over $8,401. Moreover, the Saskatchewan first-time home buyer tax credit is among the highest provincial credits this year.
While other provinces offer Indigenous housing support, few match the direct financial assistance and wraparound services provided in Saskatchewan.
Discover first-time home buyer programs for other provinces in Canada:
- First-Time Home Buyer BC
- First-Time Home Buyer Alberta
- First-Time Home Buyer Ontario
- First-Time Home Buyer PEI
- First-Time Home Buyer Nova Scotia
- First-Time Home Buyer Manitoba
- First-Time Home Buyer Newfoundland and Labrador
- First-Time Home Buyer Quebec
- First-Time Home Buyer New Brunswick
- First-Time Home Buyer Nunavut
FAQs about First-time home buyer Saskatchewan
Can I use first-time home buyer Saskatchewan programs for mobile homes?
Yes. They qualify for all programs as long as their primary residence and other requirements are met.
Do I need to repay the Saskatchewan first-time home buyer tax credit?
No. Tax credits reduce your taxes owed and never require repayment. Only the RRSP Home Buyers' Plan requires repayment over 15 years.
What if I am Métis and a first-time home buyer?
If you are a Métis citizen in Saskatchewan, you may be eligible for financial support through the MN-S First-Time Home Buyers Program. Apply directly through the MN-S website.
What’s the difference between the federal and Saskatchewan provincial tax credits?
The federal credit offers up to $1,500 based on a $10,000 claim at a 15% rate. The Saskatchewan credit offers up to $1,050 (or $1,575 starting in 2025) based on similar eligibility rules but applies at a 10.5% provincial rate.
Can I apply for the first-time home buyer Saskatchewan incentives if I am self-employed?
Yes, but you must provide sufficient proof of income and meet all program requirements, including minimum down payment rules and maximum qualifying income caps.
The bottom line
Understanding the resources available is the first step toward achieving your homeownership dream, which helps you build a solid financial plan and approach the market with confidence. For any first-time home buyer in Saskatchewan, this knowledge is your most valuable asset, transforming a long-held ambition into a successful and sustainable investment.
