Here's the part that surprises people from other provinces: Regina is one of the best cities in Canada to buy a first home — not just because prices are among the most attainable of any major city, but because of what Saskatchewan doesn't charge you.
The Saskatchewan advantage
Saskatchewan has no land transfer tax. In Ontario or B.C., buying a home means writing a five-figure cheque to the province just for the privilege of the purchase — a tax that adds thousands to every closing. Here, that tax simply doesn't exist; you pay only a modest land title registration fee, a small fraction of what buyers elsewhere hand over. On top of that, Saskatchewan offers its own First-Time Homebuyers' Tax Credit worth roughly a thousand dollars back at tax time. Your first-home dollar goes further here — structurally, not just because homes cost less.
The down payment: what you actually need
The federal minimums: 5% of the first $500,000 of the purchase price, and 10% on any portion between $500,000 and $1.5 million (20% above that). In practice, at Regina's price levels, most first homes need 5% down — on a $350,000 home, that's $17,500. With less than 20% down, mortgage default insurance (CMHC and its competitors) is added to your mortgage; it's a real cost, but it's also what makes 5% down possible at all, and first-time buyers can now access 30-year amortizations on insured mortgages, which meaningfully lowers the monthly payment.
The programs that actually help
FHSA — the first tool to open
The First Home Savings Account is the best first-buyer vehicle ever offered in Canada: contribute up to $8,000 per year ($40,000 lifetime), deduct contributions from your taxable income like an RRSP, and withdraw everything — growth included — tax-free for your first home. If a first home is anywhere in your five-year plan, opening an FHSA now is the single smartest move on this page.
RRSP Home Buyers' Plan
Withdraw up to $60,000 from your RRSP tax-free toward your first home, repayable over 15 years. And yes — you can stack the HBP and FHSA together on the same purchase, which for a diligent saver (or a couple, who can each use both) adds up to serious down payment firepower.
At tax time
Beyond Saskatchewan's credit above, the federal Home Buyers' Amount gives first-time buyers another credit on that year's return. Small individually; together they cover a chunk of your closing costs.
Closing costs: the real list
Budget roughly 1.5–2% of the purchase price beyond your down payment: legal fees (commonly $1,200–$1,800 with disbursements), the title registration fee, a home inspection ($400–$600 — never skip it on a first home), property tax adjustments, and home insurance arranged before possession. One cost you don't pay as a buyer: your REALTOR® — buyer representation is typically compensated through the transaction, which means professional guidance through the biggest purchase of your life at no direct cost to you. (We explain exactly how that works, in writing, before you sign anything.)
The process, in five steps
Get pre-approved — before you look at a single house
A pre-approval tells you your real budget, locks a rate while you shop, and makes your offers credible. A good mortgage broker shops dozens of lenders for you at no cost — our preferred partners include three we trust with our own clients.
Search smart, not endlessly
Browse the neighbourhood guides to find your areas, then set up Home Finder alerts so the right listings find you the moment they hit the MLS® — in a fast market, first word matters.
Offer with conditions that protect you
Financing and inspection conditions exist for exactly one reason: so a first-time buyer can commit with an exit if something's wrong. We'll tell you honestly what a competitive offer looks like for the specific home — and when walking away is the win.
Inspect, finalize financing, breathe
The inspection tells you what you're really buying; your lender finalizes against the accepted price. This is the week questions are free — ask all of them.
Lawyer, keys, done
Your lawyer handles title, registers the mortgage, and moves the money. You handle the part where you stand in your own kitchen for the first time.
Where first homes happen in Regina
The honest answer: more places than your budget fears. Regina's entry-level market spans condos (the lowest entry price — read our honest take on condo fees first), starter homes in established areas across the city, and — the move savvy first-timers keep making — the surrounding towns, where Balgonie in particular delivers a detached family home at prices the city can't match. Every option's live inventory is in our neighbourhood guides, and current market conditions are always in the monthly report.
First-time buying: questions, answered
No — Saskatchewan has no land transfer tax. Buyers pay only a modest land title registration fee, a small fraction of the transfer taxes charged in provinces like Ontario and B.C., where the same purchase can cost thousands more at closing. It's one of the quiet structural reasons a first home is more attainable here.
Yes — they stack on the same purchase: up to $40,000 through the FHSA (tax-free withdrawal, growth included) plus up to $60,000 through the HBP (tax-free, repayable over 15 years). Couples can each use both. For anyone with a few years of runway, this combination is the down payment strategy.
Typically no direct cost — buyer representation is conventionally compensated through the transaction. The specifics are set out in writing in your buyer agreement before anything happens, and we walk through exactly how it works in plain language. Professional guidance through your biggest purchase, with the cost structure explained upfront.
Roughly $23,000–$25,000 all-in: the 5% down payment ($17,500) plus closing costs around 1.5–2% ($5,000–$7,000) for legal fees, title registration, inspection, and adjustments. The FHSA and HBP can supply most or all of it — and the tax credits claw a chunk back the following spring. We'll build the exact number for any home you're considering.
First home on the horizon?
Whether you're buying this spring or saving for two years out, the right first conversation costs nothing and sets everything else up. Zero pressure — first-time questions are our favourite kind.
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or set up listing alerts and just watch for a while
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