Canada’s 2025 federal budget is now passed, and while it includes several housing-related measures, the impact depends on where you are in your homeownership journey. If you are buying in Alberta, thinking about upgrading, or preparing for a mortgage renewal, here’s what the new budget means for you. I’ll also share how working with me, Josh Tagg, can help you navigate these changes with confidence.

GST Exemption on New Builds for First-Time Buyers

One of the biggest announcements is the removal of the GST on newly built homes for first-time buyers. This applies to new homes priced up to one million dollars, with a partial reduction on homes priced between one million and one and a half million.

This could make new construction more affordable for first-time buyers in Alberta, especially in communities around Calgary, Edmonton, Red Deer, and growing towns where new builds are common. Lower upfront costs mean you may need a smaller mortgage, which can improve your long-term affordability.

Keep in mind that this measure only applies to new homes, not resale homes. If you’re wondering whether a new build makes sense for you, I can help you compare the true costs of both options and find the best mortgage structure for your situation.

Limited Direct Relief for Current Mortgage Owners

If you already own a home and are preparing for a renewal, the federal budget does not include broad mortgage relief measures. There is no across-the-board support for interest payments or mandatory amortization extensions.

This means your renewal strategy is more important than ever. If your current rate is much lower than today’s rates, renewals can feel stressful. As a mortgage broker, I can review your options, negotiate on your behalf, and help you secure a rate that fits your budget. Many Alberta homeowners are surprised by how much flexibility they have once we explore different lenders and terms.

Housing Supply Measures That Could Help Alberta Buyers

The budget includes billions in funding to speed up homebuilding, support multi-unit construction, and expand financing options through CMHC. This includes more funding for modular housing, faster approvals, and improvements to the Canada Mortgage Bond program.

For Alberta homebuyers, this could help moderate price growth over the next several years. More supply means less pressure on bidding wars and more choice for buyers. While these changes won’t be immediate, they should help improve affordability over time.

If you’re planning to buy in the next couple of years, I can help you plan ahead so you’re ready when inventory increases and opportunities open up.

Impact on Home Values and Market Stability

More new builds and increased supply could slow the pace of home price growth in Alberta. After several years of strong appreciation, this may help keep the market more balanced.

For current homeowners, this means your equity may grow more steadily rather than sharply. For buyers, it means a more predictable market, which can make budgeting and qualifying for a mortgage easier.

Stability is helpful for both groups, especially when planning a renewal, refinance, or upgrade.

What This Means for You in Alberta

The biggest takeaway from this year’s federal budget is that the changes help certain groups more than others.

If you are a first-time buyer considering a new build, you may benefit directly from the GST exemption. If you already own a home, most of the impact will come indirectly through changes in housing supply rather than through interest rate relief.

Your mortgage decisions still depend more on your lender, your rate options, and your long-term plan. That’s where I come in. Whether you’re buying your first home, renewing your mortgage, or exploring a move-up property, I can help you understand how the budget affects your situation and guide you toward the best mortgage strategy.