Congratulations, Homeowner!

You have made it through all eight modules of the FirstHomeGuide.ca education program. From assessing your readiness and saving your down payment to finding the right home, negotiating your offer, and closing the deal — you now have the knowledge to navigate the Canadian home buying process with confidence.

This is no small accomplishment. Buying your first home is one of the biggest financial decisions you will ever make, and you have taken the time to prepare properly. That preparation will pay dividends for years to come — in better financial decisions, fewer surprises, and a stronger foundation for building long-term wealth.

Your First-Week Checklist

The first week in your new home is exciting — and busy. Here are the essential tasks to take care of right away:

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Safety and Security (Day 1-2)

• Change all the locks
• Locate the main water shut-off valve
• Locate the electrical panel
• Locate the gas shut-off valve (if applicable)
• Locate the furnace and water heater
• Test all smoke detectors and carbon monoxide detectors

Utilities and Services (Day 1-3)

• Confirm all utilities are active in your name
• Set up garbage and recycling collection
• Set up mail forwarding with Canada Post
• Record all utility meter readings

Administrative Updates (First Week)

• Update your address with the CRA
• Update your driver’s licence and health card
• Update your address with bank, credit cards, and insurance
• Update your address with your employer
• Notify your auto insurance company

Getting Settled (First Week)

• Do a thorough walkthrough
• Clean before unpacking
• Meet your neighbours
• Take photos of every room

Tip

You do not need to do everything in the first week. Focus on safety (locks, shut-offs, detectors), essential utilities, and the most critical administrative updates. Everything else — decorating, organizing, and non-urgent repairs — can wait. Give yourself permission to settle in gradually.

Your Financial First Steps

In addition to the practical tasks above, take care of these financial items in your first few months:

• Set up your emergency fund contributions. Even a small automatic transfer of $100 to $200 per payday into a dedicated high-interest savings account gets you started. You can increase it as your budget stabilizes.
• File for the Home Buyers’ Tax Credit. On your next tax return, claim the Home Buyers’ Tax Credit — a $10,000 non-refundable tax credit worth up to $1,500 in tax savings. If you purchased jointly, you and your partner can split the credit. Make sure to also set up your property tax payments on a schedule that works for your budget.
• Set up your HBP repayment plan. If you used the Home Buyers’ Plan to withdraw from your RRSP for your down payment, repayments begin in the second year after withdrawal and are spread over 15 years. Set up a reminder so you do not miss the deadline — missed repayments are added to your taxable income.
• Close or convert your FHSA. If you used a First Home Savings Account, ensure the account is properly closed or converted after your qualifying purchase, per the program rules.
• Review your home insurance policy. Now that you are living in the home, confirm that your coverage reflects the actual contents and any features you want protected. Add sewer backup and overland flooding riders if you have not already.

Keep This Guide Handy

Homeownership is a journey, not a destination. The house you bought today will need care, attention, and smart financial decisions for years to come. Here are situations where you will want to revisit this guide:

• Mortgage renewal time — Review the Mortgage Renewal Strategy section 120 days before your term ends. Do not auto-renew.
• Major renovation planning — Review the Energy Efficiency section for available grants and rebates before starting a project.
• Tax time — Review the government programs section to make sure you are claiming every credit and benefit you are entitled to.
• Selling and buying again — If you decide to move, much of this guide applies to your next purchase. And as a second-time buyer, some programs (like first-time buyer rebates) will no longer be available — making the information here even more valuable for planning.

Tip

Bookmark FirstHomeGuide.ca and come back whenever you need a refresher — whether it is mortgage renewal time, you are planning a renovation, or you want to revisit the government programs available to you. This guide will be here whenever you need it.

Share the Guide

If this guide helped you, consider sharing it with friends, family, or colleagues who are thinking about buying their first home. The Canadian home buying process is complex, and many first-time buyers do not know where to start. A single link to this guide could save someone thousands of dollars and countless hours of confusion.

A Few Final Words

Homeownership is a journey that comes with responsibilities, surprises, and rewards in equal measure. The house you bought today will be the backdrop for years of memories — celebrations, quiet evenings, milestones, and everyday moments that make a house a home.

Here are a few pieces of advice to carry with you:

• Keep learning. Tax rules, government programs, and mortgage products change regularly. Stay informed by checking back on this guide for updates and following trusted Canadian personal finance resources.
• Build your team. A good mortgage broker, real estate lawyer, accountant, and home inspector are professionals you will need throughout your homeownership journey — not just at purchase time. Keep their contact information handy.
• Be patient with yourself. Every homeowner makes mistakes. The key is to learn from them and make better decisions next time. Your first home does not need to be perfect — it just needs to be yours.
• Enjoy your home. Beyond all the financial planning and maintenance checklists, your home is where life happens. Make it yours. Make it comfortable. Make it a place you love coming back to.

Welcome home.

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