First time buyer here with a complex situation
Hello,
My wife and I bought a pre-construction townhome in 2024. After several delays, we were able to close it in July 2026. We bought it as first time home buyers in Ottawa. so we got the $4000 CAD LTT rebate and $24,000 CAD is included in the sale price as part of the HST rebate. We took funds from both our FHSA and we put 20% down.
We bought the home with the intent to live there but unfortunately, circumstances changed. We had a baby in January 2026. I used to work remotely for a company in Toronto but the company issued a return-to-office mandate which made us move to Toronto by the end of June 2026 and rent a place (we closed the home on 2nd of July, 2026)
What do i do in this scenario? Is it possible for us to rent the new home out without losing LTT rebate and HST rebate? Will our mortgage rate and terms change since the house is not owner occupied?
Currently, we're using both the houses but I do plan on renting the Ottawa home.