RRSP Home Buyers Plan

The Home Buyer’s Plan (HBP) is a government program that allows home buyers to withdraw up to $25,000 from their Registered Retirement Saving’s Plan (RRSP) to put towards buying or building a new home.

Before you can withdraw funds, you have to be entered into a written agreement that specifies whether you will be buying or building your new home.  You also must occupy this space no later than a year after buying or building this new home.

To take advantage of this program you have to be considered a first-time buyer. You are not a first-time home buyer if you (or you and your spouse) has owned a home which you have occupied as your principal place of residence in the past 5 years.

Once those conditions are met each person can withdraw up to $25,000 tax-free from their RRSP for a new home. Couples, including common-law, can withdraw up to $50,000. You will not pay income tax on these amounts as long as these funds will be repaid into an RRSP in the future.

Existing homeowners can also use this program to purchase an accessible home or a home for a disabled dependent relative. The intended individual must qualify for the Disability Tax Credit (DTC) and this home must be more accessible or better suited to the care of this individual. 


Also Check Out Our Government Link



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Curtis-Home Seller

Jun 8th, 2021

Aaron went above and beyond as our agent. Professional, caring and always making time for a call or a visit to answer any question we had, or offer up help to finish a task or project off. I have bought two houses and sold two house in my lifetime and honestly never ever experienced this type of service and experience over any other agent used in the past.

Everything he said from painting my main floor to helping renew the trim, doors and handles and more. Aaron brought in a dumpster to help me purge my house and garage at my request and took care of everything out of his own fee which was honestly totally surprising and helpful. Aaron brought in an electrician to standardize the lighting on the main level and was able to honestly get us more for the house then I could have ever imagined. (A lot more) Aaron displayed excellent professionalism, knowledge and understanding of the real-estate market and getting the advertising of our home out to the public view.. Aaron had an amazing online tour done and posted to the web and staging was done in the home with professional photography. At the end of all his hard work and dedication I almost didn't want to leave.

If your thinking of buying or selling contact Aaron Albright of Real Estate Done Right. I personally will never look else where in my next purchase in the coming years. Thanks again for everything you did for us Aaron and the care you showed towards us. YOU ARE THE BEST! ~Curtis

CACurtis Anderson

Alexis-Home Seller and Buyer

Dec 6th, 2023

Never met an agent like Aaron. I can honestly say that I would recommend him to any one that's buying and/or selling. He's with you through every step, answering any questions you may have and making certain that you are happy with your decision. Although it's a short and professional relationship, he makes it feel like you were friends. He has made my decision so much easier. Thanks for going above and beyond, Aaron!

Alexis Harding

AHAlexis Haley

Nicole & Jay DeHaan-Condo Sellers

Jan 4th, 2024

My wife and I recently had the pleasure of working with Aaron Albright for the sale of our condo in Pickering, and we are absolutely thrilled with the results. Aaron's dedication, expertise, and willingness to go above and beyond truly set him apart as an outstanding realtor.
From our initial consultation, Aaron demonstrated a deep understanding of the local real estate market and a clear plan for optimizing the sale of our condo. What truly impressed us, however, was his commitment to ensuring that our property was in the best possible condition before hitting the market. Not only did Aaron provide invaluable advice on staging and presentation, but he also took it upon himself to help with painting and minor repairs to enhance the overall appeal of our condo. This level of dedication was far beyond our expectations and made a significant impact on the outcome.
Throughout the entire process, Aaron's communication skills were exceptional. He kept us informed at every step, promptly answering our questions, and addressing any concerns we had. His transparency and honesty fostered a sense of trust that made us feel confident in every decision we made together.
When it came to negotiations, Aaron's strategic approach and market knowledge were evident. He skillfully navigated the complex process, ensuring that we received the best possible offers for our property. Thanks to his efforts, we were able to secure a deal that exceeded our expectations.
Aaron's commitment didn't stop once the sale was finalized. He continued to provide guidance and support all the way through the closing process, ensuring a smooth transition for us.
In conclusion, we can't speak highly enough of Aaron Albright's services as a realtor. His dedication, attention to detail, and willingness to go the extra mile truly make him stand out in the industry. If you're looking for a realtor who will not only help you sell your property but also make sure it's presented in the best possible light, Aaron is the one to choose. Selling a property can be a stressful experience, but with Aaron's expertise and personal touch, it turned into a seamless and rewarding journey. Thank you, Aaron, for your exceptional work!  Nicole & Jay-Condo Sellers

JDJason De Haan

Mike & Louise Whitney-Home Seller & Buyer

Aug 27th, 2019

"A wonderful transition which Aaron made happen seamlessly. Everything was completed in a timely fashion with the utmost professionalism. Top notch service all the way. Aaron went above and beyond to make our move less stressful. His suggestions and advice were very useful and greatly appreciated. 
Cheers Aaron."
~Mike & Louise

MWMike Whitney

Steve & Melanie-New Home Buyers

Aug 27th, 2019

"Dealing with Aaron has been awesome. Nothing beats the expertise he brings and the piece of mind knowing your best interests are his #1 priority. He does his homework and provides very detailed information to help you make the best decisions. I've had the luxury to have bought a home with Aaron on our team and it couldn't have gone any better. We got exactly what we wanted, on our terms and you can't beat that. Not only do I recommend Aaron Albright, I trust him 100% and hope everyone has the opportunity to have him in your corner on your next purchase or home sale. You won't be disappointed." -Steve & Melanie

SCSteve Chadwick

Web4Realty

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