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Aaron Albright Real Estate

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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Tyler-First Time Home Buyer

Aug 27th, 2019

"Bought my first house with Aaron in May. Couldn't have gone better. Aaron was there anytime I needed to talk. He is extremely knowledgeable and goes above and beyond for his clients. Highly recommended!" Tyler M.

TMTyler Moreau

Natalie & Melina-Home Sellers

Aug 27th, 2019

"We recently sold our home with Aaron and despite living 4 hours away, the process couldn't have been any more seamless! After a thorough evaluation was done to the home, it was conclusive that a ton of work needed to be done to the house, prior to selling. Aaron personally put in a tremendous amount of work and hours preparing our house for selling, from detailed cleaning, painting, exterior landscaping and maintenance just to name a few! Communication was flawless and any road bumps we encountered were always quickly rectified with alternative suggestions and guidance while our desires always remaining at the forefront of the final decision making. Aaron's tireless work ethic, business savvy mentality and extensive knowledge of the market, resulted in multiple offers and our home being sold within weeks, despite the slow down in market conditions. Aaron takes great pride in his work. He’s extremely meticulous, detailed oriented and possesses an undeniable charisma. You have exceeded our every expectation! We would like to thank you and the fantastic team of contractors for going above and beyond your scope of duties and making this an extremely stress free process! We would highly recommend Aaron's services to anyone looking to Buy or Sell!" -Melina & Natalie

NANatalie Asplin

Mandy & Chris-Home Seller & Buyer

Aug 16th, 2020

Aaron was 110% commited to us and the sale and purchase of our home. He was always there to answer any questions we had, took us to multiple showings, and was quick to reply.
We bought our new home at the very beginning of Covid-19 and then the rush was on to sell! During a time where new guidelines were put into place (no open houses, complete sanitation after each showing etc) He worked tirelessly and made it happen! We were able to sell and get the price and closing date we wanted during a very unpredictable time in history. Thank you Aaron for your hard work! ~Mandy & Chris

MAMandy Ackroyd

Lucas & Julie-Home Sellers and Buyers

Jan 19th, 2019

Aaron truly is an amazing person. He helped find our perfect family home. With time, kindness, patience and professionalism, he was always there for anything. We appreciate everything you did for us and without a doubt, if you're looking to sell or buy, Aaron's your guy! He is absolutely the best! ~Julie & Lucas

LKLucas Julie Krasovskis

Reg & Kelly-Home Seller and Buyer

Aug 27th, 2019

"We had an awesome experience with Aaron both in purchasing our new home and selling our old home. Aaron has a lot of heart and truely cares about the families that he works with. It really is true "If you want it done right, call Aaron Albright! ". His professionalism is wonderful and I can definitely say that we would not be such a happy couple right now, with new keys, if it wasn't for Aaron."-Reg & Kelly

RNReginald Nash

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