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. 


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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

Tonya & Matt Greenwood-Buyers and Sellers

Jan 9th, 2022

"Aaron has exceptional insight, experience and knowledge of the market. When we wanted to sell, he knew how to maximize the appeal of our home within our budget. He took a personal hand in renovating the kitchen, upgrading our yard, fixing problem areas and staging our house – as a result we sold comfortably over asking. When we were looking to buy, he was exceptional in his ability to assess the strengths and problem areas of potential properties, which helped us find a hidden gem of a home well within our price range. Aaron works hard for you and delivers results – and we are so thankful for everything he’s done for us!" Tonya & Matt Greenwood

TGTonya Matt Greenwood

Allan & Lisa-Home Sellers

Aug 27th, 2019

"After interviewing a few other agents, and then sitting with Aaron, we knew he was the one. His knowledge of residential construction and finishing's, along with his confident professionalism, set him apart from the others. After drawing out a sales plan, we executed everything as scheduled and accepted an offer far superseding our expectations, $350,000 over asking!! We highly recommend Aaron when it comes to real estate!"-Allan & Lisa

ALAllan Lalonde

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

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

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