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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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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

Lisa & George MacGregor-Home Sellers

Jan 27th, 2022

Aaron was honest, helpful and very knowledgeable. He walked us through the process (first time selling for both of us) in a very clear and concise manner. His staging and relocation program were exceptional! We highly recommend Aaron as an agent! ~Lisa & George

LMLisa George MacGregor

Craig & Carol-Lakefront Buyers

Nov 21st, 2019

I can't say enough about how fantastic Aaron was during our search for our cottage home!! He took to heart our concerns, our dreams and our determination to find the perfect place for us. Aaron spent hours researching different lakes, and the ins and outs of different areas so that we were very knowledgeable in making our final decision.
We are SO happy with our new property, and have Aaron to thank for being so patient , trustworthy and just as determined to find the perfect place for us!!
I've never met a realtor who cared as much as Aaron does about his client's happiness...Thanks again Aaron!! ~Craig and Carol

CBCraig Baxter

Don & Kim -Home Sellers

Oct 13th, 2021

 We were pleasantly surprised by Aaron’s expertise and knowledge . From the initial discussion of selling our home to the final sale and signing of paperwork , Aaron has been with us every step of the way. He answered any questions we had , staged our home superbly and guided us through the offers made and considering our options. We would highly recommend using Aaron Albright as your realtor in selling your home. ~Kim & Don

DMDon and Kim MacNeil

Judy-Home Seller

Aug 27th, 2019

"Aaron did a wonderful job of getting my little house sold and sold fast! It went on the market Wednesday and we had a great offer by Saturday. Thank you Aaron!"-Judy

JRJudy Rolff
Aaron Albright Real Estate
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