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



Contact Me

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

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

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

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

Kristin West-First-Time Home Buyer

Oct 15th, 2022

If you are in search of an honest, reliable, and knowledgeable realtor, look no further because Aaron is your guy! He helped me purchase my home through the most difficult housing market during the pandemic. During when home inspections were essentially non-existent, I could trust Aaron to guide me in the right direction whether or not the property was a wise choice or not! He is very knowledgeable in conditions of the home, electrical, plumbing, proper grading, etc, etc.! He was so patient and reassuring during an immensely frustrating time in an over inflated market. Aaron found us our forever home and I would highly recommend him to anyone looking to buy or sell their home! Kristin West-First-Time Home Buyer

KWKristin West

Web4Realty

Real Estate Websites by Web4Realty

https://web4realty.com/

Call Now Email Now