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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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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

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

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

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

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
Aaron Albright Real Estate
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