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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Glenn & Dianne-Home Sellers

Jan 28th, 2021

Just wanted to thank you so much for all your hard work and true professionalism in helping us sell our house. You were absolutely amazing from our first meeting until closing. You did everything you promised you would do and more. If we ever decide to purchase again or know anybody who needs a highly knowledgeable real estate agent I would highly recommend they contact you.

GBGlenn and Diane Brown

Jay & Karly D'Rocha-Home Sellers

Feb 12th, 2024

I recently had the pleasure of working with Aaron Albright as my real estate agent to sell my investment property, and I cannot express enough how grateful I am for his outstanding service. From start to finish, Aaron demonstrated unparalleled professionalism, positivity, and a sincere dedication to ensuring the success of our venture.

One of the most remarkable aspects of working with Aaron was his upfront and honest approach. From our initial consultation, it was evident that Aaron's integrity was unmatched. He provided transparent communication, never sugarcoating any aspect of the process. His sincerity instilled trust and confidence in my wife and me, making us feel comfortable every step of the way.

What truly sets Aaron apart is his willingness to go above and beyond the call of duty. He didn't just list our property and wait for offers to come in – he rolled up his sleeves and got to work. Aaron meticulously inspected the house, made insightful recommendations for improvements, and even took on the responsibility of planning, cleaning, and rebuilding aspects of the property to enhance its appeal.

Aaron's vision for presentation was nothing short of exceptional. His keen eye for detail ensured that both the exterior and interior of the house looked absolutely magnificent. Thanks to his efforts, my wife and I found ourselves marveling at the transformation, almost tempted to move back in ourselves!

Throughout the process, Aaron never once pressured us to make decisions we were uncomfortable with. Instead, he encouraged us to make economical choices when investing in renovations and preparing the house for sale. His guidance was invaluable, helping us maximize the property's potential while staying within our budget.

One of Aaron's greatest assets is his vast network of high-quality technicians who offer reasonable prices. Whether it was a repair person, installer, or contractor, Aaron had a reliable professional ready to tackle any task. His connections saved us time, money, and hassle, ensuring that every aspect of the property was in top condition.

Aaron made the entire sales process simple and easy to understand. He advocated tirelessly on our behalf, ensuring that our best interests were always prioritized. Even after the sale was finalized, Aaron surprised us with a thoughtful cashback gift, further exemplifying his generosity and commitment to client satisfaction.

My wife and I are Aaron's biggest fans, and we wholeheartedly recommend his services to anyone embarking on their real estate journey. With Aaron by your side, you can trust that the stress and worry will be kept at bay, leaving you with more money in your pocket and a lasting sense of gratitude for his exceptional service.

Jay & Karly D'Rocha-Home Sellers
 

JDJason DRocha

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

Josh & Genny Harding-Buyers and Sellers

Jan 20th, 2022

There’s many people out there that can pass all the tests to obtain their Realtor license, and away they go showing homes to people in hopes for a sale. Then you have Aaron Albright! This man goes above and beyond like I’ve never seen before and I’ve had 3 homes in the past, and Aaron just sold my recent home and helped us to buy another! Many Realtors try to push homes on people to make a sale, but Aaron…? He gives his honest opinion, doesn’t matter the price of the home; gets his hands dirty trying to figure out why certain issues are the way they are in a home, to make you second guess why you should buy a home or not? He has a very competitive and fair commission structure when listing, keeps his professionalism, is easy to deal with and is ((very very)) patient ie; text or calls<<…this is vital. The list goes on really. You will not be disappointed if you hire him as your realtor. Trust me! Things you would miss when viewing  properties…he'll point out in the best of your interest and in today’s market, you need a ((realtor/home inspector)), as I call it.~Genny & Josh

JHJosh Genny Harding

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

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