Home ownership is a dream for many people, but it’s not always easy for many of us. The home ownership plan can help.

RAP allows you to kill two birds with one stone !!!!

The Home Buyers’ Plan (HBP) is a government program that allows first-time buyers like you to achieve financial independence. You can become a homeowner while accumulating funds for your retirement by opting for a Registered Retirement Savings Plan (RRSP).

Is the HBP right for me?

It is suitable for most households. With the HBP, your dream of home ownership becomes a reality while saving thousands of dollars in tax refunds. For working spouses, the refunds could amount to between $10,000 and $21,000, more than enough to purchase your first home. The HBP allows each taxpayer to withdraw up to $25,000 tax-free from their Registered Retirement Savings Plan to purchase a home.

What if I have never contributed to an RRSP?

You will still be able to take advantage of the Home Buyers’ Plan, as long as you earn or have earned income that qualifies you to contribute to an RRSP. By contributing the maximum amount to your RRSP, you get significant tax refunds!

What if I don’t have the money to contribute to an RRSP?

Investing up to $25,000 in your RRSP is very easy, as unused contributions since 1991 can be clawed back and deducted. In addition, by choosing a 90-day term loan from your financial institution, you have an amount that you can repay from your RRSP. This way, you get your tax deduction legally. After that, you have almost 18 years to reinvest the funds in your RRSP, without interest. It’s a simple method; the results are great!

How can I get more information about the HBP?

Consult me, I will provide you with more information on this generous government program in order to facilitate your steps in the acquisition of your home.