The 2016 Home Buyers’ Plan

You’ve heard of the Home Buyers’ Plan, right? That thing that helps you buy a home by letting you use your RRSP as part of your down payment? Sure you have. But do you actually know how to use it? And if you did, did you know the plan changed when the Liberal government took over last year?

Let’s say you’ve looked at whether renting or owning is best for you, you’ve calculated the up front costs, you’ve figured out the continuing costs as part of an ongoing budget, and you’ve decided you want to join the world of home ownership. Yay you!

That’s a huge decision and you probably put a lot of thought into it. So now that you’ve decided to become a home owner, how do you actually get there?

One of the ways is by taking advantage of the Home Buyers’ Plan, which is available to first time home buyers in Canada. Continue reading “The 2016 Home Buyers’ Plan”