Are you dreaming of owning a home in North Vancouver but facing challenges saving for a downpayment? The RRSP Home Buyer’s Plan (HBP) could be the key to turning those dreams into reality. In this guide, we’ll explore how this government-backed program allows you to tap into your RRSP for your North Vancouver home purchase, making the path to homeownership more accessible.
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USING YOUR RRSP FOR A DOWNPAYMENT THROUGH THE HBP
As the March 1st, 2021 RRSP deadline approaches for the 2020 tax season, if you have money saved for a downpayment but you’re not quite ready to buy a home, here’s a little strategy that might interest you. Did you know that you can use the money saved in an RRSP as a downpayment? It’s called the Home Buyers’ Plan, or HBP for short.
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