Peterborough Real Estate Agents

Dreams with FHSA and HBP Using Your Savings Account!

Monday Mar 04th, 2024




                                                           Your First Home Dreams with FHSA and HBP


Hey there, future homeowners! Frank Rosso here, your trusted local real estate expert in Peterborough, Ontario. Today, I want to talk to you about two powerful tools that can help turn your dream of owning a home into a reality: the First Home Savings Account (FHSA) and the RRSP Home Buyer’s Plan (HBP).


Let's start with the FHSA. This nifty savings account is tailor-made for first-time homebuyers like yourself. It offers tax advantages that can help you save more efficiently for your down payment. Every contribution you make to your FHSA is tax-deductible, meaning you can keep more of your hard-earned money in your pocket where it belongs. And in a city as vibrant and welcoming as Peterborough, owning a piece of real estate here is a dream worth chasing.


But why stop there when you can supercharge your savings with the HBP? The HBP allows you to borrow up to $35,000 from your RRSP towards your first home – without incurring any taxes or penalties. It's like having a financial safety net that can help you bridge the gap between your savings and your dream home.


You might be wondering how Frank Rosso and Amanda McCaskie, your local Peterborough real estate agents, can help you make the most of these savings strategies. Well, let me tell you – we're not just here to help you find a house. We're here to guide you through every step of the home-buying journey, from exploring neighborhoods to negotiating offers and everything in between.


With our extensive knowledge of the Peterborough real estate market and our commitment to personalized service, Frank and Amanda are your ultimate allies in achieving your real estate goals. So, if you're ready to take the leap into homeownership in Peterborough, Ontario. let's chat. Together, we'll make your first home dreams a reality – one tax-saving FHSA contribution and HBP withdrawal at a time!



RE/MAX Hallmark Eastern Realty 

91 George St. N. Peterborough, Ontario 705 933-9688

Until next time, keep saving those dollars, Peterborough!     

Frank Rosso & Amanda McCaskie Realtors® 

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