Toronto, ON December 20, 2007 ? The Canadian real estate market has been growing over the past seven years and is currently at an all time high. With the cost of houses and condominiums rising exponentially each month, it has become more difficult for potential homebuyers to enter the market. There are many resources available for new homebuyers of which they might not even be aware.
RRSP Home Buyers Plan.com is a comprehensive site providing knowledge and resources to Canadians looking to enter the real estate market. The Home Buyers Plan (HBP) allows first-time homebuyers or persons who have not been homeowners for five years to withdraw funds from their RRSP to purchase a home, with no income tax payable on the amount withdrawn.
In addition to information about the HBP program, the site lists Financial planners who can assist homebuyers by providing navigation through the program as well as provide other investment and financial advice the homeowner may require. Further, there are resources for information on insurance, estate and will planning and tax strategies.
As home prices continue to rise, the dream of homeownership can quickly move from a reality to a dream. You should definitely explore the use of an RRSP Home Buyers Plan in consultation with your accredited financial planner.
