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The Home Buyers' Plan (HBP)

The Home Buyers' Planallows eligible individuals to withdraw up to $25,000 tax free from their Registered Retirement Savings Plan (RRSP)to purchase or build a qualifying home.

Delivered by: Canada Revenue Agency (CRA)

Eligibility Information

The Canada Revenue Agency considers the following persons first-time home buyers:

  • persons, including former homeowners, who have not owned a home they occupied as a principal place of residence at any time during the four-year period before the date of withdrawal of funds
  • disabled persons acquiring a more accessible home
  • persons acquiring a more accessible home for a disabled person related to them by blood, marriage, common-law partnership or adoption
  • persons providing funds to a disabled person related to them by blood, marriage, common-law partnership or adoption, to build or purchase a more accessible home

Other criteria may apply.

Dates and Deadlines

  • Participants must begin repayment two years after withdrawing the funds.
  • Amounts withdrawn under the Plan must be repaid over a period of no more than 15 years.


For all your premium real estate services, please contact Maria Mak and her team at Sutton Centre Realty at 604-839-6368 or visit her websites at
www.mariamak.ca, www.mariamak.com, You'll be smiling too!

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