{{ MUST READ: For All First Time Home Buyers }}

If you know me at all you know I LOVE a deal.  

Sometimes people shake their head at me and wonder, “what in the world are YOU doing….you have already gotten a deal!”  Maybe this is the case, but, if there are more ways than one to save money than I am ALL ABOUT THEM.  Here’s how I look at it…both in negotiating for a client, and for myself day to day.  If I can save a bit more – or negotiate the price down just a bit further - it is the FASTEST money I could ever make – for you or for me!

So, for all you first time home buyers out there….whether you are currently looking for your first place or you’re in the process of saving and planning for a home one day…this is one of those deals I’m talking about and some information you NEED TO KNOW.

As a first time home buyer you can withdrawal up to $25,000 TAX FREE from your RRSP to use towards the down payment of your first home.  So that means if you are a couple you can withdrawal up to $50,000 – still at a maximum of $25,000 per person.

WHAT DOES THIS MEAN? It means that you should be putting the money that you’ve been saving for your down payment into an RRSP. This is an excellent way to save for a down payment as well as have the contributions that you put into your RRSP account be a deduction off the current year’s taxes.  Take advantage of accessing your money tax free and getting into the real estate market by using this first time home buyer’s program that is available to you. Let’s not pay the government anymore than we need to. So start putting your savings into an RRSP account today!

As always, I’d love to hear from you.  If you would like more information about this RRSP program, or for help with any of your real estate needs, be sure to give me a shout at 604.910.LACE (5223)

Lacey

PS:  Did you know that this RRSP program was created and developed by the Fraser Valley Real Estate Board members?? It was brought as an “ASK” to the government by REALTORS a number of years ago and the government liked the idea so much they implemented it.  How’s that for local realtors working on your behalf!