Why Buy A Home

There are several reasons why buying a home is an excellent idea:

* On a month to month basis buying a home will not cost you much more than the cost of renting a home

* Each month you are investing in yourself and in your future

* Affordable interest rates and stable housing prices in Sarnia Lambton make owning very attractive over renting

* Getting a mortgage has never been easier, with as little as 5% down plus closing and moving costs you can find a place to call your own.

* RRSP funds can be used towards your down-payment tax free (ask your mortgage specialist or realtor how this works) The Home Buyer’s Plan (HBP)

* Generally, you can withdraw up to $20,000 from your RRSP funds to buy or build a qualifying home

* Withdrawals must meet all HBP conditions for first time home buyers

* Before you can withdraw funds you must have entered into a written agreement to buy or build a qualifying home which you must occupy no later than one year after buying or building the home

* If you qualify with a spouse or other individuals, each of you can withdraw up to $20,000

* You cannot withdraw an amount from your RRSP under the HBPif you or a spouse owned the home more than 30 days before the date of your withdrawal

* Monies withdrawn are tax free provided you repay the funds within the specified period (currently 15 years) For further information on these programs please fill out the form.

Updated April 2017

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