First home

FHSA or RRSP? A practical guide for first-time home buyers

Two useful Canadian accounts can support a home purchase. Here’s how to understand their different roles.

The short version

An FHSA combines a potential contribution deduction with a tax-free qualifying withdrawal, while the Home Buyers’ Plan may let an eligible buyer withdraw from an RRSP. The right order depends on eligibility, timeline and cash flow.

Make it personal

Your best next step depends on your complete circumstances. Use this guide as a conversation starter, then review important tax, legal, product and eligibility details with qualified professionals.

Create my roadmap →