How to Use First-Time Home Buyer Plans Twice in Canada

Canada’s first-time home buyer programs like the First Home Savings Account (FHSA) and Home Buyers’ Plan (HBP) allow multiple uses if you meet certain conditions, such as not owning a principal residence for four years. FHSA lets you save up to $40,000 tax-free, while HBP allows borrowing up to $60,000 from RRSPs, repayable over 15 years. Provincial programs have stricter rules, often disqualifying previous homeowners.

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