Buying a house is the biggest purchase most people will ever make.

When I started out as a financial advisor and financial planner, I was helping many of my clients invest and save for their first home.

Now, I’m helping their children do the same thing and it is still as exciting for me now as it was then to hear them say ….Mary I have an accepted offer on a house.

Of course the landscape has changed, real estate is very expensive and for now, interest rates are quite high.  But there are programs to help people save and reach their dreams.

In this podcast, I’ll be talking about what’s available right now to help first-time home buyers and I couldn’t think of a better person to help me out on this subject than my podcast director and formidable assistant: Nick Saranczuk.

In this episode, we discuss:

• How Nick bought his first home and using the Home Buyer's Plan (HBP). [02:25]
• How saving in a Tax Free Savings Account (TFSA) differs from the HBP. [05:56]
• An overview on the new First Home Savings Account (FHSA) for investors who want to buy their first house. [09:57]
• How to maximize the tax advantages of all programs. [11:35]
• Choosing the right investment profile. [14:09]
• What happens if investors over-contribute to the FHSA. [16:21]

For more information on the FHSA, you can contact Mary.

Thank you for listening

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