Home Buying Tips

Whether you've owned a home or are moving into your very first home, you're sure to have a number of questions about the process. In order to assist future and current homeowners, Lionsworthe Homes has compiled useful tips to help you determine what is most important to you when buying a home and how to begin your home search.

First Time Home Buyers Programs

So you've decided to buy your first home...

Buying a home is a big decision, and there is no doubt that it's equally your biggest investment as well. Therefore, it's important that you have all of the facts when making your first purchase. At Lionsworthe Homes we realize that this is a significant step in anyone's life, so we've taken all steps to make your first purchase easier.

For example, the Canadian Revenue Agency offers the Home Buyers' Plan (HBP), which allows first time buyers to withdraw up to $20,000 from RRSP's, to buy or build a 'qualifying home'. You do not have to include eligible withdrawals in your income when you withdraw funds from your RRSP under HBP; however you do have to repay the amounts over a 15 year period (for more information on this and other federal programs visit www.cra-arc.gc.ca)

First-time buyers may also qualify for unique tax benefits and incentives.

Lionsworthe Homes offers flexible deposit plans to assist qualified first time home buyers with their purchase. Please ask your sales consultant for more details.

As a first time buyer there are a variety of programs and services that may benefit you, so it's critical that you educate yourself not only about the market but the financial options at your disposal. The internet is a great resource for information, as is your personal financial advisor, accountant or lawyer.