When is the right time to buy a house?
When is the right time to have a baby? When we are financially stable
and mature enough to face all responsibilities…
We always find “good” excuses such as I am not ready yet, in today’s
economy… I’de better wait, etc. The fact is that for the most of us we
will NEVER be 100% ready and that’s why in life we need to take from time to
time calculated risks. And this applies for all big decisions in life:
having a baby, getting married, buying a house or even taking a vacation.
For most Canadians, purchasing their first home can be very overwhelming and financially intimidating.
Knowing that you are bound to mortgage payments to the bank for the next 25 or 30 years seems out of reach for most individuals.
Did you know that the Federal and Provincial Government offers some tax incentives to first time homebuyers?
- The Home Buyer’s Plan allows first time home buyer’s to withdraw up to $25,000 from their RRSP. You will have up to 15 years to repay the money back to your RRSP. http://www.cra-arc.gc.ca/tx/ndvdls/tpcs/rrsp-reer/hbp-rap/menu-eng.html
- Also available: the ECOENERGY retrofit grant, you can receive up to $5,000
to offset the cost of making energy efficient improvements. http://oee.nrcan.gc.ca/residential/17617
- Similar to the ecoENERGY Federal retrofit grant, the province of
Quebec offers their own similar programs. They are essentially
the same program and you will receive a grant from both programs at the
same time! http://www.efficaciteenergetique.mrnf.gouv.qc.ca/en/my-home/renoclimat/
If you have any question, or you would like to know how or IF we can assist YOU save/make more money in REAL ESTATE please contact us
Catalin Ivan – Real Estate Broker
Tel : 514 609-4826 Email:
Dragos Grosu – Real Estate Broker
Tel : 514 996-9393 Email: