Significant Changes to RRSP First Time Home Buyer Plan

Video Description

In April 2024, the federal government made significant changes to the RRSP Home Buyer's Plan, including a larger contribution amount, and a longer grace period for installment payouts. In this video, Larissa Fitzsimons, Toronto Real Estate Agent with Royal LePage Signature Realty, explains the changes made, and how they will impact first time home buyers in a big way. Visit Ratehub for more information on recent changes: https://www.ratehub.ca/rrsp-home-buyer Video Chapters 00:00 - Introduction to RRSP Home Buyers Plan changes. 00:46 - Original RRSP Home Buyers Plan details. 01:05 - Combined RRSP withdrawal for couples. 01:25 - New changes: Withdrawal limit increased to $60,000. 02:08 - Benefits for savers using RRSP for home purchase. 02:27 - Rate Hub article on changes. 02:52 - Extension of repayment period details. 03:41 - New repayment flexibility benefits. 04:24 - Encouragement for Canadians to invest in RRSPs 🗓️ Book a call with me: https://tinyurl.com/3d7xuchh 📝 DOWNLOAD our FREE Rental, Seller, or Buyer guide: https://tinyurl.com/4px8mhj3 📊 Use our handy mortgage calculator: https://tinyurl.com/3f6d78hn Follow Me on Social Media: Instagram, Facebook, TikTok: @rentbuyorselltoday Linkedin: Larissa Fitzsimons I'm Larissa, a Diamond Award-winning Realtor with Royal LePage Signature Realty, specializing in Toronto's downtown market. I love assisting first-time buyers, and have been ranked in the top 3% of Royal LePage Agents two years in a row. Outside work, I enjoy exploring new restaurants, staying active, and volunteering with DIBS Rescue, where I foster dogs with the help of my own rescue, Arya. If you're looking for a home (or a dog!), let's connect! ---------------- The views presented here are exclusively those of Larissa Fitzsimons and do not represent the positions of Royal LePage or the TRREB. They should not be interpreted as guidance or a foundation for an agency relationship. It's recommended to seek advice from a professional advisor before making decisions based on the content of these videos. This message is not meant to provoke or lead to the violation of any current agency agreements. Additionally, this should not be considered as financial advice.