Home prices and interest rates are in the news on a daily basis. Sometimes, it’s good news for homebuyers, but over the last year, it has been a roller coaster ride for anyone who is hoping to become a homeowner for the first time.

This week, we’ve gathered up some of the most helpful information there is for first-time buyers in Ontario. It’s a concentrated dose of the key things that people often miss. If you have someone in your life who has been thinking of moving into a place of their own, feel free to share this with them.

The holidays will be a quiet time for the real estate market, but the new year will be a time of renewed focus on people’s goals, and it’s important to be prepared.

First-time buyers should get ahead of the spring rush and get a head start if they want to be successful in 2024.

PS I’m launching an in-person masterclass in Guelph, just for first-time buyers. Details to come in two weeks.

Check out our latest article:

Get all the tips and tricks you need, including a free downloadable guide, to unlock the secrets to successful homeownership.

Check out our featured video:

Learn about the withdrawal rules for a First Home Savings Account (FHSA) in our quick video!

Additional articles:

Is My Work Insurance Enough?

Is Buying a House Worth It?

Why You Shouldn’t Always Trust Social Media Influencers

Important Upcoming Dates

Registered Education Savings Plan (RESP) and Canada Education Savings Grant (CESG):

• RESP deadline for 2023: December 31, 2023

• CESG available until the end of the calendar year the beneficiary turns 17

Contributing to RESP is designed to help Canadians save for post-secondary education. By contributing to an RESP, you are building a fund that can be used to cover educational expenses such as tuition, books, and living costs.

First Home Savings Account (FHSA):

• Annual contribution period: January 1 to December 31

• Contributions must be made before December 31 to be deducted from 2023 taxable income

If you want the tax credit for this year, which can help you grow your down payment savings, you should contribute before the end of the year.

Wanna learn more? Lets talk

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