Have you started the year by setting your priorities? Setting your goals and visualising where you want to be is one of the keys to reaching your goals. If a home is in your plans for this year, take a look at your financial health and take advantage of the available programs to help first-time buyers purchase their new home. Start by looking at your unused RRSP contribution room and find out how much you can contribute this years to maximize your RRSPs. You can quickly locate that figure on your last Notice of Assessment that Canada Revenue Agency would have mailed you after completing your 2009 income tax.
You can read more about how to take advantage of the Home Buyers Plan (HBP) and withdraw up to $25,000 from your RRSPs to put towards a down payment by going to the Canada Revenue Agency website at www. cra.gc.ca.