07/11/2026
.
๐จ ๐๐ก๐ $๐๐,๐๐๐ ๐๐๐ฑ ๐๐๐ฏ๐๐ง๐ญ๐๐ ๐ ๐๐จ๐ฌ๐ญ ๐
๐ข๐ซ๐ฌ๐ญ-๐๐ข๐ฆ๐ ๐๐จ๐ฆ๐ ๐๐ฎ๐ฒ๐๐ซ๐ฌ ๐๐ซ๐ ๐๐ญ๐ข๐ฅ๐ฅ ๐๐ข๐ฌ๐ฌ๐ข๐ง๐
If you donโt own a home yet, this could be one of the smartest financial moves you make.
The First Home Savings Account (FHSA) combines the best features of an RRSP and a TFSA:
โ๏ธ Tax-deductible contributions๏ฟฝโ๏ธ Tax-free investment growth๏ฟฝโ๏ธ Tax-free withdrawals when used to buy your first qualifying home
Hereโs what many Canadians donโt realize:
Your FHSA contribution room doesnโt start until you open your first account.
That means waiting could cost you valuable tax-saving opportunities. Even if youโre not planning to buy for a few years, opening an FHSA now starts building your contribution room for the future.
You can contribute up to $8,000 per year, with a $40,000 lifetime limit, and depending on your income, your contributions could generate a meaningful tax refund that many buyers use to boost their down payment.
As a Greater Vancouver Realtor, Iโve met too many first-time buyers who wish theyโd opened an FHSA sooner.
Sometimes, buying your first home starts long before you begin looking at homes.
๐ฌ Thinking about buying your first home? Send me a DM and letโs build a strategy that puts you in the strongest financial position possible.
Save this post and share it with someone whoโs planning to buy their first home.
Letโs Talk:
Liza Marie Moyo Real Estate
โYour Trusted Vancouver Realtorโ
๐ง[email protected]
๐ฑ 778-228-7918
๐ป www.trustedrealtorvancouver.com
Disclaimer: This content is for general informational purposes only and should not be considered tax, legal, or financial advice. I am a licensed real estate professional, not a tax advisor, accountant, or lawyer. Please consult a qualified tax, legal, or financial professional regarding your specific circumstances before making any decisions.