Homeownership is a dream that many Canadians aspire to, but with rising home prices — especially in places like Ontario or Vancouver, BC — achieving that dream is becoming more difficult.

That’s where the First Home Savings Account comes in. It’s a new savings plan introduced to help first-time Canadian homebuyers land their first home. In this episode, Jamie Golombek gives us an overview of the FHSA and how it can be used to its fullest potential. We also review some scenarios where the FHSA is — or isn't! — applicable.

The new First Home Savings Account (FHSA) is coming to CIBC this November. Connect with your advisor or visit cibc.com/FHSA to sign up for updates

Resources

• Listen to the previous episode with Benjamin Tal, Rent versus Buy!
• CIBC Smart Advice
• Look up Jamie Golombek’s website for tax advice!