Acronym Monday: FTHB
Fall really is a beautiful time in Calgary. And, it's also another great time for an acronym: FTHB
First-Time Home Buyer
This is an individual who purchases a principal residence for the very first time. My friend and real estate professional, Colin Ongyerth of Remax Real Estate (Mountain View), mentioned there were many incentives for first-time homebuyers. This includes the First-Time Home Buyer Incentive Plan, where the government offers 5 or 10% of the home’s purchase price to put toward a down payment, or The Home Buyers’ Plan, which allows FTHBs to withdraw up to $35,000 from their RRSPs on a tax-deferred basis to use towards their purchase.
Maybe this is the year I get out of my parent's basement. Thanks, Colin!