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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!


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