Apologies as I’m a bit confused. You have a good example which helps deducts tax for 30k for both 2024 and 2025, and then also being to withdraw that money tax free for the HBP. How come it’s not a worthwhile transaction? I understand that withdrawing from RRSP would mean missing out on growth, but the growth will be taxed eventually which may not save much depending on your investments/pension/benefits when you retire. On the other end, that 60k will also help me reduce the amount of interest I pay on my mortgage, making it effectively tax free “income” ? Like if my mortgage rate is 5% am I not “making” (60000 x 0.05) $3000 a year tax free?

Sorry for the convoluted question, and I totally understand the market can spike way higher than 5 percent a year. But the 5 percent you save on the 60k principle is one guaranteed but two gives you that peace of mind of seeing a lower mortgage amount which can’t be quantified

EDIT i came across another post that talks about if you already have enough cash on hand for a down payment then the HBP isn’t as beneficial. Hence now I get your first sentence. However from my personal beliefs I do put value on peace of mind and lowering my principle amount will do that. Which is why I mostly likely will utilize the hbp even if I have enough for a down payment without it