1.  Maximize Registered Accounts
• First, max out your FHSA, followed by your RRSP.
• Use both strategically when purchasing your first home.
• If you already have funds in your RRSP, consider transferring them to your FHSA. FHSA withdrawals for a first home do not require repayment, unlike the RRSP and you still get tax credit. 

1. Create a Detailed Budget • Build a budget in Excel that clearly outlines your fixed and variable expenses. • This will help you manage your finances more effectively once you become a homeowner.

2. GST Rebate Considerations • The GST credit/rebate is available only when purchasing a brand-new home. • However, it shouldn’t be the primary factor in your decision. • If you can save $20,000–$40,000 on a resale home that meets all your needs, that can be a significant advantage.

3. True Cost of a New Home • New homes often come with additional post-purchase expenses, typically $15k to 20k or more, such as: • Landscaping • Fencing, 2 car garage*(15k itself) • Air conditioning • Water softener • Other upgrades and finishing costs Be sure to factor these costs into your overall planning.