Experts Questions and Answers

First of all thank-you for your question. As of  Jan 27th of 2009 the new maximum you can withdraw from your RRSP is $25,000. Certain conditions must be met to qualify, but generally speaking to participate in the Home Buyers Plan you must either be a first time home owner, or if you have previously owned a home it must have been approximately 5 years prior to the purchase of your new home. Keep in mind if you have a spouse and they qualify that they can also withdraw up to the maximum. I hope this has helped you. If you need more indepth information to see if you qualify feel free to give me a call. Best regards,  Val