Buying your 1st home: The Advantage of First Home Savings Account (FHSA) (CELIAPP)

08 Nov 2025

Introduction

Buying your first home is a pivotal step in your life. However, this process can sometimes seem complicated. Thanks to the Tax-Free Savings Account for the purchase of a first property (FHSA), you have a valuable tool to facilitate your project. Let's explore together the benefits of the FHSA and the importance of being supported by a financial security advisor.

The advantages of the FHSA

The FHSA is designed to help you save optimally toward your first purchase. Here are the main advantages:

Access to substantial funds : You can contribute up to a maximum of $40,000, which is a significant help in making your first purchase. Your rights to participate in a FHSA during the first year of opening are $8,000.
Tax savings : Contributions made to your FHSA are tax-deductible, thus reducing your tax burden.
Easy withdrawals : Funds can be withdrawn penalty-free to finance the purchase of your first home, making the process smoother.

The importance of a financial security advisor

Starting a real estate purchase project can raise many questions. That is why the support of a financial security advisor is essential :

Expertise : An advisor offers guidance tailored to your situation to optimize the use of your CLIAPP. They know the products well and will be able to explain the details of the products offered.
Personalized strategies : Your financial situation is unique. An advisor will help you determine the steps that match your specific needs.
Support throughout the process : With their experience, they will guide you at every step of your path toward the purchase, providing the necessary assurance.

Conclusion

The FHSA represents a major asset for those who wish to acquire their first home. This opportunity to save and the support of a financial security advisor will allow you to start your journey with confidence.

Don't hesitate to contact me; I would be happy to help you with one of my partners if you need help starting your first purchase project. Together, we will build a solid and serene financial future.

The information in this article is for general purposes only and may not reflect current laws or regulations. Verify any details with a qualified professional before making decisions. Some portions may have been created with AI assistance and should be confirmed for accuracy.

Written by Karine Déry

Mortage broker