So if I understand this correctly, one pays extra on their rent in order to have a portion set aside in a non-interest bearing account so that you may chose to apply it towards a down payment at some future point. Wouldn't one be far better of to put that money into an RRSP, get the tax deduction, get the increase in value over time and then use the first time homeowners program to withdraw the down payment tax free?
yes if that 25% directly translated into a premium. but it doesn't.
Edited by Victoria Watcher, 02 April 2019 - 08:12 AM.