If your goal is to buy a home, then the FHSA is likely the best account for parking your down payment. Article content That said, the HBP is still useful since many people will naturally start saving for their
First Home Savings Account (FHSA) Introduced in 2023, theFHSAis a tax-advantaged account that enables first time home buyers to save for a down payment. Like the RRSP, contributions and interest/investment earnings are deferred until you withdraw the funds. There are contribution limits and time...