Life Event
Saving For A Home
Buying a home is one of the most significant financial decisions you’ll ever make. At Atlantic Wealth Management, we understand the complexities of homeownership and offer tailored services to help you save for and purchase your dream home. Our comprehensive approach ensures that you have the financial support and guidance you need every step of the way.
FHSA
The First Home Savings Account (FHSA) is a tax-advantaged account designed to help Canadians save for their first home. Contributions are tax-deductible, and withdrawals, including investment income, are tax-free when used for qualifying home purchases.
TFSA
A Tax-Free Savings Account (TFSA) allows Canadians to save and invest money tax-free. Contributions are not tax-deductible, but all withdrawals, including investment gains, are completely tax-free, providing a flexible way to save for a home or other goals.
Homebuyers Plan (RRSP)
The Home Buyers’ Plan (HBP) lets first-time homebuyers withdraw up to $35,000 from their RRSPs tax-free to buy or build a qualifying home. Withdrawn amounts must be repaid to the RRSP within 15 years to avoid tax penalties.
Investment Strategies For Home Savings
Effective investment strategies can accelerate your savings for a home. We offer tailored investment options that align with your risk tolerance and financial objectives, ensuring your money grows while you prepare for this major purchase.
Budgeting & Expense Management
Budgeting is crucial when saving for a home. We provide tools and advice to help you manage your expenses, identify areas where you can save, and create a budget that supports your homeownership goals without sacrificing your current lifestyle.
Tax Planning & Benefits
Understanding the tax implications of homeownership is essential. Our tax planning services help you navigate tax benefits and deductions related to buying and owning a home, maximizing your savings and ensuring you take full advantage of available opportunities.
Insurance & Protection
Protecting your investment is vital. We offer comprehensive insurance solutions to safeguard your home and financial future. From mortgage protection to home insurance, we ensure you have the coverage you need to secure your investment.