Can I use RRSP to Buy a rental property?
Hi Folks!
Can I use my RRSP as a FTHB to buy a property and rent it out?
Thanks
Can I use my RRSP as a FTHB to buy a property and rent it out?
Thanks
- Last Updated:
- Jan 23rd, 2021 11:54 am
Tags:
- SCORE
- MilanoTo [OP]
- Newbie
- Jan 18, 2021
- 2 posts
- 1 upvote
2 replies
- ysl5710
- Deal Addict
- Apr 4, 2017
- 1376 posts
- 377 upvotes
- Toronto
Good question I have like 50k in rrsp and wish I had money with me.
- senasena
- Deal Addict
- Feb 19, 2019
- 1031 posts
- 1387 upvotes
- Stouffville ON
Here is one of the requirements as per cra.
You must intend to occupy the qualifying home as your principal place of residence within one year after buying or building it. If you buy or build a qualifying home for a related person with a disability, or help a related person with a disability to buy or build a qualifying home, you must intend that that person occupies the qualifying home as his or her principal place of residence
You must intend to occupy the qualifying home as your principal place of residence within one year after buying or building it. If you buy or build a qualifying home for a related person with a disability, or help a related person with a disability to buy or build a qualifying home, you must intend that that person occupies the qualifying home as his or her principal place of residence
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