10/15/2026
🏡 Separation or Divorce? You May Still Qualify for the Home Buyers’ Plan.
Did you know that a relationship breakdown may allow you to access the Home Buyers’ Plan (HBP), even if you’ve previously owned a home?
While the HBP is generally associated with first-time homebuyers, the Canada Revenue Agency provides an exception for eligible individuals experiencing a marriage or common-law partnership breakdown.
What does this mean?
Eligible individuals may be able to withdraw up to $60,000 from their RRSP to help purchase a qualifying home, without immediate tax consequences.
Certain conditions apply, including separation requirements, previous HBP participation, homeownership circumstances and repayment obligations.
For those navigating separation or divorce, understanding the financial options available can be an important part of planning for the next chapter.
A change in circumstances often calls for a fresh look at your financial plan.
For more information, visit the Canada Revenue Agency’s Home Buyers’ Plan eligibility guidelines.