Nearly 1 in 5 Canadians would pause retirement savings to buy a home — but the FHSA and HBP offer a better path

Nearly 20% of Canadians would delay retirement savings to afford a home, though this can harm long-term growth and increase taxes. First-time buyers can use two federal programs: the FHSA, allowing tax-deductible contributions up to $40,000, and the HBP, permitting tax-free RRSP withdrawals up to $60,000 repayable over 15 years. Buyers should prioritize FHSA contributions, maintain employer RRSP matches, and consider market conditions before pausing retirement savings.