Burnaby · British Columbia
FHSA strategy for first home in Burnaby
Educational consultations for newcomers in Burnaby. Licensed Dealing Representative, NRD #4575551.
Burnaby context
Population
260K (city)
Median household income
$88,000
Province
British Columbia
Why this matters here
- Vancouver suburb with better affordability (~20% cheaper).
- Tech hub: Microsoft and SAP campuses.
FHSA strategy for first home
$40K lifetime tax-free for first home. How to combine with RRSP HBP and TFSA.
What's specific in Burnaby
In Burnaby FHSA is critical because of high Vancouver-area prices. Average condo $700-900K, townhouse $1.1M+. FHSA $40K solo + RRSP HBP $60K = $100K — that's only 11-14% down payment on an $800K condo (so you need another $50-60K in savings to clear the 20% threshold and avoid CMHC). Burnaby couple strategy: both max FHSA + RRSP HBP = $200K total → 25% down on $800K condo or 20% on $1M townhouse. BC has a land transfer tax (1% on first $200K, 2% on remainder up to $2M), adding $14-20K to closing — plan FHSA for this extra cost.
Same service in other cities
Other services in Burnaby
FAQ
- Are you physically in Burnaby?
- In-person in Calgary (Axcess Capital Advisors Inc. head office). For clients in Burnaby — Zoom/Google Meet. Same outcome, no commute.
- FHSA strategy for first home in Burnaby — is this legal?
- Yes. I'm registered as a Dealing Representative in Alberta, BC, and Ontario. British Columbia is covered. NRD #4575551 is public.
- What does the first consultation cost?
- Free. 30-minute discovery call, no obligation. Per CSA rules, I don't recommend specific products before a formal KYC + Suitability Assessment.
- Can we do it in Ukrainian or Russian?
- Yes. I run calls in Ukrainian, Russian, or English — whichever works. Documents (OM, Suitability) are in English per regulation, but I walk through them in detail.
- Can I combine FHSA + RRSP HBP for a first home?
- Yes — it's the strongest combo for newcomers. FHSA gives you up to $40K tax-free for a first home ($8K/year × 5 years). RRSP Home Buyers' Plan lets you borrow $60K from your own RRSP (must repay over 15 years, no tax). A couple × 2 = $200K with zero tax. In Calgary and Edmonton that's enough for a 20-30% down payment with no CMHC premium on a typical home.
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FHSA strategy for first home
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FHSA strategy for first home
Ready to figure out your situation?
30 minutes · free · Zoom or Google Meet. No selling on the call — just walking through your numbers.
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