FHSA vs RRSP Home Buyers’ Plan 2026: Full Guide
Canada FHSA vs RRSP Home Buyers’ Plan in 2026: Which Is Better, and Can You Use Both? Canada | October 22, 2026 A couple in Canada wants to purchase its first home. One partner has been contributing to a First Home Savings Account. The other has accumulated savings in a Registered Retirement Savings Plan. They have heard that the FHSA provides a tax deduction and tax-free withdrawals. They also know that the Home Buyers’ Plan allows eligible people to withdraw money from an RRSP without immediate tax. But which program should they use? And can they combine the two? In 2026, eligible first-time home buyers can potentially access $40,000 of FHSA contributions and $60,000 through the RRSP Home Buyers’ Plan per person , assuming they have accumulated the necessary funds and meet the applicable withdrawal rules. For a qualifying couple, that can mean a combined $200,000 before considering investment growth. However, the two programs do not provide identical benefits. The FHSA generally comb...