General information only — not financial advice for your situation.
This is a learning tool. Always check CRA My Account records and talk to a qualified professional for your own numbers.
Plain English
A property that's eligible for programs like the FHSA or Home Buyers' Plan — basically a home in Canada that you plan to live in.
Technical definition
A qualifying home is a housing unit located in Canada that the individual intends to occupy as their principal place of residence within one year of acquisition. It includes detached homes, semi-detached, townhouses, condos, mobile homes, and shares in a co-operative housing corporation. The property must meet eligibility criteria for FHSA withdrawals or HBP use.
Examples
- • You buy a condo in Toronto for $500,000 and plan to move in within a year — it qualifies for an FHSA withdrawal and HBP.
- • An investment rental property you don't intend to live in does not qualify for the HBP or FHSA.
Keep exploring
About this site
Every number on this site is sourced from CRA publications, the Income Tax Act, or provincial fiscal releases. We show the math, cite the sources, and never tell you what to do with your money.