Quote:
Originally Posted by blankall
A lot of people who are already in the market will have that equity built up. Additionally, many dual income couples who are 35 or so should be able to save that much. You can each take out $35k from your RRSPs.
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Are you talking about the Home Buyers Plan (withdrawing from RRSP for a down payment)? It is typically reserved for first time home buyers. In the situation that you describe, you would already have bought a house to have previous equity and therefore probably wouldn’t qualify. Also, you would have to pay back that $70,000 to your RRSP within 15 years so you’d need to factor that in.