# HBSP:Am I a first time home buyer?



## hbp101 (Aug 14, 2011)

In Oct 2006 I separated from my common law partner of 10 years. We jointly owned a home at the time. I lived with a friend for a month, and then rented an apartment starting Dec 1, 2006. In May 2007, my common law partner purchased my half of the home. I have legal papers that state the date of separation, and the date he purchased my half of the home. I have rental papers that show the date when I rented the apartment. 

According to Revenue Canada, "you are not considered a first-time home buyer if you or your spouse or common-law partner owned a home that you occupied as your principal place of residence during the period beginning January 1 of the fourth year before the year of withdrawal and ending 31 days before your withdrawal."

So does this mean, that since I was not occupying the home that I jointly owned on January 1, 2007, that I can be considered a first time home buyer in 2011? 

I am about to buy a house with a man that I began seeing in May 2007 and married in May 2008. He is a first time home buyer, having not lived in a home that he owned for 8 years. Does any of this affect whether or not I am considered a first time home buyer in 2011?

Thank you in advance for any thoughts anyone may have.


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## m3s (Apr 3, 2010)

hbp101 said:


> So does this mean, that since I was not occupying the home that I jointly owned on January 1, 2007, that I can be considered a first time home buyer in 2011?
> 
> Thank you in advance for any thoughts anyone may have.


I agree with you that you should be considered a "first time buyer" if that home you owned wasn't your "primary residence" on Jan 1 2007, but I would call the CRA to confirm because the wording is open to interpretation imo

Did you use HBP the first time? You need to have that paid off. If you have investments earning more than 3% I wouldn't even bother, unless you need the HBP to avoid CMHC insurance. Mortgage rates are very low


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## hbp101 (Aug 14, 2011)

*Revenue Canada verified my eligibility*

Thank you for your helpful reply, Mode3sour. I phoned Revenue Canada, and they said that I am indeed eligible for the home buyers plan as I was not residing in the home on Jan 1, 2007. And I do have some RRSP money in daily savings that is earning low interest, so I'll be pleased to move it out.


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