This morning I received the latest electronic bulletin from the Montreal Real Estate Board, and I was pleased to read about one more addition to the First Time Buyers Program, a new take on the RRSP maximum withdrawing amount as well as the possibility to have all RRSP holders (not just first time buyers) to invest in Real Estate. Here is a copy of the bulletin, that explains what the Quality of Life Program has to offer:
The Québec Federation of Real Estate Boards, through its Quality of Life program, is making access to home ownership a top priority in its government relations initiatives. Representatives of the Federation’s Government Relations Committee made a concerted effort to have the ceiling lifted on the maximum amount of money that can be withdrawn under the Home Buyers’ Plan (HBP). The maximum that can be withdrawn is now $25,000 for each RRSP-holder, so couples can now withdraw a combined total of $50,000 to buy their first home.
By the fall of 2009, the Federation will lobby the federal government for a new commitment – that of opening the Home Buyers’ Plan to all RRSP-holders. This would make the HBP available to first-time buyers, and to all people who want to use their RRSP to invest in real estate. Hopefully, the Government of Canada’s Department of Finance will grant the Federation’s request during its next economic update.
Finally, the Federation is preparing a position paper on home ownership that will aim to have all three levels of government implement measures that help first-time buyers. For example, the Federation would like the Canada Mortgage and Housing Corporation to use its surplus in order to establish a program that helps first-time buyers build up their initial down payment.
Helping first-time buyers purchase their first home not only benefits the economy – it also improves the quality of life of these people, and the quality of life of communities across the province. It is within this framework that the Federation will guide its political actions in order to help first-time buyers realize their dream.
About the Quality of Life Program
The goal of the Federation’s Quality of Life Program is to demonstrate the real estate industry’s commitment to improving the quality of life of communities across the province. The Program is based on five main principles that shape the political and public directions that a real estate organization should develop.
These principles are:
1. Ensuring Continuous Economic Development
2. Providing Opportunities for Suitable Housing
3. Preserving our Environment
4. Improving the Living Conditions of Québec Residents
5. Building Better CommunitiesImproving Life in Québec: The Federation’s First Quality of Life Summit
The Federation will be holding its first Québec Quality of Life Summit on November 25, in Montréal. The Quality of Life Summit is founded on the Quality of Life Program, which is shared by many Canadian and American real estate boards. Several conferences will be presented as part of the Summit, including one by Jean Lemire, biologist, award-winning filmmaker and mission leader aboard the Sedna IV. Recognized industry experts will also be participating in a panel discussion on home ownership. Additional Summit and registration details will be sent shortly.
Posted by: Deya Bautista - Real Estate Broker working as part of the McGill Immobilier team. Specializing in high end condos in downtown and Old Montreal. For buying or selling contact Deya at: 514.917.7889 
I think it is great if you can get into a house. It is a great investment.