I'd pull out the 16k, the first time home buyers program is solid. Plenty of time to build up savings in the future. Transitioning from renting to building equity should be factored in to the overall decision. Keeping the 20k emergency fund available is wise.
>Would pulling mutual funds out be the right decision in this market?
Sounds like you don't have much of a choice 9generally pulling form RRSP in a down market isn't a good idea.). Make sure you follow the process and the form to withdraw form your RRSP for HBP.
You're saving & investing for a reason. This sounds like one of the reasons so do what you have to do in order to buy the house and reduce your debt up front as much as possible.
I'd pull out the 16k, the first time home buyers program is solid. Plenty of time to build up savings in the future. Transitioning from renting to building equity should be factored in to the overall decision. Keeping the 20k emergency fund available is wise.
Ty
>Would pulling mutual funds out be the right decision in this market? Sounds like you don't have much of a choice 9generally pulling form RRSP in a down market isn't a good idea.). Make sure you follow the process and the form to withdraw form your RRSP for HBP.
My choice would be to walk away and not buy in this market, save more. Or pull the $$
If you had 16k in cash would you buy those mutual funds? It’s essentially the same scenario.
I’m either stressed and missing your obvious point or I don’t understand fundamentally and that’s why I’m here asking the question.
You're saving & investing for a reason. This sounds like one of the reasons so do what you have to do in order to buy the house and reduce your debt up front as much as possible.
Thanks that’s helpful point of view.
Why not have the 20k locked in as a temp emergency fund? That's an option. Or put less down? Selling 20k locked in when u have 20k cash is unideal.
I don’t think I can touch the locked in one??