What is a qualifying home?
A qualifying home is a housing unit located in Canada. This includes existing homes and those being constructed.
Single-family, semi-detached, townhouses, mobile homes, condominium units, and apartments in duplexes, triplexes, fourplexes, or apartment buildings all qualify.
A share in a co-operative housing corporation also qualifies if it entitles you to possession and gives you an equity interest in a housing unit located in Canada.
FHSA rules and eligibility requirements
Where available, you can open an FHSA so long as:
- you’re a Canadian resident,
- you’re at least 18 years* of age or older,
- you’re under the age of 71, and
in the current calendar year or in the previous four calendar years, you or your spouse or common-law partner haven’t lived in a home that either of you have owned at any time.
