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While the government has extended the First Home Loan Insurance program for five years, the Home Buyers' Plan, which has proven to be the more popular of the two, is scheduled to expire on March l, 1994. The plan enables home buyers to access their own RRSPs for downpayment "This survey by the Angus Reid Group Inc. demonstrates the importance of the plan to both housing markets and retirement planning." Richard Weima, President of The Oakville, Milton and District Real Estate Board, said. "It's good news for home buy- ers in this area." Results of an independent survey, just released, give powerful reasons for extend- ing the Home Buyers' Plan, says The Oakville, Milton and District Real Estate Board. Powerful reasons for extending Home Buyers' Plan 'Sales Representative "Associate Broker “'Brokcr Countrywide TOWN CENTRE REALTY INC. " YOUR SEARCH ts OVER l" F $4178,” Quertcthgt, +ZBdrm,I VALUE PLUS!!! FRESH DECOR DELIGHTFUI. r "l GOWEST--- 5133.000 $249,777 tl78,500 . The plan helped a significant number of home buyers surveyed - 24% in Toronto, 22% of all first-tinte buyers, 17% of buyers candidate in the current federal election campaign to support extension of the plan. Highlights of the survey are as follows: . Four out of every five buyers who used the Home Buyers' Plan (79%) said it was an important factor in their decision to buy when they did. It was especially important for 86% of first time buyers. . Nearly half, 49%, s been unlikely to buy the plan. generally. purposes. The Oakville, Milton and District Real Estate is joining with other member real estate boards of The Canadian Real Estate Association (CREA) in polling every NVESTMENT GEM $619,500 $219,900 $188,500 It said they would have Icir home without the WW POWER or SALE" $147,000 A HF. {38-6550 The survey, commissioned by the Canadian Association, was conducted among recent home buyers in five major metropolitan centres across Canada. The Department of Finance has reported that during the first year of the plan which ended March l, 153,452 participants used the plan. Raw data for the period March 2 to July 29, 1993 indicate a further 45,500 applications to use RRSP funds. Canada Mortgage and Housing Corporation (CMHC) information released . Home ownership was seen by 84% of those surveyed as being at least somewhat important to retirement planning - 54% said very important. I Owning a home was rated as by far the most important source of income for retire- ment. 1 war: KITCHEN r 2A0 North Service Road West Oakville Ontario L6M 2S2 338-6550 WHY PAY RENT??? In? $199300 $219.90) $132,000 " . ar .mJ September l, I993, credits individuals mak- ing withdrawals under the Home Buyers' Plan with 26% of housing transactions nationally in 1992. "Experts have called this the ideal gov- ernment program," said Weima. "lt recog- nizes the importance of a principal resi- dence in retirement; it eliminates having to choose between saving for a home and sav- ing for retirement; it underlines the impor- tance of the housing market to the economy and it's popular without draining the public purse. What we need now is an expression of political will to keep the Home Buyers' Plan as an ongoing instrument of housing finance." The Oakville, Milton and District Real Estate Board has 562 members and it ser- vices Oakville, Milton and Acton. Rxo'vetaeenko1exittxwAa"astNs, SUPER VALUE memo i2,,?/dltl $234900 Sl79,900 tn ip I)