The Home Buyers' Plan (HBP) is a program in Canada that allows first-time home buyers to withdraw up to $35,000 from their registered retirement savings plans (RRSPs) to purchase or build a home. This withdrawal is tax-free, making it an attractive option for those looking to enter the housing market. The funds must be repaid to the RRSP within 15 years to avoid tax penalties. To qualify for the HBP, individuals must be considered first-time home buyers, meaning they have not owned a home in the last four years. The home must be located in Canada and used as the buyer's principal residence. This program aims to make home ownership more accessible for Canadians.