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I recommend to start early. As soon as you start working and able to contribute 
to your Registered Retirement Savings Plans (RRSPs), you can set aside a portion of your disposable income monthly to save for the down payment.
Did you know that you can use your RRSP for down payment if you are a first-time homebuyer? This is called the Home Buyers’ Plan (HBP) and it is a program that allows you to withdraw funds of up to $35,000 tax-free from your RRSPs to buy or build a qualifying home for yourself or for a related person with a disability. You just pay back the withdrawn funds within a 15-year period.
Once you have decided that you want to buy your dream home, allow yourself abundant time to plan, 
research and talk to your trusted realtor and financial institution if you are applying for a mortgage, I would say 6 months to a year. The mortgage application process may take a few days to weeks depending on the complexity of your application. You have to factor in the financial institution’s processing time, the appraisal, inspection, notary or lawyer processing time among other things.
My experience as a financial planner and lender sets me apart from the rest so contact me today to discuss and develop a plan to make that dream of owning a home a reality!
