RRSP loan for the purchase of your first property

[Stevie Mayer]

Hi everyone! I'm wondering your thoughts on taking out an RRSP loan for the purchase of my first property. I currently do not have enough saved for the down payment on the house I want, a multi family dwelling. I'm wondering if it's worth it to get into my first investment sooner then later. If I can get a loan for 25,000 and put it in my rrsp before taxes come I will get 40% back to put on the loan, ultimately only having to pay back 15,000 on the loan. I'm just wanting advice on if you think it's worth it, or someone who has done it- your experience. I always hear people say "do what you have to do to just get into that first property" but not sure if this is a beneficial way of doing it. If I dont take out a loan, it will take me around 6-8 months to save for the payment! Thoughts please

Thanks!