About to buy my first condo but need savings tips (located in Quebec Canada)

Hello,

I’m wondering whether it’s worth investing in the FTQ fund. I’m not very knowledgeable when it comes to investments, but I want to make the most effective use possible of the tools available to me. I’m still young, but in less than a year I’ll be buying my first condo.

I currently have a CELIAPP (FHSA) with $13,500 in it, and I plan to increase it to $16,000 before the end of the year in order to receive the full available tax credits. Then, after January 1st, I plan to contribute again until it reaches $24,000 before purchasing my condo.

However, I don’t want the money I’ll be saving to max out my CELIAPP (FHSA) at the beginning of 2027 to just sit there without generating returns. So I essentially have about six and a half months to invest efficiently.

At my workplace, we’ll soon have the option to invest in the FTQ fund beginning the 11th of june, and I was wondering whether that could be a good idea considering I would have 15 pay periods left before January 1st and could contribute up to $400 per paycheque to the fund (for a total of $6,000 by the end of the year). I could receive up to a maximum of $1,500 in tax credits (30% of the investment, up to $1,500).

Would the current rate of return make it worthwhile?

Do you know of any other savings or investment options that would make more sense over the next six months?

Do you have any other tips for first-time home buyers that I could take advantage of before purchasing my condo?