Do I have to close my FHSA within a certain time if I don't buy a home?

Yes. The Income Tax Act sets a maximum participation period for an FHSA, meaning the account cannot stay open indefinitely if you never end up making a qualifying home purchase - at some point it has to be wound up, whether that means transferring the funds out or withdrawing them. The exact length of that maximum period is worth confirming directly, since it's a defined figure set by the Act rather than something open-ended.

The good news is that reaching this deadline without buying a home isn't a financial trap the way it might sound. The FHSA has a built-in safety valve for exactly this situation, covered in more detail in a related question, that lets the funds move to an RRSP or RRIF on a tax-free basis instead of simply being taxed as income. So while you can't leave an FHSA open forever "just in case," you also don't lose the tax benefit of what you contributed if your home-buying plans change or take longer than expected. Keeping track of when your account was opened, and what the current maximum period is, is a simple step worth taking so the deadline doesn't catch you by surprise.