Attention readers from the U.S. (and other internationals) considering buying property in Canada
Every couple of years there is a lot of talk from people in the U.S. about moving to Canada as an escape from something unsavoury that is going on in their country. For most of them, it is just talk. For others, it’s serious. But it seems to get overlooked in these conversations that Canada is a sovereign nation and there are regulations and a process that must be followed in order to gain entry.
Buying a home here is not the same as being permitted to live in it long term. There is an immigration process for that end of things which I recommend speaking to a Lawyer about in order to navigate gracefully. There is a second post in this series that was written by an immigration Lawyer from Vancouver if you need a starting point. Regardless of whether you are from Canada, the U.S. or somewhere much further away, the home buying process that I will guide you through is basically the same. On the financing end of things it sometimes gets more convoluted due to various regulations and practices with moving large amounts of money internationally but talk to me a little and I should be able to send you in the direction of the right Mortgage Broker if you haven’t found one already. International deals are something that I am quite accustomed to and in most cases I will have various kinds of contacts that are the right fit for you.
Have a look around this blog and at my website for a good idea as to what is here and what the market is doing right now. It’s always evolving.
There are various reasons for people to want to buy property in Canada. Sometimes it’s because they want to move to Canada, sometimes they want a vacation home and sometimes they want to buy a place for investment. But the same thing seems to daunt all of them. Buying or selling property feels like a big process if you’re not used to doing it already, but there’s a lot more to think about when buying outside of your country. Getting the mortgage, how taxes will work for you, what kinds of laws are in place and so on. It doesn’t have to be such a challenge. As a Realtor, I am one part of the team of professionals you will need to bounce questions off of but I know enough things and professionals to guide you in the right direction. As someone who has lived and travelled all over Canada, the US and other countries, I know from experience that it can be a godsend at times to have someone break it all down for you when you’re trying to do something like this in another country. In other words, I know it seems daunting, but with a little communication and homework we can get it done. Like most things, the hardest part is making yourself get started.