Author Topic: Buying Property In Canada  (Read 1380 times)

HairyUpperLip

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Buying Property In Canada
« on: March 28, 2014, 02:21:27 PM »
Hello

Canadian born, current USA citizen/resident here...

are we eligible to purchase property in Canada?

anyone know the criteria?

thanks!

HairyUpperLip

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Re: Buying Property In Canada
« Reply #1 on: March 28, 2014, 02:21:58 PM »
Looking to finance the property for a rental/investment. should have said that in the first post. sorry.

Gerard

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Re: Buying Property In Canada
« Reply #2 on: March 28, 2014, 03:20:33 PM »
As far as I know, pretty well anyone can buy property in Canada. Some of our more xenophobic citizens blame our current high big-city prices on non-residents buying so much property for speculation, rental, or escape-hatch reasons.

There may, however, be tax consequences to living in the US and making money off a Canadian rental. I have nothing useful to contribute to that conversation.

nereo

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Re: Buying Property In Canada
« Reply #3 on: March 28, 2014, 07:48:18 PM »
I'm a US citizen and I've purchased a home in Canada, where I now live. 
Overall it's pretty much like buying a house in the US.
The biggest hurdle I had to overcome was that my credit score in the US simply did not count in Canada.  My entire credit history, my 10+ years of never having missed a payment, it all counted for squat.

few other subtle differences, but nothing major.
any specific questions about the process?

livraison

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Re: Buying Property In Canada
« Reply #4 on: March 29, 2014, 12:53:46 AM »
This seems like a pretty comprehensive overview:

http://www.cbc.ca/news/canada/real-estate-rules-don-t-discriminate-against-foreigners-1.1216517

With the usual warnings to double-check for accuracy anything a journalist might say.