Author Topic: Selling in US - Moving to Canada - Where to put net proceeds?  (Read 470 times)

Josey_L

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Selling in US - Moving to Canada - Where to put net proceeds?
« on: December 12, 2017, 10:30:48 AM »
We our selling our house in the U.S. and moving to Waterloo, Ontario in March of 2018. We expect to have about $300,000 in net proceeds from the sale and will rent in Waterloo for at least a year, likely two, before purchasing a new home. Our plan is to stay in Waterloo long term, but there is always a possibility that we will return to the US after a couple of years if things aren't working out as planned.

We have a Vanguard account and checking accounts in the US and will open investment and checking accounts in Canada as well. If the most likely outcome is purchasing a home in Waterloo, my initial thought is to wire the proceeds to a Canadian account and invest them in Bond ETFs. That way we have the money in a low risk investment in the currency (CAD) in which we are likely to make a large purchase in ~2 years. My question is: where would you deposit the net proceeds?

Thanks for the help, and bonus points if you have experience with US/Canadian banking and investing and can help us figure out the cheapest way to transfer the money from the US to Canada!