The Money Mustache Community

Learning, Sharing, and Teaching => Investor Alley => Topic started by: Josey_L on December 12, 2017, 05:19:17 PM

Title: Where to Invest Net Proceeds of Home Sale - Moving to Canada
Post by: Josey_L on December 12, 2017, 05:19:17 PM
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!
Title: Re: Where to Invest Net Proceeds of Home Sale - Moving to Canada
Post by: Meowmalade on December 12, 2017, 05:28:21 PM
I'm in the process of moving/converting money from Canada to the U.S.  I just started the process of setting up an account (they want a notarized form to prove I'm who I say I am), but from my research, Knightsbridge FX is the cheapest way to do the conversion and we'll save thousands!