What do I need to know when buying property in Canada?
When we asked expats what advice they would give a foreigner before buying a property in Canada, they said...
"1. Be sure to get pre-approved for a mortgage before you start looking for properties. 2. Research different areas to make sure the neighbourhood is a good fit for you. 3. Think about the potential resale value of a property before making your final decision. 4. Budget for closing costs in addition to the purchase price of the property. 5. Consider hiring a lawyer or a notary to review any documents before signing them. 6. Ensure you are aware of any extra fees or charges that could be applied. 7. Be aware of the local taxes for the property. 8. Take the time to inspect the interior and exterior of a property before signing any documents. 9. Familiarize yourself with provincial and federal regulations regarding the purchase of property. 10. Double check the title of the property to make sure there are no liens or encumbrances," said another expat in Canada.
Other Questions:
- What do I need to know before moving to Canada?
- How do I find a place to live in Canada?
- What is a typical expat home or apartment like in Canada?
- What is the average cost of housing in Canada?
- Should I buy or rent a home in Canada?
- What should I pack when moving to Canada?
- What cultural faux pas should I try to avoid making in Canada?
- Why do people move to Canada?
- What are healthcare services like in Canada?
- What are medical services in Canada like?
- What are typical rents in Canada?
- What appliances are typically included in a rental?
What do I need to know when buying property in Canada?
If you live in Canada, newcomers to Canada would love to hear your answer to this question:
About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
