Why Canadian Real Estate is a Bargain for Foreign Buyers !
Non-Resident Info No matter where you go, Realtors in Canada agree on three things: property here is beautiful, and best of all, incredibly affordable when compared to other parts of the world. Compare property values in places like England, Ireland, Germany and the U.S. ( especially California and the East Coast) and buyers here always get more for their dollar than they would at home. At the present time, the American dollar is very strong in Canada. One US dollar = approx. $1.15 Cdn., so a $115,000 Cdn$. property would cost a US citizen approx. $100,000.00 US. Couple that with the fact that property is less expensive overall, and it’s obvious that out of country buyers are in an enviable buying position. The other thing that makes us so attractive is crowding is never an issue in Canada – we have only 30 million people living on 38 million square miles of land!
Buying Property In Canada - The Rules And Regulations! The bottom line is that buying property in Canada is very easy. From a bureaucratic standpoint, as long as you don’t plan to become a landed immigrant, buying land is probably easier than it would be at home. It takes much less time to complete the sale on a property as we do not have an escrow period on purchases. From a residency point of view, if you plan to stay in Canada for 6 months or less each year, the government considers you a tourist or non-resident. That means you can do just about anything – open a bank account, buy land or a car etc.
American's who purchase property can come to Canada for a total of 6 months. These visits can be cumulative - 2 weeks here, 4 weeks there etc. You do not have to come for a consecutive 6 month period. This means that you can own a second home in Canada and visit it as you wish. If you plan to live in Canada for more than 6 months annually, you have to apply for immigrant status.
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