Thinking about stepping into the Canadian real estate market? It is not difficult to buy home in Canada because the country opts an open policy even towards the expats. Though the housing market of Canada is strong but it is varied as well. It means there are price fluctuations in the different regions of the country. For example, it is expected that property prices will fall up to 17% in the areas around the British Columbia whereas in the Toronto and Vancouver are showing a significant increase in the prices.
But it is a vast country attracting millions of travellers every year. Due to the majestic wonders and friendly policy of Canada attract the travellers and they would like to buy their second home there in Canada as a destination retreat. Are you looking to buy a house in Canada? Here is the complete guide that where do you start when buying a house in Canada.
Choose Area and Type of Home
- Location: First and foremost, a foreign owner must choose the location or area where they would likely to live. It is significant to keep in mind the weather conditions because weather is highly variable. Usually, the winters are long and cold. Be sure to change the location according to the weather you are comfortable with.
- Type Of Property: Choosing the type of property or home is the most important decision. From detached homes to condominiums, there are multiple options available within these categories.
Condominiums are the attachable townhouses which are popular because of their luxury living and amenities offer to the owners. That’s why even the Canadian millennials prefer condos over the houses. Though the prices are very high in Toronto and surrounding areas but the other cities like Saskatoon, Montreal, Winnipeg and Ottawa are great choices. Saskatoon condos and Saskatchewan condos are the offering quality living at an affordable price.
Create Your Budget And Make A Checklist
Figuring out budget effectively will help in planning further and narrowing the search that how much mortgage, house price and taxes you can afford easily. Make a checklist and investigate the down payment before starting the house hunting. All these things will help you in choosing the best property matching your lifestyle, budget and criteria.
Start House Hunting
Once you’ve selected the location, type of home and finalized the budget, then the next important step to searching properties in the area you’re intended to buy home. Browse the interest and search the newspaper because properties are also advertised both online and in the newspapers. Check the real estate websites and the official websites of condominiums. Additionally, Facebook pages and groups also post property selling and buying ads. Browse and view the websites of different condominiums websites and ask about their prices and all important details. Check the real estate sections of the local papers to get the idea of available properties.