Where to invest in Real Estate

[joy857]

Agreed, all similar cities like Woodstock, Brantford, St. Thomas are seeing a crazy uptick in prices

Quick question, can a person purchase a house in ON and lives in BC? Are there any additional taxes or loops they have to go over?

Thanks!

 

[gurpreet.ts]

Quick question, can a person purchase a house in ON and lives in BC? Are there any additional taxes or loops they have to go over?

Thanks!

I think it's doable, no concerns as such that I am aware of. Do you mean like buy a property as an investment?

 

[joy857]

I think it's doable, no concerns as such that I am aware of. Do you mean like buy a property as an investment?

Yes as an investment.

 

[cansha]

Coming to the forums after a long time. This was quite an enjoyable thread to read.

 

[aigerimuz]

Question: Can a Work Permit holder buy a rental property?

 

[Lazymon82]

Question: Can a Work Permit holder buy a rental property?

I think banks do not allow mortgages for investment property if you are not a permanent resident/Citizen.

If you want to purchase with full down payment i do not see why not but i'm not 100% sure.

 

[vivek901]

Right now GTA is over priced. Not sure if real estate is the best investment right now. Better invest in growth stocks or buy leap options

 

[milon45]

Hi,

I've recently become a PR in Canada, and I would like to invest in real-estate. Where would you recommend are the best areas for the highest ROI from rentals or best prospect for appreciation like soller mallorca ? (Max. investment of 800K CAD)

I did alot of google searching but thought I would check with you all directly as well.

Thanks !

Certainly! For a maximum investment of 800K CAD in Canada, I recommend looking into cities like Toronto, Vancouver, Calgary, Edmonton, Montreal, Ottawa, Saskatoon, and Winnipeg. Each of these cities has its own unique real estate market dynamics, so you may want to explore the one that aligns best with your investment goals and budget.

 

[foodie69]

Certainly! For a maximum investment of 800K CAD in Canada, I recommend looking into cities like Toronto, Vancouver, Calgary, Edmonton, Montreal, Ottawa, Saskatoon, and Winnipeg. Each of these cities has its own unique real estate market dynamics, so you may want to explore the one that aligns best with your investment goals and budget.

Stop spamming

 

[milon45]

FN aren’t part of immigration stats and FN still make up a relatively small percentage of purchases across Canada. Many countries have also been cracking down on money leaving the country and due to economic uncertainty and concern about Canada’s e oniony many investor may not want to invest at the moment. If anything FN tend to purchase in the condo market which is one of the areas that is likely to suffer most. A very small fraction of international students have parents t
who can purchase a home for them to live in. There are some WP holders, not a huge percentage, who may have the funds to purchase real estate right after moving to Canada but may not especially during the first few years. I indicated that as well. Some WP holders may have no intention of living in Canada longterm, many have no credit history in Canada making it difficult to secure a competitive mortgage rate, many will want to get a feel for a city and their employer to determine where they want to purchase and some will want to have their PR application in process or will want want to have secured PR before making such a huge investment. I did point out that many WP holder may buy after 1-2 years and not on arrival when they know their future is secure in Canada and they have their PR or in the process of receiving it.

There have already been effects on the real estate and real estate investment office. Many real estate investor had to transition from AirBnB to longterm rentals or wait out the situation with very little bookings Home for sale Staten island. The prices of rentals are going down in many areas from Toronto and Vancouver to many of the smaller communities with colleges or universities.

Its been a long time goal to get into buying property to rent out as a long term investment for when I retire but saving up a 25% deposit has been out of my reach and up to now I've been concentrating on paying off my mortgage. I met someone (in property) yesterday who said that was the wrong thing to do. She advised to take out an extra £50k on my mortgage to use as a deposit and put that down on a buy to let HMO property. Get that on an interest only mortgage I think she said so I'm paying less. I'm now seriously rethinking things. Its scary to think of taking out that much extra when I've been concentrating on getting it down. Its currently £70k left and my house is worth around £285k so to borrow another £50k would take my mortgage to £120k with 24 years left. I don't see how else I would get a big enough deposit but then if I have a larger mortgage on my own house, I'm not sure if a lender would lend me another £150k to put down on a buy to let property. I earn around 30k a year.

 

[steaky]

Its been a long time goal to get into buying property to rent out as a long term investment for when I retire but saving up a 25% deposit has been out of my reach and up to now I've been concentrating on paying off my mortgage. I met someone (in property) yesterday who said that was the wrong thing to do. She advised to take out an extra £50k on my mortgage to use as a deposit and put that down on a buy to let HMO property. Get that on an interest only mortgage I think she said so I'm paying less. I'm now seriously rethinking things. Its scary to think of taking out that much extra when I've been concentrating on getting it down. Its currently £70k left and my house is worth around £285k so to borrow another £50k would take my mortgage to £120k with 24 years left. I don't see how else I would get a big enough deposit but then if I have a larger mortgage on my own house, I'm not sure if a lender would lend me another £150k to put down on a buy to let property. I earn around 30k a year.

What is the Canadian equivalent?

 

[canuck78]

Its been a long time goal to get into buying property to rent out as a long term investment for when I retire but saving up a 25% deposit has been out of my reach and up to now I've been concentrating on paying off my mortgage. I met someone (in property) yesterday who said that was the wrong thing to do. She advised to take out an extra £50k on my mortgage to use as a deposit and put that down on a buy to let HMO property. Get that on an interest only mortgage I think she said so I'm paying less. I'm now seriously rethinking things. Its scary to think of taking out that much extra when I've been concentrating on getting it down. Its currently £70k left and my house is worth around £285k so to borrow another £50k would take my mortgage to £120k with 24 years left. I don't see how else I would get a big enough deposit but then if I have a larger mortgage on my own house, I'm not sure if a lender would lend me another £150k to put down on a buy to let property. I earn around 30k a year.

Please do not invest in property at the moment especially if you only make 30k a year.