;D !!! This this really an over enthusiastic question but a good one .
My Exp says : Always rent a house for first time in any new country and establish yourself there then you can think about buying a house. If you have 3,00000 - 4,00000 CAD$ Cash then you can think of buying a house , If you do not have this much money then you need to pay some down payment , at least 10- 20% of house cost and for rest you need to get loan/mortgage . For Loan u need to have Credit History in Canada / Job in Canada so that Bank is sure that you will be able to pay them Back
Banks don't give unsecured credit card unless you do have US/Canadian Credit History for ppl who are on WP. If u have PR then some banks give Unsecured Credit Card. Otherwise u need to save your money as Guarantee with bank and then they issue you a secured credit card and u can build your own credit history in Canada.
If you buy a house then still you need to pay property Tax which might be according to the city you are staying in and as per the cost of that property. If you buy an apartment ( called Condominium in Canada) you need to pay Condo Fees ( Maintenance Fees around 500 - 600 $ in Toronto ) . So considering all this I feel renting is best option in the initial stage, Once you are in good job and are sure that you are going to stay in a particular city for long time then u can think about investing in a house .
