+1(514) 937-9445 or Toll-free (Canada & US) +1 (888) 947-9445
Client Portal

Where to invest in Real Estate

gurpreet.ts said:
Agreed, all similar cities like Woodstock, Brantford, St. Thomas are seeing a crazy uptick in prices
Click to expand...
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!
 
joy857 said:
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!
Click to expand...
I think it's doable, no concerns as such that I am aware of. Do you mean like buy a property as an investment?
 
aigerimuz said:
Question: Can a Work Permit holder buy a rental property?
Click to expand...

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.
 
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 said:
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.
Click to expand...
Stop spamming
 
  • Like
Reactions: Kaibigan
milon45 said:
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.
Click to expand...

What is the Canadian equivalent?
 
milon45 said:
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.
Click to expand...

Please do not invest in property at the moment especially if you only make 30k a year.
 
steaky said:
But you consistently telling people not to buy or invest in real property?
Click to expand...

I do not constantly tell people not to invest in real estate. The last few years have been an awful time to invest in most Canadian real estate and you don’t have to be knowledgeable about real estate to recognize this. If you need a home to live in to the next 20+ years and have a significant down payment and additional savings to weather loss of income and a recession go nuts although still wouldn’t recommend it.
 
canuck78 said:
I do not constantly tell people not to invest in real estate. The last few years have been an awful time to invest in most Canadian real estate and you don’t have to be knowledgeable about real estate to recognize this. If you need a home to live in to the next 20+ years and have a significant down payment and additional savings to weather loss of income and a recession go nuts although still wouldn’t recommend it.
Click to expand...

But there's a lot of new / sales homes activities in the last few years in most Canadian real estate...
 
steaky said:
But there's a lot of new / sales homes activities in the last few years in most Canadian real estate...
Click to expand...

Not sure why that is relevant. Many also can’t close on the new builds are under water. New construction planning often starts decade in advance
 
You must log in or register to reply here.