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Why Choose Canada For Your New Residence

Why Choose Canada For Your New Residence

Canada is an excellent place for a second home. Many people have chosen Canada for its relaxed lifestyle, social and political acceptance, and beautiful scenery. Many of the major airlines offer lower fares so traveling to Canada is much more economical than in previous years. The international housing market is still in its infancy, so developers are eager to attract buyers with a competitively priced housing market.

 

Canada Has Fared Well With The Recession

Canada offers a competitively priced residential housing market. Canada offers it's homeowners a proper capital appreciation, offering great investments for British second homeowners.

Canada has survived the global recession much better than other countries across the world. The reason for Canada success with the depression is the government saved money when times were well, giving the Canadian government a budget surplus for 12 years.

 

Where To Look For Great Locations In Canada

Eastern Canada, overall, offers more economy priced homes than it's western counterpart. If you are looking for competitively priced urban housing, Montreal provides the lowest residential prices of Canada's urban areas. If you are looking at buying in one of these urban areas, now is the time. These areas offer sparling countrysides, and fully equipped and fabulous sporting facilities. Canada provides central locations to significant countries. The United States in only 40 miles south from Canada. Boston and New York in only a six-hour drive, or just a one hour flight. Do you want to take a quick trip to London, England? Hop on a plane, and you will be in London in about seven hours.

Do you like the vast mountains, the clear waters of the ocean, catching the sun's rays while relaxing at the beach, rafting down a quiet river? Then you will love living in Vancouver, Canada! Vancouver offers the very luxurious life and has some of Canada's most affluent residential areas.

 

Resorts and Businesses In Canada

Canada has significant interests in the business of the resorts. Resorts are affluent in the eastern part of Canada and are now substantial business for Atlantic Canada. As a result of a significant boom in resorts, build quality second to none, most maintenance is taken care of by a management company, and capital appreciation is outstanding in eastern Canada.

 

Buying A Property In Canada

Be prepared and review rules and regulations on purchasing property in Canada. If you are planning to live in British Columbia, New Brunswick, Newfoundland, Nova Scotia, Ontario, or Quebec there are no restrictions placed on non-resident or foreign ownership, as long as you live at least six months out of the year in Canada.

If you are buying a property from a new developer, no REALTOR@ is required. Otherwise, potential buyers have to register with a REALTOR@.

 

Finance Options

Some UK banks will loan up to 80% of the purchase price for a second home purchase over, usually, a 15 year period.

 

Knowing Canada Tax System

Residental properties are subject to yearly local taxes of 0.5% and 2.0% of their valve. Non-Residents pay federal, and provincial income tax on all income source out of Canada. Non-Resident selling property in Canada has to pay a Capital Gains Tax of 25% on the profit incurred from the sale of the property.

 

Passports, Visas, and Residency

To enter Canada as a visitor, you have to hold a standard 10-year passport. If you are a non-resident, you can live up to six months out of the year in Canada. If you become a permanent resident in Canada, your non-resident status converts to a resident of Canada.


Caitlin Weaver
Sales Representative
(416) 890-3017
cweaver@chestnutpark.com

Chestnut Park Real Estate Limited, Brokerage
1300 Yonge Street, Suite 100
Toronto, ON M4T 1X3

(416) 925-9191