Do you want to left it vacant (unoccupied) after buying? If not, a presales development might be an option. In Vancouver when you buy a presale unit, the completion might take as long as 4 years. You can move to your Vancouver home when you were notified that the home is completed.
Buying House in Canada while Staying in USA
- Thread starter aksdeo
- Start date
Actually, I was planning to rent it out until I move.
Where can I look for new / upcoming / readily available houses for purchase?
Do we have separate website for each of the provinces
Google. Look for reputable developers...
Btw, you realise you might have to pay capital gain tax when you move in to your former rental property?
Hello, I’m here to ask a few questions about how Canadians go about investing in the US real estate Market. A little background, I’m a young mom who just found out that her 4 year old son might be on the autism spectrum. I’m trying to get him the best possible ressources but also want to remain available to him as he grows up. While I’m still employed by a big5, I don’t plan on doing this forever. I have a special needs child and want to be available to give him the best possible care and attention and to me that means finding financial freedom first. After a lonnng time of brainstorming and consideration, I I think I found the right type of investment that could lead me to financial freedom. After many hours if research, I was able to find certain towns in the US where the cost of buying a home is fairly low but rental prices are moderately high. I want to buy a property in the US and use it as a rental (mostly short term). Are there any of you here who invest in the US real estate market? What were some of the challenges you encountered? Is it still worth it with having to pay taxes both to uncle sam and back home? I have family in the US who hold American citizenship, would going into business with them alleviate my tax burden? As a Canadian, what was the mortgage process like? I read that they can use your Canadian credit score for the approval process, is it really that simple? Does someone have a broker who deals with these kinds of situations they can refer me? I know I ask a lot of questions, I’m also doing a lot of research as well, but nothing seems clear. Thank you all for your help.
But USA is big. A broker in Houston TX probably don't deal with short term rental for example in Bar Harbor, Maine. Unless your US relatives can look after, you might also need someone to look after your investments in Maine
May I ask what has brought you to this site?
Since you joined 2 months ago, you have posted 13 times. Nothing really related to Canadian immigration at all. Some very disparate issues, including where to find a "skilled criminal lawyer in Brisbane", which i take to be a reference to Australia, best city in Canada for sports, the "best possible route to Qatar", buying a house from someone with no title, and a plug for a UK outfit that might just ghost-write a PhD thesis for the right price. Where is the immigration connection?
Now, you ask about U.S. real estate. I have been invested there for over 25 years and could write a book about it, but this is not the place to do that. There are other forums dedicated to investing in many forms, investing in real estate in particular and also foreign real estate. This is not one of those places and I'd rather not see it turned into one. This is not a real estate forum, not an investing forum, or a finance forum, or a general interest forum.
Is short, to be brutally honest, I do not see you as having a legitimate place here. You are wasting your time and that of many who have come here to seek help and/or offer advice/assistance on legitimate Canadian immigration issues.
You talk of "doing a lot of research as well, but nothing seems clear". You post suggests you have done very little research. Unlike the time I moved to US and bought a house, and the internet was in its infancy, there is now a treasure trove of material on the web about things Canadians need to know about investing in US real estate. Some penned by lawyers, some by accountants, some by investors. The clarity is there is you take time to look. This is certainly not the right place in which to seek it.
I am not saying you have come here just to be a pest, but I think you are on the wrong course, maybe quite innocently.
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I am Dual citizen also investment advisor in USA. If you are looking to provide for your authistic son, investing in real estate in a foreign country will be a lousy idea. Dont do it. When you are gone, how will she screen tenants, deal with rental house repairs, file complicated US taxes. Invest in stocks bonds with a good advisor in Canada. Much simpler
Just like working with a good advisor, she can hire someone to screen tenants, deal with house repairs and file complicated US taxes. No big difference.
Huge difference. The cost for an austic child in Canada buying real estate in USA would be crazy. I just took over a case in Boston from a lawyer. Client is middle eastern and child is special needs non citizen. They bought a nice house years ago, it generates 12k a month rent, but it really should be 24k a rent but few of the tenants have decided to stop paying. SO in order to start eviction process, court has to recognize the plantiff the minor child. That has not happened in 3 years back and forth. I think Hamas and Israel will sign a peace agreement before the eviction can start for non payment of rent. If you have a specialized need child do not buy real estate for rental income in another country. ALso just like Canada, USA has also started in some areas to block foreigners. Its mostly to prevent Chinese from buying but the foreign ownership restrictions are coming to USA as well. YOu can hire an in Canada, invest in real estate in Canada and USA through REITS and never face these issues.