But if you look at the recent multi-year low of the Canadian dollar, perhaps now is the right time to buy a house (especially if they are moving directly from a foreign country). They might gain a positive return when they sell later (if converted to their native currency).torontosm said:That is exactly my point. How can someone who just moved here know what they want (i.e, which neighborhood is best suited for them, which schools are better for their kids, which locations are best for transit routes, etc.)? That's why I recommended they rent for a period of time until they figure out the city. However, you maintained that they should buy immediately, and they can sort it all out later by selling it if they didn't like it. you sound just like a self-serving real estate agent.
As for making a return, look at what's happening to housing prices in Alberta right now. The only return to be made in the near term is a negative one.
Also, there are various indicative information for people to judge whether it is suitable for them to move - if we are talking about better schools for their kids, we can look at the school reports at fraser institute; if we are looking for transit routes, we can look at the webpages of ttc, translink, calgary transit, etc. Although I'm not a real estate agent, I still suggest to buy immediately and sort it out later by selling or renting if they have other plans.
As ALRIVAS had recommended, one can hire a realtor as that will help the person to have a better experience also they can show them what the best place is for the person according with their criteria.