Can US citizen buy property in Canada?

It's not surprising that Canada has a thriving expat community given the vast array of opportunities the country provides. Canada is a great place to live, whether you're looking to explore the great outdoors, relocate to be near family, or seize a fantastic new business opportunity.

Therefore, there are many benefits to buying property in Canada, but if you live in the US and want to buy real estate in Canada, you probably have some questions. So today we'll find out if US citizens can buy property in Canada.

Can US citizen buy property in Canada?

In Canada, non-citizens have the same ownership rights as citizens, and foreigners interested in buying real estate are typically welcomed. Therefore, if you are a citizen of the US, you can definitely buy property in Canada.

Americans can own property in Canada without establishing residency there, but they must disclose their income or sale proceeds to the tax authorities of both nations.

In addition, anyone buying real estate in Canada is required to pay the Non-Resident Speculation Tax, also known as the Foreign Buyer's Tax, which is due at closing when a foreign buyer buys a home anywhere in the province of Ontario or in certain areas of British Columbia. This tax is 25% in Ontario and 20% in B.C.

Understanding Canadian mortgage financing before buying a home

In Canada, there are two ways to pay for real estate: with cash or by taking out a loan from a lender. Whichever option you select, the depositing procedure is essentially the same as it is in the United States. It will be necessary to pay a deposit, typically within 24 hours, of the agreed-upon home purchase amount.

However, if you intend to finance your purchase through a bank, be aware that you must do so through a Canadian bank and not a U.S. bank. You must provide certain supporting documentation, such as pay stubs proving your income, records of your credit history in the US and Canada (if applicable), and a letter of recommendation from your US bank outlining your financial situation in order to be approved for a mortgage in Canada.

US citizen can buy property in Canada

Foreign nationals have been allowed to purchase property in Canada until recently. But starting in January 2023, non-Canadians will no longer be allowed to purchase residential property for 2 years.

However, there are notable exceptions made for permanent residents and temporary residents, such as foreign students and temporary workers. The measures are a part of Bill C-19, the Budget Implementation Act of 2022, which the federal government passed on June 23 in an effort to cool the sweltering housing market.

Last Updated:

2022-12-07

Real Estate Canada

us citizens

canada

property canada

buying property

toronto

Why are houses so expensive in Canada compared to United States?

Homes in Canada are usually expensive than in the United States, and recent data also proves this point. On an average, a Canadian home costs around CAD 701,815 (USD 562,131), while in the US, this is approximately USD 395,000 (CAD 494,628). Surprising isn't? but there are many factors responsible for this price difference. Let's take a closer look at these factors. ## Factors responsible for higher houses price in Canada The main factors for higher price of houses in Canada are- ## 1. Higher Demand for Homes The demand for homes in Canada has been higher than the available supply for years which creates competitiveness in real estate market. This higher demand allows the seller to sell to the highest bidder, sometimes above the home’s current value. ## 2. Low Interest rates Another reasons for higher house price in Canada is the low interest rates that are set by the Bank of Canada. At present, the interest rate is at a record low i.e., 0.25% which makes it easier for people to get mortgages and buy homes. This has led to a higher demand for homes and, in turn, increased prices. On the other hand, the US Federal Reserve raised interest rates several times, thereby reducing demand for homes and cooling off the housing market. ## Foreign Investors Interest Foreign investment has fueld-up the home prices in Canada, particularly in provinces such as Ontario and British Columbia where Foreign investors participate actively. They buy homes here to rent or sell them later for profit, thereby making the market competitive. According to a report released by Statistics Canada, investors have been behind one-fifth of home purchases since the pandemic started, with the majority of them coming from China. In Toronto, investors account for 22.7% of home purchases in February 2022. To limit investors' purchase of homes and prevent further price increases, some cities have implemented foreigner taxes, such as Toronto's 15% tax on all home purchases by those who aren't permanent residents or citizens of Canada. ## Immigration Canada welcomes thousands of immigrants every year, and this influx of people increases demand for housing. The country's immigration policies are aimed at combatting population decline, but it also creates pressure on the housing market. In 2021, Canada announced plans to welcome over 400,000 new immigrants annually. While it's hard to quantify how immigration affects housing prices, the increase in demand due to new residents and their families seeking homes has undoubtedly contributed to the country's high housing prices. ## Why are houses so expensive in Canada compared to United States? The main factors includes, the high home demand, low-interest rates, foreign investment, and immigration which is not the case in US. But there are plus points of these factors also, i.e., they are also driving growth in the real estate industry, making it an attractive investment opportunity for those who can afford it.

Which is The Best Place to Live in Canada for Indian Immigrants?

Are you planning to move to Canada? But wondering, **Which is the best place to live in Canada for Indian immigrants?** Here we present an exclusive list of some of the **popular 6 cities for immigrants to live and settle down**. No doubt, Canada has been home to the largest population of **Indian immigrants**. Indians even have their street, specific market where you can buy any Hindi, Punjabi, Gujarati, etc. items and foods. Their language and traditions are now making grand within the communities. In fact, some places in Canada, don't let you feel home sick at all. You can follow your beliefs and culture, celebrate and enjoy like you would have done back in India. For those who are still contemplating which cities to immigrate to within Canada. Here are the most popular cities for Indian immigrants with their skilled and economic resources. Best 6 Cites to Live in Canada for Indian Immigrants ---------------------------------------------------- So, let's catch up with the details on the top cities for Indian immigrants wishing to move to Canada. 1\. Toronto ----------- The capital of the Canadian province of Ontario. The most populous city in Canada and the fourth in North America. This is the most popular city for Indian immigrants and over 40% lives there. Because of the plethora of job opportunities available in different sectors like technology, telecommunication, security, financial sector, and healthcare. Also home acquired skills jobs are in high demand like a cleaner, residential cook and more. You also have a lot of [fun activities to do in Toronto](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), that also make it a busy tourist destination. The immaculate public transit system makes it easier for people, especially students to travel around the city and experience its beauty. That includes clubs, malls, cinemas, museums, and historical places. Remember, Toronto is quite an expensive city. It could really pinch your pocket especially as a new immigrant from India. But don't worry, If you can't afford it here, you can have a look at the [**10 Best Toronto Suburbs for Families to Live & Grow**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow). 2\. Vancouver ------------- It is the most populous city in British Columbia, located on the pacific coast in western Canada. It is known for its beautiful nature, art scenery, and different thriving location for filming. The excellent standard of their universities makes the city have numerous international student immigrants. In terms of housing affordability is one of the most expensive cities in Canada and the world but is the most livable city. For an immigrant that loves to work in service industries, this city is the best option because it's their top tie. Others include construction, tourism, high technology, entertainment, manufacturing, mining, fishery & aquaculture, and forestry. Temperature degrees won't be the least of your worry because it is moderate compared to other cities. You may also like to learn about [**Top 10 Real Estate Companies in Canada**](https://getnewhouse.ca/blog/top-real-estate-companies-in-canada-largest/). 3\. Calgary ----------- Looking from the outside, Calgary might feel like an unusual destination for Indian immigrants whereas thousands of Indian workers and students live there. It is the largest city in Alberta province and the third-largest city in Canada. In terms of the economy, Calgary thrives in the energy sector and ability switch to a green energy source to meet its energy consumption needs. Other prosperous industries include mining, engineers, mechanical, entrepreneurs, technicians, health, financial service, and tourism. Calgary tends to receive a lot of snow in winter, which makes it more attractive for Indian immigrants who are not seen or used to snow. Living standard cost is pretty lesser compare to Vancouver and Toronto. 4\. Halifax ----------- Halifax is the capital province of Nova Scotia and is the largest municipality in its province and Atlantic Canada. Its port is one of the best harbors worldwide and significant in the Atlantic ocean. Halifax is a major cultural center within its province and a home to many region's major cultural attractions. Such as art galleries, theatres, and museums. It also hosts several festivals. It is easier for Indian immigrants to get a permanent residency in this province. By using Halifax- Provincial program or the Atlantic Immigration Pilot Program. For immigrants who prefer a place away from hustle and bustle of city life, Halifax is the best option. The temperature is not as harsh compared to other cities in Canada. 5\. Montreal ------------ Montreal is the second-most populous city in Canada and the most populous in the Canadian province of Quebec. It is one of the best place to live and study in Canada because of its several parameters and top-notch university reputation. For [**new immigrants**](https://getnewhouse.ca/blog/why-is-immigration-good-for-canada/) who want to travel with their families such as Indians who consider family as everything, Montreal is the best place to consider. The city is extremely safe with a low crime rate and holds abundant job opportunities. Searching for a job or part-time job as an Indian immigrant is not a hassle. The Quebec provincial government also support families with a monthly allowance for their kid. The allowance covers child support for kids below 18, school supplement for children between 4 and 16 years old, and supplements for disabled children. 6\. **Waterloo** ---------------- Waterloo is a city in the Canadian province of Ontario. It is one of the cities with the most cultural diversity in Canada with serval scenic views and places for younger people to have fun. Indian international students are attracted to this city because of the famous University of waterloo. The majority of Indian immigrant has made this city their home. Waterloo has a strong knowledge and service-based economy in significant insurance and high-technology sector. **To sum up** Choosing **the best place to live** or work in Canada as an Indian immigrant can be stressful. That's the reason we took the step to bring together the best places and their potential. So, do consider one of these top cities for Indian immigrants to settle down. A New Country, New Job & New Beginning! Keep in mind, settling in a new country comes with its own challenges! So, whether you are an Indian immigrant or from any other country, it may take some time to establish yourself at a new place. And, finding that perfect destination is not an easy task. Initially renting a house would be a good decision. But gradually, buying a house may prove economical (only when affordable amidst the sky-rocketing prices in Canadian real estate). Don't forget to find out if [**new immigrants can buy a house in Canada**](https://getnewhouse.ca/blog/can-new-immigrant-buy-house-in-canada/). Once you find the best place to live in Canada as an Indian immigrant, do share with us. Feel free to add your experiences and feedback.

Will The Housing Market Crash in Canada? Reasons

Looking at the current scenario, you might be wondering, **Will The Housing Market Crash in Canada?** Not sure, which way the Canadian real estate market is heading? Here we discuss how the housing market boom is winding down and how it impacts home buyers and sellers. Canadian Housing Market ----------------------- Analysts say that Canadian household prices will fall by up to 20% this year as rising interest rates impact the country's thriving real estate industry. Mortgage rates are expected to rise once more as the Bank of Canada vigorously raises interest rates to combat spiraling inflation. Economists predict that higher borrowing rates will cause significant price drops in some of the most volatile markets. The COVID-19 pandemic sparked a surge in activity in the Canadian housing market. The combination of lower interest rates and historic fiscal support urged many Canadians to update their accommodation. As a result, nearly all metrics of housing market activity skyrocketed. The increase in housing-related borrowing, expenditure and investment helped prevent worse economic and financial outcomes during the subsequent recession. Recent Boom in The Housing Market --------------------------------- Who could have anticipated that a global pandemic would be sending the Canadian real estate market into hyperdrive? After breaking sales numbers across the country in 2020, those records were broken again in 2021, as demand continued to surpass the number of available properties, pushing up costs. Add in rising inflation, and it will take "years" for the market to rectify itself and come back to pre-pandemic levels, according to the government's December financial update. With each passing month, Canada's red-hot property market rages on, showing no signs of abating. More than 580,000 residences were bought and sold in the first ten months of 2021 alone, outpacing the total for the entire past year, when a record 552,423 homes changed hands. Overall, the nationwide MLS Home Price Index ended the year up a record 25.3% from the previous year. How The Canadian Housing Market is stabilizing? ----------------------------------------------- The real estate market is now displaying signs of cooling. In September, house price appreciation slowed to its weakest pace in seven months. Permits to build and home sales appear to have exceeded in March, with data from the previous five months indicating a visible slowdown. Furthermore, raw material prices are responding to normalizing demand. The second-quarter GDP report revealed a significant decrease in commissions and fees regarding sales activity. It is coherent with Canadian Real Estate Association data, which shows a 15% year-over-year decrease in total transactions. The market's supply side is becoming depleted. The COVID-19 crisis drove many Canadians to purchase new residences, with low-interest rates and a flood of fiscal assistance inspiring high demand. Aside from the historically low borrowing rates, pandemic-induced shifts in choices drove potential buyers to seek out larger homes. However, with the mass acceptance of vaccination and adjusting to the new normal, this dynamic appears to be nearing its end. House price growth is now starting to slow. Increases in new-home prices over the previous year peaked in May. Interest rates remain expected to rise as the Federals reduce its capital spending. It is anticipated that the bank's monetary stimulus programs will end in early 2022, but lawmakers will allow investments to mature off the income statement rather than engaging in a full hinge of selling securities. The end of the programs will mark the first interest rate inflexion point. Factors Contributing to Slowdown of Housing Boom in Canada ---------------------------------------------------------- Some of the crucial factors to note are: ### 1.Rapid growth in the last two years One of the main reasons people see the Canadian housing market bubble as an obvious danger right now is the market's speed over the last two years. While prices have been rising for decades, we saw an unparalleled acceleration in 2020 and 2021. Simultaneously, interest rates were good enough to allow Canadian consumer debt to reach new highs, making us even more susceptible to potential economic shocks. There is the psychological component that has been observed in recent years of people wanting to buy for fear of being left out. Not only were valuations high, but so were sales, implying that an even larger number of people purchased at high prices. While there are aspects like the mortgage stress test, there are ways around them, and these high-risk loans combined with amazingly high debts could spell trouble when interest rates rise. ### 2.Prices still have room to slip. A drop in house values is one of the factors that has been widely anticipated for the next year or two. RBC Economics recently estimated that home price growth would slow through 2022 and that home prices would fall in 2023. Higher interest rates are already impacting urban centers like Toronto, where prices are falling after reaching a peak. A drop in housing values is not the same as a bubble burst. A slow decline is preferable to continue price increases. What this does show is that there is a very real possibility that the market will falter. Things will not be as bad if the price decline is well handled and incremental. ### 3.Interest Rates and Rising Prices With record-low interest rates over the last two decades, the Canadian economy escaped the pandemic relatively unharmed. However, it also increased inflation, and we are now facing the consequences. House prices are already beginning to react as the [**Bank of Canada raises interest rates**](https://getnewhouse.ca/blog/what-does-higher-interest-mean-for-housing-market-in-canada). However, there is still plenty of unfulfilled demand to keep prices rising for the time being. As interest rates increase to fight inflation, there is a risk of a recession, which could significantly reduce activity in the Canadian market and cause many to offload, causing the market to fall. Again, it all boils down to how quickly changes can occur. ### 4.Government Rules and Regulations One of the most recent notable slowdowns in Canadian home prices occurred in 2016 and 2017 when government agencies enacted a slew of new housing restrictions to help stabilize the market. The new changes were effective for a time until home values began to rise again. This demonstrates, at the very least, that government regulation can affect buyer sentiment. Will Canadian Housing Market Crash? ----------------------------------- While the Canadian bubble could erupt this year, it appears to be a less likely scenario overall. The prices are stabilizing a bit, but the housing supply issue still exists. With massive number of immigrants pouring in the coming years, it would be interesting to watch this price correction. After all, [**new immigrant home buying**](https://getnewhouse.ca/blog/can-new-immigrant-buy-house-in-canada/) dreams become even more stronger after being here for sometime. And, houses are in limited supply! That being said, no one can predict if the market will crash or simply stabilize. Rising inflation, high interest rates coupled with reduced purchasing power will definitely impact the prospective buyers. However, as an investor, it is critical to understand the possible routes you may take. So, prepare and capitalize on opportunities while safeguarding yourself from losses. Observe the ongoing changes carefully and take wise steps in the dynamic Canadian Housing Market. _Wishing to share your opinion on the trending housing market in Canada? Fee free to discuss here._

Things To Know Before Buying Pre-construction Condo In GTA, Canada

Are you planning to buy a Condominium in the Greater Toronto Area, Canada? Here we discuss few important **Things To Know Before Buying A Pre-construction Condo In** Durham, Halton, Peel, and York region in Canada. One of the reasons for the development and construction of more condo projects in Greater Toronto Area (GTA) is simply because there is high demand for condos. Prospective condo owners can pre-purchase units before they are developed to help fund the development of condos. There are different advantages to buying condos during the pre-construction stage as they are more affordable than houses. Buying pre-construction condos is considered a good way to enter the **real estate** market in Toronto. But the process of financing and buying condos is different from buying a resale home. If you are considering buying a pre-construction condo in GTA or [**Toronto sub-urban areas**](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow), there are certain things you need to know. This includes the home buying process, the pros and cons and many other crucial factors. So, read on as we dive into it in this post. Advantages Of Buying Pre-Construction Condo ------------------------------------------- ### 1\. Minimum Down Payment When you buy your condo at the pre-construction stage it helps you to purchase one with a minimum down payment while you watch your condo value increase. In other words, you can buy a home at today's price and enjoy your home as the value increases over time. Normally when buying a pre-construction condo you are required to pay a 20% deposit of the total amount. But the down payment is broken down into installments of 5% which should be paid throughout the construction project. This means you can secure a condo unit with just 5% of the purchase price. The complete payment can run from 2 to 4 years depending on how long the project lasts. ### 2\. Customization Possibilities Buying a pre-construction condo allows you to build, customize and improve your condo to your preferences and style. The customization you added to your condo can help increase the resale value and also differentiate it from your neighbours. This can help you save money since there is no need to rebuild or renovate. Also, you can choose the countertops and appliances that will be installed in your unit. ### 3\. Cost-effective Within the first few years, there will be no need for maintenance since the condo is new when compared to older buildings. Also, the construction will be made with new material which makes your home more energy-efficient. As a result, the cost of utility bills and ownership can be reduced. So, [**new construction condo**](https://getnewhouse.ca/blog/pre-construction-condo-vs-resale-investment-better-gta-canada/) does save on your repair and renovation bills. Living in a condo means the cost of maintaining the building will be shared among the residents. The cost includes the maintenance of the communal areas, repairs for the building and every other thing that is done on the building in general. This can be of great benefit to those that want a low maintenance home. Disadvantages Of Buying A Pre-Construction Condo ------------------------------------------------ ### 1\. Joint Property Buying a condo means you are jointly owning a property with other people you might not know. Also, there is a possibility that the people in the neighborhood will keep changing every time. You will only be in control of your unit and the influence you will have in terms of making group decisions concerning the complex will be limited. ### 2\. Various Fees Apart from the normal fees that you are responsible for such as condo and purchase fees, closing costs and other fees to pay. There are various fees attached to buying a condo and they can vary depending on the amenities in your complex. You will continue to pay condo fees and other dues in case of any development in the complex. ### 3\. Delay or Cancellation of Construction Project The issue of delay in construction is inevitable. Delays can occur as extreme weather conditions, delays in the supply chain of material or other financial problems. The worse scenario is the cancellation of the construction project which can be a result of different reasons. It could be because the developers are unable to get enough pre-construction buyers, insufficient funds and more. But in case of any cancellation of a project, you don’t have to worry as your deposit will be given back to you. ### 4\. The Process Of Buying A Pre-Construction Condo One of the most appealing aspects of [**buying a pre-construction condo**](https://getnewhouse.ca/blog/pre-construction-condo-vs-resale-investment-better-gta-canada/) is that you don't have to pay the deposit in full at once. The payment can be done in installments depending on the developers. Usually, the down payment or deposit should be 20% of the purchase price but the payment can be done within six months. So you can pay 5% of the purchase price to secure your unit and the rest every other month. ### 5\. The Cooling Off Period Some provinces in Canada impose a cooling-off period after making a deposit payment for a pre-construction unit to ensure you are not pressured to decide as a result of a limited supply of units. Depending on your province it can range from 7 to 10 days during which you are free to back out of the purchase agreement without repercussions. During this time is when you can choose to sign and secure the unit as well as the price if you like the unit. You don't have to wait that long if you like the place because the price can increase or the units sold out. You have the time to do all the necessary paperwork and means to finance the remaining payment. If you want to consult your lawyer or research the developers or project this is the time for that. ### 6\. Occupancy Period and Fee During this period buyers can move into their condo before the completion of the entire building. It is also referred to as interim occupancy whereby a buyer can occupy the condo and be paying the builder an occupancy fee. You may also like to discover [10 Steps to Build a Successful Home Renovation Business in Canada ](https://getnewhouse.ca/blog/steps-to-build-successful-home-renovation-business-in-canada) Buying Pre-construction Condo: Key Takeaways -------------------------------------------- Buying a pre-construction condo is not as easy as it seems. This is why you should consider the advantages and disadvantages before making a decision. When it comes to buying pre-construction condos, location is very important since you will be sharing space with people. So, if you are planning to invest in **real estate Canada** through pre-construction condos, there are lots of places to buy pre-construction condos in the Greater Toronto area. And if you have made up your mind, don't miss to explore a whole lot of projects at [**GetNewHouse**](https://getnewhouse.ca/). _Discover fresh listings and new range of condominiums to choose from!_

Is Burlington a good place to live and settle down?

Burlington is one of the best places to live in the Province of Ontario, Canada. The town offers residents an urban-suburban mix feel, and most residents rent their homes. Many young professionals live in Burlington, and residents tend to be liberal. Burlington is between Toronto and Hamilton and not too far from the border with the USA. There are also natural landscapes like the Niagara Escarpment and a sandy Lake Ontario beach in its downtown core. Living in Burlington has many benefits. Its top features are amenities, a low crime rate, and culture and community. There are also plenty of local job opportunities. A visit to Burlington’s lakeside and sprawling lakefront park is a great way to appreciate its desirable beauty. Dozens of award-winning restaurants, coffee shops, and boutique shops make the downtown area a favourite destination for residents and visitors. Read on as we walk you through some note-worthy things to know about Burlington. ## Benefits of Living in Burlington Let's catch up with some exclusive benefits of staying in the beautiful city of Burlington: ### 1. Family-friendly Environment Burlington provides a well-balanced life of urban fun and a peaceful living environment. You can hop down to the downtown area to enjoy modern-era restaurants, clubs, bars, nightlife activities, etc. The residential area is engulfed in a serene environment ideal for relaxing and enjoying a good night’s sleep after a long day at work. These provide an enriched family-oriented experience to the residents. ### 2. Exceptional Schools Burlington prides itself on its high standard of education. There are schools for all grade levels and several private schools. Colleges and universities in the area help high school graduates offset the high cost of post-secondary living expenses. Burlington also has sought-after universities. They include the University of Guelph, University of Toronto, McMaster University, and others. ### 3. Recreational Activities Burlington is located along Lake Ontario’s magnificent shorelines, providing different outdoor recreational activities for the residents. Residents can go swimming, boating, canoeing, surfing, or fishing when the weather allows. The city also has hectares of parkland, offering amazing opportunities for families, bachelors, and everyone living there. Burlington is also home to splash pads, ice-skating rinks, community centres, and golf courses. These cater to a broader set of audiences. Do you want to enjoy quality time with your friends and family in natural beauty? If you are the one liking [fun-activities in the Greater Toronto Area](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), this is an amazing choice. There are well-preserved hiking trails and parks in Burlington. They include the famous Bruce Trail, Niagara Escarpment, Waterfront Trail, Spencer Smith Park, LaSalle Park, and Lowville Park. Burlington also has one of the world’s largest lilac collections in the Royal Botanical Gardens. Your kids can run around the well-tended and well-preserved gardens. ### 4. Easy Travel Enjoy easy and convenient access to many major GTA highways, including the 403, 401, and 407. Burlington has three GO Transit stations. They include Aldershot GO, Burlington GO, and Appleby GO. These make it easy for travelers to board GO trains, GO buses, and city buses. Burlington is within an hour's drive to Toronto Pearson International Airport and John C. Munro Hamilton. These make it easy for people planning to travel for business and leisure through the International Airport. ### 5. Modern Amenities Burlington is rich in terms of modern amenities. The city has everything you need limits, from chain stores and supermarkets to family-owned stores. The malls in Burlington offer all the necessary items at an affordable price. There are also verified retail stores for Apple, Sephora, and other prominent brands inside these malls. Libraries, health, and wellness centres inside the city have no limits, along with coffee shops, book stores, and electronic shops. ### 6. Year-round Festival Burlington kicks off the summer season with a Music Festival in Spencer Smith Park by the lakefront. This festival lasts for days and brings many fun options to the residents. Teen tour band concerts, kid-friendly playgrounds, dancing competitions, and eatery contests are also available. Furthermore, the residents set up exhibitions for their art pieces and stalls for outsiders and residents. The annual Ribfest festival is another popular event in the winter season. Food trucks, vendors, and local business shops operate during the festival. These add to the festival’s existing charm. You may also like to explore [Best Toronto Suburbs for Families to Live](https://getnewhouse.ca/blog/10-best-toronto-suburbs-for-families-to-live-and-grow) ### 7. Excellent Location Burlington is one of the best mid-sized cities in Canada. The city location allows residents to benefit from their proximity to Toronto. These help the residents avoid the inflated cost of living found in the core of the GTA. Additionally, some of Canada’s best hospitals are within the city's driving distance. ## Disadvantages of Living in Burlington Burlington offers its residents good opportunities and reasons to be part of the community. However, it also has drawbacks that hinder a few people. Let us explore the disadvantages of living in Burlington to understand the area better. ### 1. Decline in Population Burlington's population has declined in the past years. A decrease in a city's population has many factors. They include pandemics, conflicts, low birth rates, resident migration, and many more. The employment rate in the city also suffered because of less demand for basic services such as hotels, restaurants, and shops. ### 2. Limited Transportation There are only three GO transit stations in Burlington. Those stations are always filled with young millennials making their way to work. Adults and families tend to own cars for shorter commute times. The city highway is also crowded because of the city's proximity to Toronto. The traffic on s 403, 401, and 407 are the worst. It can easily turn a 10-minute drive into an hour-long journey. ### 3. Expensive Housing Houses in Burlington cost $200,000 more than their surrounding regions because it offers a higher quality of life and better options for professional career growth. Burlington also has fewer real estate listings. The listings are also expensive compared to other cities near Toronto. Therefore, buying your desired house is often an ordeal. Additionally, travelling to major metropolitan hubs from Burlington is shorter. These make the real estate options limited. ## Is Burlington a good place to live and settle down? Are you looking for a good place to live in Canada? There can be no better option than Burlington. It is one of the safest cities to live in Canada. The city's educational institutions are top-notch. Your children will experience unique learning from elementary to University. However, it is all based on your personal choice and preferences. If you are planning to settle in Ontario, and can afford it, do consider Burlington as one of the options. Which is your favorite city in Ontario to live and settle down? Do share with us.

Can a non-resident get a mortgage to purchase a house in Canada?

The Canadian real estate market is open to both residents of Canada and non-citizens who reside abroad. There are no restrictions on the kind or quantity of real estate that may be bought in Canada. As a result, a lot of people are interested in buying real estate in Canada but are unable to do so due to a lack of available funds because buying a home or piece of property can be very expensive. Therefore, the majority of people require bank financing or a mortgage in order to buy a piece of land or a house. So, today will determine whether a non-resident can get a mortgage to buy a home in Canada or not. ## Can a non-resident get a mortgage to buy a house in Canada? Yes, non-residents who want to purchase a home in Canada can apply for a mortgage there. Although the interest rates are very similar, Canadian banks frequently demand a larger down payment from non-residents than they do from residents. A **minimum of 35% of the home's value is typically required as a down payment** but these requirements may differ from bank to bank, with some being stricter than others. However, in addition to the down payment, non-residents will often have to show the following as well: - Employment verification letter (including income verification) - Bank statements as proof of deposit(at least three months) - Six months of financial statements or an international credit bureau report - A Canadian bank account from which mortgage payments can be made. There are several other lenders that offer mortgages. These lenders can offer a mortgage of up to 65% of the property’s value. You will also need a reference letter from your bank, bank statements for the previous three months, credit information, and tax returns to prove your ability to pay the mortgage. Additionally, these different lenders may offer comparable products with different interest rates and terms. To make sure you're getting the best mortgage product for your needs, speak with several lenders. Canada has substantial expat communities as well as many foreigners that visit for vacations, employment, or study for a short time. Anyone can purchase real estate in Canada, whether they are a citizen, a resident, or a non-resident. This means that you will be able to purchase land in Canada even if you are a non-resident who resides permanently in another nation. But a frequent query that many individuals have is whether they must travel to Canada in order to purchase real estate while they are non-residents. So today we'll find out if you have to be physically present in Canada to purchase a property or not. ## Being a Non-resident, do I need to come to Canada to buy a property? There are no restrictions on non-resident investors buying real estate or businesses in Canada. You are thus free to buy houses, businesses, commercial properties, or agricultural land. There is no requirement for residency or even physical presence in Canada. You can, in fact, look for properties online from anywhere in the world, work with an agent to do so, and even make a purchase. However, you will need to travel to Canada at least twice if you want to buy a property there. The first time is to open a Canadian bank account so you can get Canadian financing. The second time is to sign all of the necessary paperwork. Foreign homebuyers are not permitted to grant powers of attorney for the purpose of remotely signing real estate documents. **Important:** Until recently, anyone could purchase real estate in Canada. But, after the introduction of Foreign Home Buyer Ban effective from January 2023 any non-permanent residents and non-citizens won't be allowed to purchase residential property for a period of 2 years. ## Do you need to come to Canada to buy a property? You can virtually anywhere in the world see a property online or by working with an agent to do so, and even make a purchase. However, there are specific phases of this process where you'll need to visit Canada, such as when you have to open a bank account, which, as we previously stated, is required for the purchase of real estate. ## Non-resident can get a mortgage to purchase a house in Canada Yes, non-residents can get a mortgage in Canada to finance the purchase of a home in Canada. And as far as mortgage interest rates go, both Canadians and non-residents are subject to the same rates as long as they meet the requirements for mortgage eligibility.

7 Reasons To Live In Stoney Creek, Ontario, Canada

**Are you planning to move to a beautiful Ontario city?** Here we present some **good Reasons To Live In Stoney Creek, Ontario, Canada**. Where you live determines the kind of livelihood you will get. You cannot live in an area where crime rate is high and you expect a peaceful life. You can’t also live where there is no standard living and you expect to get one. If you want an area where highly ranked schools, marketplace, train station and great neighbourhood are, you get to choose Stoney Creek. It’s a place where you get to achieve that dream of a great lifestyle. Do you wonder how beautiful it is to wake up and behold a beautiful natured environment with great serenity and around in it also lies waterfalls, **Stoney Creek i**s the place to live? Also coupled with its beautiful nature, is a modern life, exciting geography and a great history. Stoney Creek Location --------------------- It is a community that is located in the city of Hamilton within the Canadian province of Ontario, not far away from Toronto. Commuting in Stoney Creek is never a problem for its residents as it is connected to 403 and 407 highway and Hamilton GO station and QEW. 7 Advantages of Living in Stoney Creek, Ontario ----------------------------------------------- Here are some of the advantages of living in a sub-urban city like Stoney Creek in Ontario, Canada. ### 1\. Opportunity for A Good Real Estate From research and collated statistics, Stoney Creek is said to be the most preferred choice for most Canadian citizens and foreigners. You don’t have to go too far or stress yourself about the best house to buy and where to buy it. The most interesting part is, that you get yourself some money, that is if you choose to live in Stoney Creek. As per records, Stoney Creek has broken records in the real estate development section due to their mountains and Lake Ontario waterfront. This record break has brought about the development of new condos and buildings. People keep moving from **[Ontario cities](https://getnewhouse.ca/blog/category/ontario-cities/)** to Stoney Creek to have a better life. This area offers more value for your money as you get a bigger house with exciting upgrades at a lesser price as compared to Toronto homes. Stoney Creek has been since 1984 and in 2001 it was joined with six cities to form the new city of Hamilton. Its rural community consists of Winona, Elfrida and Fruitland. Also, Stoney Creek is 40 minutes drive from Toronto, Ontario. ### 2\. It’s Beautiful Nature What makes it stand out is the conservation and nature of this area. For example, it has a conservation area called the Devil’s Punchbowl. The waterfall in this conservation area is a beauty to behold, so serene nature. Apart from this, the Niagara Escarpment waterfall is a haven which also encapsulates various other activities like biking, trekking, photography and hiking. ### 3\. High-ranking Schools When looking before where to settle, one of the factors that should be considered is how good the schools in that area are. Stoney Creek elementary schools are worth mentioning, as they are highly ranked as one of the best schools in Canada. And we all know that placing your child or children in a good school has a lot to do with their growth. The good schools in Stoney Creek have been one of the reasons people keep moving in. ### 4\. Great Canadian History Due to the war that happened in 1812 when the Americans wanted to capture some parts of Canada which they later lost, a park museum and Battlefield house Museum were established. And due to the victory they had, every year, this battle is re-performed for thousands of spectators. People from various parts just for this reason travel down to Stoney creek for this ceremony. And this is what one shouldn’t miss. ### 5\. Stoney Creek Restaurants There is nothing good about a city if there are no better restaurants to feed one's stomach. There are lots of great restaurants where you can get various dishes that best suit your cravings at any moment. Restaurants like Edgewater Manor restaurant, Chicago-style Pizza Shack, the Village Restaurant, Punch Bowl Country Market, Canon Coffee Co., Thai Orchid Maria’s fifties diner and lots more. ### 6\. Wineries This area is known for their wine yards and boutique wineries. They have got some of the best wines in the world. There are various vineyards best known for their great products as they have been in this business for more than 4 decades. There are lots of places to tour and taste wines in Stoney Creek. ### 7\. Movie House What does ending the day with night movies sound like or do getaway weekends filled with movies? Sounds fun, right? When it comes to entertainment, Stoney creek has it all with their Cineplex Theatres, drive-in movies and their local community theatre also. All the above-mentioned places are enough to grab this great opportunity of owning a home in Stoney creek Disadvantages of Living in Stoney Creek, Ontario ------------------------------------------------ Here are some of the disadvantages of living in a sub-urban city like Stoney Creek in Ontario, Canada. ### 1\. Routes can be changed at any time Sometimes, driving downtown can be exhausting. This happens when there are lots of tourists around as they try to alter their traffic lanes just to reduce heavy traffic. This might become frustrating while using your GPS as you might suddenly need to change your route. It might be hard in the beginning but with time, you eventually get used to it. ### 2\. Packed up Tourist Centers As an introvert, there are some particular times that you won’t want to go out. The waterfall in the area attracts lots of tourists and can be highly packed during weekends. If you want to unwind as an extrovert, Saturdays shouldn’t be a choice; you can choose to go during the week. ### 3\. Bad road caused by Steel The steel industries in the area deplete the road mistimed thereby, leading to bad roads. Hence, they need to be reconstructed from time to time. You may also consider [**Oakville in Ontario**](https://getnewhouse.ca/blog/is-oakville-ontario-canada-good-place-to-live/) before taking the big decision of buying a house in a Canadian city. How is it Living in Stoney Creek, Ontario? ------------------------------------------ Living in Stoney Creek is a great choice as it has exciting places to live, work, and play. The environment with great serenity cannot be overemphasized with a great welcoming community. Stoney Creek as one of **[Ontario cities](https://getnewhouse.ca/blog/top-10-best-cities-to-live-in-ontario-canada)** has got you covered for all your housing needs.

10 Best Toronto Suburbs for Families to Live & Grow

**Are you planning to move to a sub-urban area in Ontario, Canada?** Looking towards The Toronto suburbs, its popular areas you can stay with your family and enjoy? **Here we have covered the Best Toronto suburbs for families to live**. May it be renting or buying a home, these family-friendly neighbourhoods should be on your research list. About Toronto: The Capital City of Ontario ------------------------------------------ Toronto is one of the most sought-after cities in Northern America. It is a city that has attracted thousands of immigrants, investors, and entrepreneurs. It's well-developed with efficient public facilities for its residents. This has made Toronto a prime spot for real estate investments. Even though investors know that housing is getting expensive, they still rush to purchase properties in the **Toronto suburbs**. They know that owning property there is a long-term investment that can yield money. If they don't purchase a property now, the selling price will rise in the future. Nonetheless, not all cities in Toronto have expensive housing. Some Toronto cities have lower real estate prices than other cities. They also provide many housing benefits and facilities to homeowners and their families. Therefore, take this opportunity to purchase some affordable properties in the Toronto suburbs. You also have a lot of [fun activities to do in Toronto](https://getnewhouse.ca/blog/what-are-best-fun-activities-in-toronto-in-ontario-in-canada-for-adults), and that makes it a popular tourist destination as well. **Best Toronto Suburbs** for Families to Move in ------------------------------------------------ So, here is an exclusive list of some of the **Best Toronto Suburbs** to choose from. ### 1\. Davisville Village/St. Clair: It's a quiet town that is the go-to place for families to settle down because it's peaceful and affordable. Working-class people are also attracted to this town. Houses in this town are far less expensive than in other towns. The quietness, homeliness, and less population make it an ideal place to raise a family. It has a park and walking areas for families to enjoy a quiet evening walk together. ### 2\. Kensington Market: It's a multicultural town that's older and well known than other towns in Toronto. It is the most ideal place for families to live in. It has many streets that boast thrift shopping centers, bars, bookshops, cafés, eateries, and playgrounds. All these are also within walking distance from each other. Moreover, they are easily accessible to the residents of the town. It has commercial areas that are close together. ### 3\. Brampton: This is a rapidly growing town when it comes to urbanization and real estate. It has schools, innovation/research centers, and shopping centers. The city provides different modes of transport to its residents. The town is not as large as other towns in Toronto, but it is still family-friendly. Due to its small size, it is not as noisy as other towns. It is attracting property investors and developers to develop and invest in the town. If you want a quiet, but affordable neighborhood for your family, Brampton is a good choice. One of the popular destination for [**new immigrants to Canada**](https://getnewhouse.ca/blog/why-is-immigration-good-for-canada/), Brampton ranks high amongst best Toronto suburbs to live and grow. ### 4\. Etobicoke: This is a family-friendly town for families in Toronto. It's popular among families that have kids due to its friendly environment. It has more facilities than other towns. There are well-equipped schools, shopping centers, eateries, and different transport facilities. The transport facilities make it easy to take your children to school and for you to go to work. Residents from other cities can easily get access to Etobicoke. Real estate in Etobicoke is cheaper and rapidly growing. ### 5\. Oakville: Houses are cheaper here, and the town is close to major cities, too. [**Oakville in Ontario**](https://getnewhouse.ca/blog/is-oakville-ontario-canada-good-place-to-live/) has a relatively large population, which has increased the need for more houses. Several investors have taken advantage of this to invest in properties. Your family will not be bored in this town because it has several places of attraction like shopping centers, art centers, and beautiful harbors. ### 6\. Markham: This is one of the **best Toronto suburbs** and can be found on the northern side of Toronto. The town's population is larger than other towns in Toronto. It is an industrial town that houses hundreds of businesses. You can find many I.T firms, corporate organizations, and research firms in this town. It's a **GTA** town because it's close to major cities in Toronto, hence, it's a prime real estate spot. There is public transport available to take residents to cities within thirty to forty minutes. Therefore, it isn't rare to see people have jobs in the city, but have their residential areas in Markham. ### 7\. Pickering: This suburb is a **GTA** (Geographical Target Area) in Toronto. It's a small suburb that has a growing population and has seen a rise in property developments. There are freeways in the town that the residents can use free of charge. This makes the town attractive to working families. Pickering is not too far from other cities. Houses in this town are more affordable than in other places in Toronto. As far as safety and standard of living is concerned, [Pickering is a good place to live in Ontario, Canada](https://getnewhouse.ca/blog/is-pickering-ontario-good-place-live-safe). ### 8\. Eglinton West: Housing in this suburb is cheaper than in other areas. The area is good for those with families or children. There are rail stations and other modes of transport in the area. Residents have access to amenities like malls, eateries, recreation centers, healthcare facilities, sports grounds, libraries, and so on. There are also places of attraction you can take your family to. They are; parks, creek valleys, ponds, and rivers. ### 9\. Vaughan: This town ranks high on the list of the best suburbs for families. It's another prime spot for real estate developers and investors. It's a rapidly growing suburb that is seeing an influx of residents. The town is an urban area that has various amenities for its population. There's a direct subway that connects to major cities. You can also find high-rise offices and corporate organizations in Vaughan. If you'd like your family to live in this town, then buy a property now before the price increases. It'll also be a form of investment for your family in the future. ### 10\. West Queen West: This town is more known for providing all facilities and amenities to its residents. It's a cool town that has many recreation centers for its residents of all ages. Furthermore, you can find vintage boutiques that cater to vintage fashion lovers. The town has record shops and art centers that entertain residents and visitors. You may also explore, [Is Burlington Ontario is a good place to live and settle down?](https://getnewhouse.ca/blog/is-burlington-a-good-place-to-live-ontario) ### **Which is** the Best Toronto Suburb to live? Now that you have discovered these family-friendly suburbs, choose wisely. Find a safe and good **Toronto suburb** to live in and pursue your dreams. Do thorough analysis of the dynamic housing market and then only make a purchase. Also, don't miss to learn [**7 Reasons to Live in Stoney Creek, Ontario, Canada**](https://getnewhouse.ca/blog/reasons-to-live-in-stoney-creek-ontario-canada/) Lots of people are leaving big cities for suburbs due to the cheaper real estate and better environments. So, if you delay now, you might miss the chance to purchase an affordable house for your family. Purchasing a house in any Toronto suburbs also doubles as a form of investment for you and your family. But wait!! Buying a House involves huge investment! [**Renting or Buying a House in Canada**](https://getnewhouse.ca/blog/renting-vs-buying-home-canada-better/) is indeed a big decision. So, be very careful and consider all the pros and cons of staying at a particular place. Renting for a short period at your selected suburb before actually buying a property therein could be a great way to experience the real situation. So, which is your favorite Toronto suburb and why so? Do share your views.

Can I buy a home before I arrive in Canada?

Canada has made it possible for anyone to buy land there. There are no restrictions on foreign investors buying real estate or businesses in Canada. You can purchase land there even if you are a non-resident who resides permanently in another nation. Anyone, whether a citizen, a resident, or a non-resident, is free to purchase real estate in Canada without restriction. However, a lot of buyers struggle with the question of whether it's possible to purchase a home even if they aren't present in person. In order to assist those buyers, we will see if someone can purchase a home before arriving in Canada. ## Can I buy a home before I arrive in Canada? **Yes, you can buy a house before moving to Canada** because neither residency nor physical presence is required to buy a home there. Although it won't be simple, finding a home before you even arrive in Canada but it is not impossible. It's important to remember that what you might consider adequate housing in your country of origin may not be at all what it is here. So, it would be preferable to find a short-term rental property for your first month of residence so you could physically investigate family neighborhoods and employment options prior to purchasing a home. ## How can I find home before I arrive in Canada? There are many options, such as asking a family member or friend who lives there for assistance or seeking assistance from housing assistance organizations that assist people in locating affordable housing. There are numerous rental websites and settlement agencies that offer assistance to newcomers in finding housing, employment, and any other services or information they require to settle down. ## Buy a house before moving to Canada Yes, it is possible to buy a house before moving to Canada. There are many ways to start looking for housing before you arrive. However, it's advised to visit the property in person before making a decision about whether to rent it out or buy it because locations can look very different in person than they do in pictures. **Important:** Until recently, anyone could purchase real estate in Canada. But, after the introduction of Foreign Home Buyer Ban effective from January 2023 any non-permanent residents and non-citizens won't be allowed to purchase residential property for a period of 2 years.

Why are people moving out of Toronto to small cities?

Canada is the most strategic location for settling but nowadays the bigger cities in Canada are not affordable and people living there are not able to manage their expenses. Most native of Toronto would tell you that in recent years, people have been leaving the city for smaller markets to buy homes, start families, or simply get away from the (exorbitantly priced) hustle and bustle of living in Canada's largest city. According to a report, nearly a quarter (23%) of Canadians "moved from a larger market to a smaller one" since March of 2020, and these people are "majorly happy (85% of them) about the move." "Half of the native of Canada those have moved to a small town (52%) trust that their mental health has improved since moving to a smaller community." ## Reasons why people moving out of Toronto ### Expense :- Toronto is the most expensive city in Canada as the middle class people are suffering a lot and that is one of the basic reasons for people to move out of Toronto to smaller cities. The housing cost , the edible food , transportation and other basic necessities is much higher in Toronto in comparison to other cities. ### Traffic :- The Toronto city is having the worst traffic and it's not possible for everyone to travel there. Daily travelling is not possible for many during their rush hour. Compared to the smaller cities, small cities typically have less traffic and shorter commute times, which can be a big draw for those who value their time and quality of life. ### Spaces :- The smaller cities in Canada are having more spaces and better quality of life. The small cities are available with more green spaces, parks and outdoor recreation. Comparatively small cities often have a stronger sense of community and a slower pace of life, which can be appealing for those who want to escape the hustle and bustle of big city living. There are many specific reasons which lead people to leave Toronto and shift to small cities. These include the high cost of living, traffic congestion, the rise of remote work, and a desire for a better quality of life. While Toronto has always been a major economic and cultural hub in Canada, it is clear that many people are looking for a different kind of lifestyle outside of the big city.