Select Page

Russian CanadianHi everyone who is reading my blog about Russia and Canada and immigration from one to another one and back. Something to share from my personal experience with those who are planning to buy a house in Canada

So, that’s the question: “How to buy a house in Canada?” and people who are thinking about it sometimes don’t know where to start. We all were there, weren’t we?

Everyone has different personal experience, so the outcome might be different as well, but here is my 5 cents.

First, let’s ask “Do we want to buy it?”

If you are renting an apartment and want to to move to a house, this is a life-changing decision. Same if you are renting a house and want to buy one. Your ability, your mobility, your responsibility – all this will change in a day.

Those who rent think:

  • Renting is easy. Pick the place to live, move in. If you want to move somewhere else – just move. Any problem – call the superintendent and he/she will fix it for you.
  • Owing is complicate. You get tied up to the place. You cannot move easily without financial troubles. All issues are yours, no one but you have to fix it.

Those who own think:

  • Renting is not savvy. You pay and all money goes to the owner. You don’t own it, so cannot change anything. You cannot paint walls as you like, plant your garden as you like…
  • Buying a place is good for karma. People respect you. Money that you pay go (partially) to your packet. You own and rule the place. Plus, in short 25 years, it is your place and most likely it will cost much more, even considering the interest that you paid to the bank.

So there are pros and cons and the decision is very personal here.

If you are still saying “Yes I want to buy a property”, then the very next step is to estimate your financial ability.

To be continued…

Share This