Housing

Canadian laws allow residents and citizens of other states to purchase housing in Canada on an equal terms, with a few exceptions relating to recreational areas. However, foreign nationals are not able to obtain soft loans from banks to buy a property in case they are not going to move to Canada. This is due to the fact that the Canadian bank can not control or somehow affect the citizen of another country. Buying Real Estate in Canada, the buyer also incurs additional costs, namely, attorney's fees; fee for registration of ownership and registration of credit, credit insurance ( if the loan is taken to pay more than 75 % of the cost of purchased property); home insurance; Land Transfer Tax - a one-time state tax calculated according to the value of the property; cost of technical inspection of the house (if the buyer decides to conduct such an inspection); cost of connection to public services such as gas, electricity, water, telephone, cable; the cost of furniture, household appliances and household goods.


 

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