Originally written in Sep 2016 by: Daisy Huang, Broker, GTA top professional real estate agent (High value. Delivered.)

1. Can I immigrate via buying a home in Canada?

No. Although buying a house in Canada is a business investment behavior, this investment is an investor’s personal behavior, and the Canadian government cannot regulate and manage it. Due to the fact that applying for Immigrant Investor Program must place funds under the jurisdiction of the Canadian government-designated funds, the applicant has no right to control the way the funds are invested, so investors buying a house in Canada does not comply with the Canadian government’s investment immigration regulations. For specific questions, please consult relevant experts or refer to the Canadian government immigration website.

2. Do people have to come to Canada to buy and sell homes?

Not necessarily. If the buyer needs to apply for a loan from a Canadian bank, he must come to Canada and sign the loan document in person with the bank. If you do not need bank loans, you can sign a house purchase contract by entrusting/POA an agent to go through the relevant procedures of paying the deposit, inspecting the house and handing over the house. The professional real estate agent you hire will process the documents that need your signature during the buying and selling process by e-signature, scanning, mail, etc. In addition, a licensed home inspector can also be hired to inspect the house and issue relevant reports. The relevant property rights search and transfer procedures all can be done via a lawyer.

3. What are the restrictions for foreigners to buy a house in Canada? What is the difference between Canadians and foreigners buying a house?

Foreigners or non-residents of Canada are free to buy and sell Canadian real estate. Under the Canadian federal government’s Citizenship Act, non-residents of Canada can also purchase, own and sell real estate, subject to the same rules and conditions as Canadian residents or citizens. However, the law also gives provinces the power to restrict the purchase of land by non-citizens and non-permanent residents, or by companies and societies controlled by them. For details, please consult professional real estate broker Daisy HUANG (+1 647-899-0888).

4. Are there any requirements for foreigners to buy a home in Canada?

  • Foreigners need to open a bank account in Canada
  • Whether you are a Canadian resident or not, you need to maintain a good credit history
  • Foreigners need to have enough down payment
  • Foreigners need to manage and arrange their Canadian bank accounts

5. How much is the down payment for foreigners to buy a home in Canada?

Different lenders have different down payment requirements, and if a foreigner is identified as a high-risk credit object by a Canadian bank, you may need to pay a larger down payment. Some lenders require foreigners to prepare at least a 35% down payment, and sometimes lenders may require buyers who put less than 35% down payment to purchase home loan insurance.

6. The process of buying a house in Canada

For more GTA real estate info and inquiries, please contact Daisy Huang, Cell Phone/WeChat/WhatsApp/LINE/Telegram  +1 647 899 0888

Daisy Huang – Canada Top real estate agent; Experienced broker, GTA professional real estate investment expert and advisor, Buy and Sell expert, Numerous premium top award winner, Real estate hall of fame

With strategic business vision, data-driven authoritative analysis, strong industry connections and resources, as well as a track record of high performance and value delivery. DaisyRealty team provides you with professional realty services that ensure high-value delivery and client satisfaction. 

Daisy Huang’s Cell Phone/WeChat/WhatsApp/LINE/Telegram
+1 647 899 0888