It is important to note, however, that while the majority of Provinces (British Columbia, Ontario, Quebec, Nova Scotia, Newfoundland, New Brunswick) have no restrictions on foreign ownership of real estate in Canada, some do limit the amount of property/land that a non-resident can purchase. On Prince Edward Island, non-resident buyers must apply to the Island Regulatory and Appeals Commission for land over 5 acres in size, or land with a shore frontage greater than 165 feet. In Manitoba, non-residents are prevented from owning farmland unless they actually plan to move there within 2 years. Non-residents may not own land over 10 acres in size in Saskatchewan, whilst in Alberta they may only own up to 2 plots of land not exceeding 20 acres in total.
Moving can be very exciting but it can also be very stressful as there are so many things to remember to do! Whether you are doing it on your own, asking friends for some help, or hiring professionals, here is a quick guide to help you through the buying process.
Buying a residence can be a stressful experience. You will experience a roller coaster of emotions while finding the right place, securing the loan, and finally moving in. For most of us, the first time home purchase is the largest investment we’ve ever considered.
It is essential as a first time home buyer in the real estate market that you work with someone who is experienced with first time buyers. First time buyers will usually have more questions than people who have purchased real estate previously. Buying a home…