Wednesday, January 13, 2016
Monday, December 21, 2015
Investing in a Holiday Home in Canada
A Simple Process for Foreign Investor
Be Aware of the Ongoing Expense
All the other expenses that you would be accountable for in your primary home are also likely to be relevant in your second property. Remember, even when you’re not living in your holiday home, you will still be charged for the water, gas and electrical rates, as well as any trash removal, landscaping, regular gardening, and other maintenance services. When you are working out whether you can afford the specific holiday home you have in mind, you should calculate these costs and include them in your budget. Nothing can turn a vacation home dream into a nightmare faster than realizing there are additional expenses you hadn’t considered and can’t afford.
A Stable Market
The Canadian property market is currently in a stable position, meaning that now is a good time to consider investing in property in the country. Interest rates in the country are currently very low, standing at just 0.5 per cent and prices are surprisingly reasonable, particularly when compared to similar markets, however property prices are on the rise, with the national average price of one-storey single family homes in the country increasing by 4.51% during the past 12 months. This means that when you are ready to sell your property on, you should see a healthy return on your initial investment.
“The most beautiful countries in the world”, Rough Guides,
Real Estate rules don’t discriminate against foreigners”, CBC News Canada, http://www.cbc.ca/news/canada/real-estate-rules-don-t-discriminate-against-foreigners-1.1216517
“Holiday home insurance”, QZ,
“Own a piece of paradise”, Money Sense,
“Mulling investing in a vacation home? Here are Canada’s top 5 markets”, The Globe and Mail,
“Eight things to know before buying a vacation home”, Forbes,
This Article is courtesy of
Thank You, Gemma, Ken Calcutt
All images Courtesy off FreeDigitalPhotos.net
Image 1 by Simon Howden
Image 2 and 3 by Stuart Miles
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