Are you ready to find your home in Canada?
As a newcomer in Canada, looking for a place to live may seem challenging and confusing. You will likely consider renting temporary accommodation for the first few weeks or months, until you get a sense of the city or neighbourhoods you want to live in, as well as the local housing markets. You’ll need to figure out what type of homes are available in those areas, and if it makes more sense for you to rent or buy a long term home. Newcomers typically face some challenges in both cases, but in this guide we will provide useful information and tips on how to overcome them, so that you can settle into your long-term home here in Canada. Through this guide, we hope to inform you and assist in your decision-making process so that you’re well-informed and better prepared to make Canada your new home!
For many, the Canadian Dream involves owning your home. This guide will help you understand the different steps involved in buying a home, what stakeholders you may need to involve, and what hidden costs you’ll need to budget for (in addition to the cost of the home itself). For most people, buying a home involves borrowing money from a financial institution, in the form of a mortgage, to be repaid over a number of years. You’ll need to know how much you can borrow, at what rate, and whether that rate is fixed interest or variable interest. This will help you determine what your budget is, and set your expectations as to the kind of home you may expect to be able to afford.
Moving to a new country, a new city, or a new province and finding a place to live can be challenging and overwhelming, but with the right guidance, planning, research, and relevant resources, you will be well-equipped to find a place you can call home.