Buying a new House in Canada for New Comers

[gurpreet.ts]

Absolutely, should get in touch with reliable mortgage agents to understand your affordability as well as options/differences in terms of different lenders.

 

[YVR123]

We actually did have pre-approval that's why we were shocked when we went in to get more information about the actual house purchase before we put in an offer.... well...
It's been a few years now and we have a much better account manager (with another bank) and a mortgage broker.

 

[Klaverveld]

What would be the extra costs when we want to buy a 400k dollar home in Alberta?
Downpayment could be 100k

 

[gurpreet.ts]

What would be the extra costs when we want to buy a 400k dollar home in Alberta?
Downpayment could be 100k

There is no land transfer tax in Alberta (which is great) so you won't have to incur the major expense of 5-6k in your purchase.
You should be looking at around 1000 dollars for the lawyer costs, additional 1000 max for title insurance and various other small disbursement costs. Besides this depending on the house you may want to budget 300 odd for home inspection and another 300 for appraisal, if required.

 

[canuck78]

What would be the extra costs when we want to buy a 400k dollar home in Alberta?
Downpayment could be 100k

New build or existing?

 

[canuck78]

Would only purchase in Alberta once you have jobs. The economy is not great so you should remain flexible to move where you can find jobs.

 

[Klaverveld]

New build or existing?

Existing...
We are home owners in our home country, which we will sell before leaving. This brings us some nice savings.
Approx 100k downpayment should reducebour monthly costs, so with the savings we could handle some time without jobs

 

[Klaverveld]

There is no land transfer tax in Alberta (which is great) so you won't have to incur the major expense of 5-6k in your purchase.
You should be looking at around 1000 dollars for the lawyer costs, additional 1000 max for title insurance and various other small disbursement costs. Besides this depending on the house you may want to budget 300 odd for home inspection and another 300 for appraisal, if required.

Thanks for your reply!

 

[gurpreet.ts]

Thanks for your reply!

No problem, feel free to reach out if you have any further questions.

 

[j0pd008]

Hi ,can we buy house in different province than where we are living?

 

[YVR123]

Hi ,can we buy house in different province than where we are living?

find a realtor in that province and ask for information. If someone can buy a property from overseas, I am sure that can be done across province.

 

[red_rom]

Hi ,can we buy house in different province than where we are living?

If you could please let me know the the province, I could help.

 

[steaky]

If you could please let me know the the province, I could help.

You have the relevant license for all provinces in this country?

 

[red_rom]

You have the relevant license for all provinces in this country?

I have license to trade in Ontario and my brokerage/brokerage branches have license to trade in other provinces. Please let me know what provinces are you looking for.

 

[scylla]

I have license to trade in Ontario and my brokerage/brokerage branches have license to trade in other provinces. Please let me know what provinces are you looking for.

Houses aren't "traded". How experienced are you in the RE field exactly?