{"id":31459,"date":"2019-12-27T15:49:56","date_gmt":"2019-12-27T20:49:56","guid":{"rendered":"https:\/\/www.escapeartist.com\/?p=31459"},"modified":"2020-08-28T12:39:21","modified_gmt":"2020-08-28T16:39:21","slug":"buying-property-in-metro-vancouver-b-c-canada-for-non-residents","status":"publish","type":"post","link":"https:\/\/www.escapeartist.com\/blog\/buying-property-in-metro-vancouver-bc-canada-for-non-residents\/","title":{"rendered":"Buying Property in Metro Vancouver, B.C. Canada for Non-Residents"},"content":{"rendered":"

Buying Property in Metro Vancouver, B.C. Canada for Non-Residents.<\/strong><\/h2>\n

Are you a non-resident in Canada? Wish to make a property investment in Metro Vancouver British Columbia? British Columbia is one of the most lucrative real estate markets out there in Canada. This market features a wide number of high-end homes and condos to purchase<\/a>. British Columbia is also highly favorable to live in.<\/p>\n

This is the reason why most non-residents in Canada prefer settling down in British Columbia. Another major region in Canada that is a hot-favorite among the immigrants or non-residents in Canada is Metro Vancouver \u2013also referred to as Greater Vancouver.<\/p>\n

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Real Estate Investment In Metro Vancouver And British Columbia By Non-Residents<\/strong><\/h2>\n

As an immigrant, you might be overwhelmed by the overall complexity of the process of real estate investment in Canada. This is because you are obliged to abide by the abundant real estate laws and multiple sets of processes for achieving the same. When you hire services from a reliable real estate investment agency, you can look forward to making a profitable real estate investment with guaranteed results.<\/p>\n

When it comes to owning a property in British Columbia as a non-resident, there are no restrictions. The only requirement is that while buying a property in Canada, you are required to provide in writing that all your transactions are clear and specifically mentioned in the respective books of records. The best real estate investment as an immigrant is by ensuring that you have proper finances to manage the investment effectively.<\/p>\n

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How To Finance The Purchase<\/strong><\/h2>\n

As a non-resident, you must be worried about your overall finances for a lucrative real estate investment. Most of the mortgage financing that you wish to obtain is likely to be raised out of private mortgage lenders in & around Canada. This is because most of the foreign banks in Canada are known to not favor lending money in case the loan\u2019s security is mortgage-secured by some property situated in Canada.<\/p>\n

For the non-residents, the financing option in Canada is available at around 65 percent of the total purchase price of the given property. Most of the lenders out there are known to provide lucrative discount rates to those who are purchasing as an immigrant. In Canada, mortgages usually tend to have an amortization period of 25 years. Most lending institutions are known to guarantee a fixed interest rate for variant periods \u2013ranging from 1-10 years. The shorter the term will be, the lower the interest rate is going to be.<\/p>\n

As a non-resident in Canada, you can look forward to arranging your finances with a down payment of less than 35 percent.<\/p>\n

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Documentation Required For Real Estate Investment As A Non-Resident<\/strong><\/h3>\n

As a non-resident in Canada, you are required to possess some vital documents in hand for simplifying the overall process of real estate investment. Here are some:<\/p>\n