- Joined
- Jul 18, 2013
- Messages
- 2
Hi there
I am here with the hope of getting some clarifications on some things regarding property in Canada. I am 28 and I am originally from Rome, Italy but I live in London due for work. As you can see form my age, I am still "fairly young" and just at the very beginning regarding houses and real estate in general.
I have an apartment just outside of Rome that was owned by my parents, who died a few years back. I am an only child, with no husband or kids, so that flat is only mine. I am selling the place now, I actually got an offer last week. I want to sell it because I don't like the area where is located because you can't literally live there due to the fact that...well, it's Italy. Nothing works (sorry but that's the reality) and although this place is only 15 miles from Rome, it takes an hour to get to work every morning if you live there. I don't want to end up spending that money once I sell the place as I know it would have broken my parents' heart. I want to invest it in another property, in Canada. I know that as a foreigner you can buy a place in Canada. Now, I live in the UK permanently and a small house in Canada would be only as a vacation house. I love Canada, I feel safer when I am there and I think it's a beautiful Country for a person who loves nature like I do. My budget would be 87.000-89.000 euros which is maybe around $100.000. I tried to get in contact with some real estate agencies and they keep telling me that I need over $300.000 (all 3 told me the same in 3 different areas of Canada: BC, AB and ON) and to use the money I get to put down the 35% I need to get a big fat mortgage as a non resident. I don't want to because I don't want a mortgage and it would be a house that I use maybe 2 months per year, you know, for my holidays. It would be a holiday home. Or something like that. I just want to get that money and buy a place, that's it. No banks. I was looking for places in ON, like Hamilton or other towns. Do you think it's possible to find a place for let's say $95.000 somewhere there? Thank you
I am here with the hope of getting some clarifications on some things regarding property in Canada. I am 28 and I am originally from Rome, Italy but I live in London due for work. As you can see form my age, I am still "fairly young" and just at the very beginning regarding houses and real estate in general.
I have an apartment just outside of Rome that was owned by my parents, who died a few years back. I am an only child, with no husband or kids, so that flat is only mine. I am selling the place now, I actually got an offer last week. I want to sell it because I don't like the area where is located because you can't literally live there due to the fact that...well, it's Italy. Nothing works (sorry but that's the reality) and although this place is only 15 miles from Rome, it takes an hour to get to work every morning if you live there. I don't want to end up spending that money once I sell the place as I know it would have broken my parents' heart. I want to invest it in another property, in Canada. I know that as a foreigner you can buy a place in Canada. Now, I live in the UK permanently and a small house in Canada would be only as a vacation house. I love Canada, I feel safer when I am there and I think it's a beautiful Country for a person who loves nature like I do. My budget would be 87.000-89.000 euros which is maybe around $100.000. I tried to get in contact with some real estate agencies and they keep telling me that I need over $300.000 (all 3 told me the same in 3 different areas of Canada: BC, AB and ON) and to use the money I get to put down the 35% I need to get a big fat mortgage as a non resident. I don't want to because I don't want a mortgage and it would be a house that I use maybe 2 months per year, you know, for my holidays. It would be a holiday home. Or something like that. I just want to get that money and buy a place, that's it. No banks. I was looking for places in ON, like Hamilton or other towns. Do you think it's possible to find a place for let's say $95.000 somewhere there? Thank you