Should I buy or rent a home in Canada?
If you have not spent a lot of time in Canada, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision...
"Buying a home in Canada can be a great long-term investment, especially if you plan to live in the same city for an extended period of time. With the added benefit of being able to build equity in your home, you will also be able to take advantage of tax breaks associated with homeownership. On the other hand, if you plan to move or your income sources are not consistent, renting may be a better short-term option. Additionally, renting can provide more flexibility and convenience since most leases are shorter than mortgages. Ultimately, it is important to assess your financial situation and lifestyle to determine what works best for you," explained one expat living in Canada.
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SJB GlobalSJB-Global is a top-rated financial advisory firm specializing in expat financial advice worldwide, offering retirement planning & tax-efficient solutions with a regressive fee model. Our clients benefit from their country’s most favorable tax environment by utilizing the efficient investment vehicles we offer. Our commitment to quality service is reflected in our stellar reviews, with over 300 testimonials boasting 95% five-star ratings.
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Click connect to have our partner contact you via e-mail and/or phone.
Other Questions:
- What do I need to know before moving to Canada?
- How do I find a place to live in Canada?
- What is a typical expat home or apartment like in Canada?
- What is the average cost of housing in Canada?
- Should I buy or rent a home in Canada?
- What should I pack when moving to Canada?
- What cultural faux pas should I try to avoid making in Canada?
- Why do people move to Canada?
- What are healthcare services like in Canada?
- What are medical services in Canada like?
- What are typical rents in Canada?
- What appliances are typically included in a rental?
Should I buy or rent a home in Canada?
If you live in Canada, newcomers to Canada would love to hear your answer to this question.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.