The American Greenback and the Canadian Loonie have been tangoing around parity as of recent. And as a result of the strengthening Canadian dollar, Canadians are not only crossing the border to buy clothes and electronics, but are also buying residential real estate.
How much American real estate are Canadians buying do you ask? An article by the Financial Post by Mark Kennedy says that that number is $19.8 billion, according to a recent study by the National Association of Realtors. Canadians account for almost a quarter of the international sales that surpass even China and Mexico combined.
Most Canadians usually purchase property south of the border for investment, retirement and vacation purposes. A guest post from Farhaneh Haque, TD Canada Trust's Director of Mortgage Advice outlines the essentials to making this purchase a reality. Read below for a snippit.
The dream of owning a vacation property can be vivid at this time of year, as Canadians look south of the border to warmer climates and cooler real estate markets that seem so much more affordable than in years past.
If you’re serious about finding a landing pad in a sunny setting one day, start by weighing these basic financial and lifestyle considerations in owning real estate in the U.S.
Know what you’re looking forClick here to read more.
There’s more than one way to own a slice of the good life, so do your homework and consider all the alternatives: