What do you need to consider when moving between provinces?
If you are planning an inter-provincial move, here is what you need to know:
Moving within Canada to neighbouring provinces has become unbelievably popular. This is mainly due to housing shortage or high costs of living in certain areas of Canada and the general population looking to secure Real Estate or opportunity in less expensive provinces. Alberta has been rated the most popular province to move in all of Canada!
Here are some things to consider?
Is this purchase meant to buy an owner-occupied home?
If so, we will need to ensure that you are relocating with work, that you can work remotely with your employer or that you have new employment lined up. The banks will need to ensure that if moving away from your current city that this will not leave you without employment or income to pay for your new mortgage.
Is this purchase meant to secure Real Estate in Canada as an investment?
If so, we need a minimum of 20% down payment
Make sure that you have enough savings to cover moving cost, closing costs and other miscellaneous costs.
