Things to Consider:
Will you rent or purchase?
Most newcomers will rent for some period of time and might not be able to afford to buy a house for a number of years.
Think of Your Budget
Look at the money you will be bringing with you and at your salary (if know what this will be). This will help you decide whether you wish to rent or buy. Remember you will need first and last month’s rent and some money for temporary housing.
- Average house price: $449,837
- Average one-bedroom apartment rental: $717
- Average two-bedroom apartment rental: $865
- Average three-bedroom apartment rental: $1,375
How Much Does it Cost to Buy a Home?
You can contact Community Development Council Durham for advice on some temporary housing.
You might have to get a weekly rental or short term rental by looking at some of the rental websites.
Gather Information Before You Leave Your Home Country
Remember to bring any bank records or information you have and the bill of sale of any house or property you have recently sold. This will allow banks and realtors to know where your money has come from.
Familiarize Yourself with Canadian Housing Terms
Canada Mortgage and Housing Corporation (CMHC) is Canada’s national housing agency. Established as a government-owned corporation in 1946 to address Canada’s post-war housing shortage, the agency has grown into a major national institution. CMHC is Canada’s premier provider of mortgage loan insurance, mortgage-backed securities, housing policy and programs, and housing research. They have many resources for newcomers: