VoyForums Notice -- Quick Contributions:
Donate $10 to the Red Cross: Text the word REDCROSS to 90999
Donate $10 to the Salvation Army: Text the word STORM to 80888
* The charge will appear on your cellphone bill.
Next Thread |
Previous Thread |
Next Message |
Date Posted:11:18:00 06/20/08 Fri
To Buy or To Rent
When you first arrive in Canada, you will probably be living in a temporary home. You will soon be looking for a more permanent place to live. Canada has many different types of housing and a wide range of prices.
Finding the right place will take some time and effort. Your first decision will be whether
to rent a house or an apartment, or to buy a house.
Whether you rent or buy will depend on your personal finances and whether you already
have a job in Canada. Most newcomers decide they should first rent a house or apartment. This gives them more time to save money to buy a house and to decide where they want to live.
If you want to buy a house, unless you can pay the full price, you will need to get a longterm
loan called a mortgage. Mortgage loans are provided by banks and other financial institutions.
They decide whether the borrower has enough income, more assets than debts, and a good credit rating.
Most will ask you to pay at least five percent of the cost of the house from your own money.