International students buying property in Toronto and Oshawa
Foreigners or international students buying property
Few gifts increase in value year after year! The gift of a home in Toronto , Oshawa or Missisauga can be one of them. Increasingly, parents recognize the value of investing in real estate for their children over anything else. In most cases, these children are college or university students. It’s the biggest blessing they could get from their parents. The young adults are spared the hassle of paying rent or staying in substandard accommodation such as basement apartments or paying exorbitant rent for small one bedrooms in Greater Toronto Area, while the parents enjoy peace of mind knowing that their children are secure, both financially and emotionally.
About 10% of Canadians consider buying a home for their children. Nowhere is this more apparent than in Toronto.
These days, children enter the adult world sooner than we did. The affluent choose to study in foreign universities to be better prepared for a fiercely competitive international world.
Children face adult responsibilities even before they have graduated. Most tend to study outside their country of residence which requires them to live and fend on their own. At such times, a home of their own addresses half the challenges.
With a major part of their lifestyle looked after, they can settle in faster to focus more on education, rather than get weighed down by rental expenses and inconveniences.
With this trend of increasingly on the rise, developers in Toronto and Scarborough real estate market have taken the initiative to build condos that are tailor-made for students and those starting out in life.
These properties are fitted with the best amenities and located conveniently for commuting ease.
Affluent non-resident foreign students end up paying almost three times in tuition fees the amount than local Canadian residents.
These young adults start out by spending four to six years studying in Canada. Then they move on to enter the work force on a work permit and go on to become Canadian residents if they so desire.
The Canadian real estate market has been rated one of the best in the world. There are no restrictions on international students buying property in Canada.
It makes a good decision to consider property investment and prepare children for a secure, financially sound future by planning well in advance.
Call Taufiq Alom for helps to parents of international students buy property in Toronto, Scarborough or Oshawa or near by areas.
It is a fairly easy process. There are two options that we can suggest to you:
You can either buy a property right at the outset and put it out on rent. International buyers can get approved with 35% or more down payment subject to their income qualification requirements. We can put you in touch with top banks for a quick approval. A loan of the balance amount can be secured from top banks at very low interest rates. This loan amount along with other property expenses will be serviced from the rental income. This allows investors to avoid digging in to their pockets for mortgage payments, condo fees, taxes etc. Property can be easily managed by professional property management companies or through our experience property management company.
the other option is to buy a pre-construction condo in Durham or Scarborough Toronto from a reputed builder. Some of these projects are expected to reach completion in 2 to 3 years. This way, parents can buy property on easy instalments. Most builders allow up to one year for a 20% down payment. The balance can be paid upon completion a few years down the line. Or in other words, you will have 3 to 4 years to pay the full amount, if you choose to buy in all cash.
Is there any better gift for your child or yourself?
International students buying property in Canada, contact me at 647 239 2083 for info please text me before the best options are taken.