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The process of lending to a new home or condominium in Canada consists of several important steps:

• selection of a lender (Canadian bank or private lender),

• lender’s assessment of your financial condition,

• his prior consent and choice of loan conditions.

Step 1 – Choosing a Lender – to get a mortgage in Canada, for residents and non-residents

It can be any bank or mortgage broker. In many banks, in addition to employees in branches, there are also “mobile” agents. It is better if the buyer has a bank in which he is constantly serviced, although this does not matter for a mortgage broker. He will be able to find an offer that will have a low interest rate, acceptable conditions for the buyer. In most cases, banks pay for the work of a mortgage broker. He does analytics, but at the same time we do minimal work.

Step 2 – Obtaining Prior Mortgage Permission

Prior authorization should be obtained before the search for residential real estate is completed. The lender will look at how much you get for your work, how much you can pay as a down payment. He will be interested in whether you pay taxes, what is your credit history. If you are a citizen of another state, then the relevant documents will be needed from the country where you previously lived.

A mortgage permit is issued in writing. Its validity is 90-120 days. it spells out guarantees on interest rates. You need to understand that permission is not a guarantee that the lender will give you money to buy a house. But he needs to know which house you are buying and whether you can pay for it. Often, lenders require real estate appraisal, which is carried out by independent experts. Permission is more necessary for you. It will help you understand what you can afford to buy.

Step 3 – Choosing a Mortgage Terms

As soon as the right to a mortgage is obtained, it will be necessary to understand what its term, depreciation, and also the rate, its type will be. Read our article further and you will find out what these terms mean. It is better to know a lot to be prepared for everything that will happen in the near future. Some conditions can be changed after the purchase of housing, and you will receive documents on the property.

Loan terms

This is the time for which the bank will save you money (6 months, 1 year, 2 years, … up to 5 years) and you manage to pay only part of the debt. Therefore, when the deadline expires, you agree on a new one with your bank or you can switch to another bank for better conditions. You can also pay the remaining amount in full. Choosing a mortgage term is not very simple. It requires awareness of market trends, as well as the correct assessment of the level of risk that you are willing to accept. For example, you chose a 6-month term with 2.8% compared to a 5-year 3.1%, and interest rates rose sharply after a couple of months.

Depreciation period

The determination of such a period affects the amount of payment that will need to be paid each month. It also affects the value of residential real estate, which you can afford. Only some buyers are able to fully repay the mortgage for six months or several years, because every month you have to pay a lot of money. To pay less, lenders set a long-term depreciation period, usually 2.5-3 decades. The longer this period, the less you will have to pay. But you need to know that you will pay a lot of interest. Moreover, this period can be changed if your financial conditions have changed.

Payments

The payment, which is paid every month, includes part of the principal amount and interest payments. Each payment makes your debt less. Next month you will have to pay the same amount, but the main debt will be less. The bank may allow a shorter period to pay the entire mortgage by setting a different payment mode, for example, 2 times a month. You can pay a large amount. What to do in a particular case? It is better to ask your creditor such a question.

Interest rate

This is the amount you have to pay for using borrowed money. The rate may vary, it depends on the economic situation in the country. The rate may be fixed or variable. The amount of bets in Canada, as a rule, is from 2.8 to 4%.

The fixed rate does not change throughout the mortgage. It is better to choose such a rate if it is known that the economy can affect its growth. Then there will be no risk that in the future it will be necessary to pay more. Another case – a fixed rate due to the influence of the economy may decrease, but you will have to pay at the rate that was set when you received the mortgage. Then it will be unprofitable for you.

A changing rate is a rate that changes in accordance with changes that affect the bank’s interest rate. Well, if it becomes lower, then you will automatically pay less. This mortgage option is beneficial if interest rates are expected to decline in the future. Often, lenders make sure that the borrower moves from a changing to a fixed rate. But it is impossible to go back.

One of the reasons why our compatriots, as well as immigrants from other countries are attracted to real estate in Canada, is the possibility of obtaining a mortgage at a local bank. Canadian financial institutions favor potential non-resident borrowers and are willing to develop mortgage lending programs for them.

You can apply for a mortgage to the bank yourself, start cooperation with mortgage brokers who can offer the best loan conditions, and also seek help from specialized centers that offer assistance to new immigrants and non-residents.

A distinctive feature of all banks in Canada – an individual approach to the borrower. Your mortgage application will be studied very carefully. But, as a rule, non-residents are still given a mortgage, but only in the amount of 60-65% of the initial value of the object. That is, you should have about 35% of cash on hand to pay for the property.

Mortgages: Standard Terms

Mortgages in Canada are currently issued under the following conditions:

• interest rates – from 2.1 to 2.8% per annum;

• maximum loan term – 25 years;

• loan amount for non-residents – up to 65%, depending on the banking institution.

It is also worth noting that special mortgage rates are set for VIP clients and clients with a clean, spotless credit history. Therefore, it makes sense to become a client of a specialized company or broker, who can also count on favorable conditions for mortgage lending.

Advantages of Canadian Mortgages

Attractive loan conditions. Agree, an interest rate of 2-3% is much more profitable than a mortgage in banks of many other countries.

Real estate abroad. If you want to profitably invest money or live in Canada, it is more convenient to use your own, rather than rental property. In the end, an apartment abroad has not bothered anyone. Effective cash management. Even despite the fluctuations of the economy in the country, the real estate market demonstrates its stability and stability, which in the future will provide you with additional income.

Buying real estate is most often not only a solution to the housing problem, but also the question of the effectiveness of investing money. In other words, we all want to buy real estate so that later we do not have problems with its implementation, and moreover, to sell our house as profitably as possible.

In this article, I wanted to analyze trends in the real estate market that indicate types of housing that in the very near future may turn out to be less liquid. The analysis below reflects only the facts, and my personal observations in working with real estate. According to this description, a certain part of the housing will not fall into the category of the most sold. If this type of real estate still suits you, or you have a different opinion about its prospects, you certainly have the right to ignore further information. The proposed point of view may also differ from the position of other real estate professionals.

The degree of ability of real estate to be implemented at any time quickly and profitably, in the professional language of realtors is called “resale ability”.

Having bought housing, in 99 cases out of 100, the consumer, sooner or later, is faced with the need to sell it. The reasons are usually the most mundane. This may be a change of work, an increase or decrease in the number of family members, a change of place of residence, and so on. In addition, there is a fairly large group of clients who, when choosing a property, initially warns the agent that the purchased property is temporary. They obviously know that the acquired property is not a dream home. There is still not enough money for the dream, and in order to stop the loss of money when renting, they have to start with the purchase of starting housing. The position, by the way, is completely understandable and in my opinion is absolutely correct.

Whatever it was, in all these situations it turns out to be more important to choose not so much what you like more, but rather a more realized product in the future.

So, today’s trends in the development of modern housing clearly indicate a number of areas.

What is offered on the real estate market

1. Construction of houses (detached) is increasingly developing in the direction of two-story buildings. If you visit the offices of construction companies and see what is offered for sale today, you will certainly see confirmation of these words. Real estate that has the concept of building a floor with a minimum number of floor level differences is popular and more in demand today. Obviously, this trend for medium-cost housing will continue for a long time and there is a rather simple explanation for this. In an architectural sense, the direct construction of a floor is the most economical type of floor planning. Older construction styles include houses built by type: “split level”, “2-3 level”, one and a half floor houses, and so on. The named multi-level houses due to a more non-standard cut, including the mentioned differences in the plane of the floor, often lose due to this part of the usable area. For example, in such houses you may find that part of the basement is partially, and sometimes even completely absent.

Very popular 20-30 years ago, and indeed, today bungalow, in architectural terms, was designed in a slightly different way. In view of the fact that there is no second floor of the building, such a property usually has a large area of ​​the main level, since all the premises of the house must fit in the plane of the ground and basement floors. This type of structure is as if spread over the territory of the land plot. This explains that bungalow houses traditionally have a larger plot of land. As a rule, the price level for such houses is quite high, since most of them are located in long-formed, very green and therefore not cheap areas.

Many of the buyers often ask: “Is it justified to buy a bungalow?” There is nothing wrong with such a purchase. It is worth considering that in a two-story house, taking into account the basement, three floors are formed in total, while in the “bungalow” there will be only two. Obviously, with the approximate equality of prices, the loss of the whole floor of the building in the case of the “bungalow” can have a significant impact on its implementation. Is such an assumption always true? Of course not. I have seen a bungalow worth more than three million dollars. Such structures are located in the most prestigious areas of Toronto, and the construction style is unlikely to affect their price in any way. In addition, the living area of ​​such houses as you probably guess, especially does not require a second floor.

There is another argument. For example, it is of great importance if the bungalow has a living, underground space, equipped with a separate exit, several bedrooms, a kitchen, and a bathroom. Such real estate is profitable, that is, “income property” and the demand for it is likely to remain stable. At least there will always be people who are ready to purchase such a house and, accordingly, facilitate their payments at the expense of the residents. Unfortunately, many construction companies are still focused on the construction of buildings without a separate entrance to the basement. This, in turn, encourages the buyer to purchase older housing in which such an option is present. More progressive construction companies, however, have already begun to respond to such consumer demands. It is reasonable to assume that trends in this direction will continue to develop actively.

Garage is good

The next, of course, an important factor affecting the sale of real estate is the presence of a garage, as well as the number of parking spaces in it. Unfortunately, in houses built 30-40 years ago, a garage was not always foreseen. Nevertheless, current market trends confidently indicate that real estate that does not have a garage space, today is becoming less and less liquid. Not too easy is the task of selling the house and the presence of a carport (carport). In this regard, there is no doubt that subsequent changes in real estate will clearly develop in the direction of increasing the area allocated for car parking. Already today, the sales dynamics are such that houses worth, for example, $ 800,000 and having a garage for only one car are in somewhat less demand. Such real estate is sold more sluggishly, and noticeably longer in time. Of course, the same trends apply to more expensive homes. Today’s consumer, interested in buying a house worth more than $ 1,000,000, increasingly wants to see a house with a garage for at least two, and if possible three cars. I think I will not be mistaken if I assume that new homes worth more than 1,000,000 – 2,000,000 dollars or more will be built in the coming years, taking into account parking at least three cars in the garage.

From the above, the following recommendation is pretty obvious. If you buy a home with the task of selling it in the next 3-5 years, then buying a property that does not have a garage space should be approached very, very carefully. At the same time, buying a detached house, try to purchase it, if possible, with a garage for two cars.

The same trends are indicated in the apartment sales market. Sometimes, the low cost of the apartment is quite simply explained by the lack of parking space. It is unlikely that one should rejoice at the cheapness of such a purchase. It is possible that in the future such an apartment will have to be sold just as cheaply. At the same time, newly built multi-apartment buildings increasingly provide for several parking spaces for each apartment, and not one as before.

There is a considerable category of buyers for whom the area of ​​the house is always and only in the first place. There are often situations when you can find real estate in one of the chic areas, and the budget does not allow such a purchase. The only way out is to sacrifice something as a home for the much-desired “location”. Refusal from the garage, in my opinion, should still be one of the last in the list of possible victims.

Let’s talk a little about the so-called amenities. Most of us in our former country were not spoiled by the many toilets and bathrooms. In this regard, for many, in the beginning, their quantity is not so important. “Two or three bathrooms, what’s the difference? It’s better than one anyway.” However, trends in consumer demand are not the same. People increasingly want to buy homes with great amenities. For example, it is clear that the presence of an additional bathroom is a serious plus for a family in which 4-5 or more people live. The problem with older houses is that they were built at the rate of one maximum of two bathrooms. Many of the owners of such real estate understand that this is a lack of a home, but there is often simply no technical ability to attach a second or even a third sanitary point. This, for the most part, affects almost all houses of much earlier construction. According to today’s consumer views on the acquired property, it is becoming increasingly apparent that a house with only one bathroom will be difficult to sell. You can see the consequence of the reaction to such a change in demand in the construction of a new generation. Urban-type houses (town houses), built even 5-8 years ago and costing only 580,000-990,000 dollars, were already built with two, three bathrooms. In more expensive homes, the number of bathrooms has long reached 4-5, or more. The same situation applies to apartments. The modern apartment is increasingly being built with two full bathrooms, rather than one as before.

A few words about the number of bedrooms. Sometimes, in search of cheaper housing, the buyer is ready to agree to a property in which the number of bedrooms is less than three. To a greater extent this applies to the “town house”, since detached and “detached” houses are rarely built on this principle. In my opinion, even in the case of a noticeable gain in price, such a choice is still hardly justified.

Today, the availability of three bedrooms is a strict standard for the construction of Canadian housing. Moreover, trends indicate that consumers are increasingly thinking about the possibility of having more rooms, including bedrooms. In this regard, the implementation of the above “town house” with only 2 rooms can be a noticeably bigger problem. Obviously, today to sell a detached house with a similar number of bedrooms will be even more difficult.

Basement at home

A few words about the basement of the building. Some people prefer to purchase housing in a relatively new area. For them, homes between the ages of 3-5 years are an ideal goal to buy. There is only one drawback of such housing. Most of these houses have unfinished, that is, an unfinished basement.

Indeed, many people, having bought a new or relatively new house, do not consider it necessary, or are not able to finance the first time to finish basement basement. However, today’s market shows that buyers are increasingly interested in buying real estate with an already completed underground space. Finding an explanation for this trend is not difficult. More and more people are using “basement” as a home office, as a source of additional income when renting it, or simply as additional housing space. It is also worth saying that buying a property with a finished entrance to the “basement” will be an even more profitable purchase and at the same time probably a lesser problem in its implementation.

Older houses were built 40-50 years ago according to principles that suggested the use of the underground floor for technical purposes only. Turning such a space into a living space is often almost impossible. In response to consumer demand, builders are building modern homes in such a way as to leave the owner the opportunity, if desired, to turn this area into a useful one. That is why the level of the ceiling height of the basement is becoming higher every year and in modern houses it already corresponds to the height of the first floor. Such changes make it possible to think that in the coming years a greater number of construction companies will build houses with an originally completed underground floor.

The age of the building. Of course, the factor of the age of real estate is important. If you plan to sell real estate profitably in a short time, try to purchase housing that was built not so long ago. The formula is pretty simple. If you buy a thirty-year-old house and live in it for 10 years, then you will have to sell a forty-year-old house accordingly. If you bought a house that is only 3 years old, then after living in it, for example, 5 years, you will only sell an eight-year-old house. Agree that the difference is quite significant. In addition, the increase in prices for a less old house is likely to be higher. The age of the building affects the buyer not only morally. It’s no secret that the older the building, the more often you will have to face repair problems. The age of the house is likely to affect even if the owners maintain it in excellent condition. I had to see thirty-year-old houses, the condition of which was almost perfect, that is, what we call the “move-in condition” in Canada. Nevertheless, the decoration style of such structures, the type of materials used, construction technologies, of course, significantly differ from analogues of modern construction.

I repeat this time that for each rule there are exceptions. I have worked with real estate built more than 40-50 years ago. Based on the place in which it is located, I am sure that it will be possible to realize it both profitably and quickly.

Speaking of the old style of decoration, I meant a clean, neat house, but not updated with modern materials from the outside and from the inside. Nevertheless, and you probably also met quite old houses, completely remodeled according to the latest achievements in construction and architectural design. Of course, the age of the house in this case loses its significance. Moreover, such a property is very, very expensive, as it forms the ideal combination for many – “a new house – in the old district”.

However, as always there is a flip side to the coin. Having bought a house and planning to sell it soon, be prudent in matters of investing money in its reconstruction. Quite often, money unreasonably invested in home improvement is returned at a selling price of only 60-65%.

Maintenance fee. An important factor when choosing a condo apartment, townhouse is the amount of payment for maintenance services by the building – maintenance monthly fee. According to statistics, the average monthly fee is increasing by about 5% per year. This is most often explained by the usual depreciation of the structure. Simply put, the older the building, the more money is required to maintain it.

A very typical, in my opinion, buyer’s mistake is that in the pursuit of cheap real estate, we often do not attach much importance to the sizes of the monthly fee. Suppose you managed to buy a condominium in which the monthly payment for the services of the corporation is $ 400.00 per month. According to a 5% annual increase in the cost of maintaining the building, it is very possible that after 5 years the “condo fee” will be already 500.00 dollars. It is not difficult to guess that at the time of sale, such a property may not be too attractive for a potential buyer. Now you understand why such condo housing is often sold inexpensively. The size of the “monthly fee” is not in the hands of the seller and all that remains for him to do is to regulate the price of the property itself. By the way, I met houses of a city type (condo townhouse), the price of which gradually decreases as the cost of the services of the service company increases. As you can see, the sale of the condo is somewhat different from other types of housing. It is necessary to have time to transfer the baton to another, or to say without embellishment during the time to get rid of such real estate.

The size of the land

I would like to criticize from the heart the current tendency to reduce the area of ​​land adjacent to the modern Canadian house. If 20-30 years ago the average land lot was approximately 50 x 120 feet – 6000 SF, in the next 10 years – approximately 40 x 110 feet – then nowadays it is increasingly common to see plots measuring only 30 x 90 feet. In my opinion, this trend is one of the most erroneous and thoughtless in the development of Canadian real estate. The fee for unreason, by the way, was not long in coming.

The backyard of a modern house can hardly be called a yard in the sense in which we imagine it. Rather, it more closely resembles a barbeque area surrounded by a wooden fence. If you look from above, the sight will be even more dull. A picture of a large number of blocked microcells will open to the eye. It looks pretty ugly, if not sad. At least, the soul of many of our compatriots categorically does not accept a similar trend in real estate. I join and believe that in Canada with such a large amount of undeveloped land to erect such structures should be a shame. In a desire to make real estate accessible to the average Canadian, builders are squeezing the size of the house and, accordingly, the land to the limit. Everything is clear with this. Nevertheless, as always perverted logic leads to more than dubious actions. Such tactics led to the results when the houses are located so far from each other that it seems that you need to go between them one at a time or, in extreme cases, together, but hugging tightly. Accordingly, a question arises. How much then is it justifiable to call such houses detached? As a small recommendation. When buying “detached” houses, try, whenever possible, to choose a property in which the land is at least 40 x 110 feet.

A few words about real estate with the so-called “premium lot”, that is, a more privileged plot. Of course, such a house will always be valued higher, especially if we talk about land plots that do not communicate with the neighbors (ravine lot). The only question is what the cost of buying such a site, and how much such expenses are justified.

Area of ​​the house

Even relatively expensive houses built 30-40 years ago, in the total mass had only an area of ​​1,700 – 2,500 square feet. At that time, such an area was perceived as quite large, and not many could afford real estate of a similar size. A modern home priced between $ 900,000 and $ 1,500,000 and an area of ​​between 2,500 and 3,500 square feet is no longer a rarity. Times are changing, and most people are striving for more spacious housing, which is understandable, because we all want to have more space.

Perhaps that is why the new small-sized construction is not very popular. In the struggle to reduce the cost of housing, many builders are building real estate with a living space of literally minimal size. You have probably met new town houses, sometimes even “detached” houses, where the area of ​​the smaller of the bedrooms makes it difficult to put a bed. The desire to use the land more rationally also led to the construction of three-story housing. Surely you met a “townhouse” and even individual houses narrowly elongated upwards. Given the basement in this housing 4 floors are formed. As a result, the real estate turns out to be almost a continuous staircase or a kind of family gym complex.

Due to the fact that the house is narrow, each floor has a rather small area. Accordingly, the basement area is such that, given the equipment housed in it for the maintenance of the house and laundry, there is no other free space left in it. It turns out that nominally “basement” exists, although in reality it actually is not. A few recommendations regarding the acquired property. Try to refrain from buying a home that is less than 2,000 square feet. Options for acquiring a one-bedroom apartment (1 bedroom apartment) are better to purchase at least 600 SF. If we talk about “Condo Townhouse”, it is advisable to choose such a property with an area of ​​at least 1,500 square feet. Twin houses (semidetached) should be purchased with a size starting from 1600 – 1700 square meters. ft. Finally, detached houses are justifiable to buy with an area starting at least 1900-2000 square feet. I understand that the choice of real estate always has to be linked to the budget. Nevertheless, buying a home with too little space, in my opinion, is one of those unfortunate compromises that sooner or later will have to be paid for.

By and large, what is real estate? Land + house. If we discard everything secondary, then what is our basic requirement for both? Most likely size, right?

About the height of the ceilings

You probably also noticed that the level of ceilings is becoming higher and higher in newly built houses. In the latest examples of modern real estate, the height of the main floor reaches, and often even exceeds the mark of 3.0 meters. I think it is safe to say that such a trend will certainly develop in the future and, probably, housing with low ceilings will be built less and less.

Here, by and large, and all about those characteristics that you should pay attention to when buying a property.

According to the above recommendations, it turns out that in order to avoid problems with the sale of real estate, you need to purchase relatively new housing, a considerable area, in a good area, and, therefore, is not cheap. See how simple it is!

And if without jokes, then we all certainly have to fit into our own budget. The consumer’s choice is only in how to manage this budget more carefully.

Accordingly, the buyer has to decide what to prefer. The choice is usually the following: not the best detached house, a good “detached” house, or an excellent town house. As you might imagine, many people still have the desire to purchase a “detached” house, however inferior it may turn out to be. “Even if it’s very small, but without neighbors behind the wall.” This position, of course, has a right to exist.

A question that is often asked by people buying property for a relatively short time. “After what minimum period of time we can realize the purchased property without losing it during its sale. It is possible to sell a house more securely and with a probable profit after 2-3 years, which is usually the minimum period of residence in it.

Many, while still at the stage of acquiring real estate, are too concerned about the issue of its further implementation.

The issue of buying a home has always been, is and will be a very emotional process, where the choice is often subjective, as it depends on the personal taste and personal goals of each individual person. If the house you bought doesn’t fall into the category of an ideal house, but you and your family like it, then take calmly all the recommendations.

In the end, probably, the main thing is that you love your house as it is.

What Do Investors Investing in Vancouver Real Estate Need to Know?

In Vancouver, they decided to deal with the lack of housing for rent. And now, property owners are required to either pay an annual tax on empty houses, or pay a fine of CAD 10,000 for each day of downtime.

Everything has a flip side. As you probably know, Canada in general and Vancouver in particular are an attractive investment destination. Including residential real estate, which is growing in price.

According to available data, at least 10,000 houses are idle in Vancouver and as many are used for a small part of their capabilities.

Vancouver is one of the most attractive cities for living in the world. But at the same time experiencing a serious shortage of housing for rent. A huge number of homeowners, many of whom are foreign, in particular Chinese investors, are sitting on their investments and not letting anyone in them.

WHOM AND WHERE TO LIVE WELL IN CANADA ?!

It is not surprising that sometimes there are multi-storey buildings in which only a few windows are lit or in general the building is empty.

To fight this, Vancouver authorities are introducing a new law on January 1, 2017. According to his requirements, owners of empty real estate will pay 1 percent of the value of their property in the form of tax. If you consider that objects worth 1 million are not uncommon, then the tax will be, for example, 10,000 Canadian dollars. This is a one-time annual contribution.

Those who live in this property or constantly rent out are exempted from it. There is no need to occupy the facility year-round – authorities took into account that many Vancouver residents leave their homes for several months to ski.

Even those who deliberately declared their property as an investment, and not their main place of residence, are allowed to rent it for at least 6 months a year for a period of at least 30 days. But it is necessary to declare the object as its own housing or a secondary object in advance, otherwise the tax will be written off automatically.

For late payment of tax – an additional penalty of 5%.

Real estate scandal in Canada: how do low-income people buy luxury housing?

In order not to be tempted to simply lie and report that you live in a particular real estate yourself or settled non-existent tenants, another penalty is introduced. With maximum misconduct, the offender is able to bring the penalty rate to 10,000 Canadian dollars per day, for the entire duration of the violation.

In other words, if at the beginning of the year you reported that someone lives in the house, but no one appeared and didn’t plan for six months, then the fine will be 183 days x 10,000 = $ 1,830,000.

For such an amount, you really have to think: pay a fine of “only” Canadian $ 10,000 per day, or pay a tax or run someone to stand.

According to estimates by the Vancouver authorities, the number of vacant space will increase from 0.6% to 3.5%, which will provide the necessary freedom for residents and will allow at least a slight reduction in rental prices.

What does this mean for an investor?

This situation tells us about two things: firstly, the authorities are looking for new ways to activate investors and receive constant income from them to maintain their own economy; and secondly, greed does not lead to good.

If you agree with the first paragraph, since such additional fees are introduced, unfortunately, everywhere, not only in Canada, then with the second a little more.

If investors didn’t just sit on their assets and use them for their intended purpose, then the authorities would have less chance to show increased attention to them. An asset, as though it would not be desirable to reduce expenses on it, is created for certain purposes. This gold is easy to store and do nothing with it – it is, in a sense, created for this. Real estate is usually created for life or business. Therefore, when not in use, this raises questions.

Especially with the authorities, whom residents are indignantly addressing.

Family sponsorship in Canada – a real opportunity for immigration in Canada

If you acquire a certain asset for yourself, evaluate it in terms of everyday use: will you live in a purchased property? Will your patent be profitable through royalties and the development of new technologies? Will your money work for the economy? If all the answers are “no”, then get ready that over time the authorities will come and look into your wallet.

And it does not depend on the country. It depends on the economic situation.

It is clear that investing in something incomprehensible in times of uncertainty is dangerous. Therefore, it is so important that you understand both the market and the current situation, and can predict your next and other steps. Including the authorities.

And in order to mitigate the negative effects, create a system for diversifying assets: bank accounts, property under management, gold and companies. In different countries, on different continents.

If we take Vancouver, we see that a tax of 10,000 Canadian dollars per year for elite real estate per year does not seem so terrible, compared with hundreds of thousands of fines. And then, if you still do not want to let anyone in as tenants. It is clear that tenants are certain risks. On the other hand, they allow you to save on excess tax, plus make money on rent. Which seems like a reasonable deal in a developed country like Canada.

Surely, many people are interested in what it feels like to live in another country, because there are completely different laws, mentality and nuances in living. We decided to tell you a little, and took Vancouver with its terms as an example.

What is the difference in attitude to real estate in Vancouver? The main goal of the Vancouver administration is to make this city the cleanest and greenest, and they planned to fulfill this condition until 2020. That is why the city lives off renewable energy sources, and also refuses fossil fuels and reduces waste production. In a plan, in a couple of years, to make sure that every local resident lives within walking distance from the green massif, so young trees are now planted in the city. By the way, an interesting fact, other states sometimes give trees to Vancouver. For example, the country of the rising sun – Japan gave the city sakura seedlings, now they bloom and adorn Vancouver.

Also, this city is comfortable enough for living – this is the result of a special approach to the organization of urban systems, for example, this applies to construction, public transport and its infrastructure. The transport there is at the highest level, it is quite convenient, it works on schedule and is very clean. You can seem on the most famous ground metro, which is fully automated and does not need to find a driver for work. Due to the fact that the population of the city is only about 650 people, there are no problems that exist in large cities.

It is quite safe and spacious here. The city administration takes care of the residents, this applies to a variety of small things, for example, there are bicycle and jogging tracks. Absolutely everything that is created for the townspeople is well thought out things – this applies to both functionality and appearance. It is interesting that in this city there are a huge number of people immigrating from different countries.

And now let’s move on to the most important thing – this is housing. The cost of houses in this city is in the TOP 10 of the most expensive real estate in the world. Buying a property in Vancouver can only be fairly wealthy people. As a rule, a house or an ordinary apartment there costs about twenty-three million rubles – the amount is quite rather big. Despite the fact that the cost of housing in Vancouver is high, there is still a great demand for it. Everything here is closely connected with the influx of wealthy buyers who hail from Hong Kong. By the way, immigrants from Canada are provided with a mortgage from the state. A mortgage can be obtained even if a person does not have a local credit history, but only on the basis of documentation from the bank of the country from which the immigrant arrived. This rule works if the down payment on the mortgage is at least thirty percent.

A subway in Vancouver called light is SkyTrain. Trains do not have drivers (drivers) in such a metro. They are controlled by dispatchers automatically.

There are 3 lines in total. In total, there are 47 stations.

Expo line – appeared several decades ago. Its construction was timed to coincide with the World Exhibition, held in 1986.

Millennium line – its opening took place in 2002.

Canada line, which appeared in 2009. This happened when the country was preparing for the 2010 Winter Olympics.

The metro includes the SkyBridge metro bridge. He started working in 1990. In 2005, it was considered a bridge, which is the longest cable-stayed structure for the metro.

The terminal station is shared, called Waterfront. It is located on the ocean. Expo line comes to Surrey. Millennium line – intersects with itself. The light metro offers access to Burnaby and New Westminster. Bridgeport – the station where the fork is located. One way – the road to the airport, the other – the road to the central part of Richmond. The subway passes mainly on land facilities. Under the ground there are only 2 sites.

How many people use the subway? The largest number of people was during the Olympics. Then every day more than 620 thousand people went down the subway, which happened for 17 days, while world sporting events were going on.

How does SkyTrain work

On working days, the metro starts operating at 5 a.m. The work of trains stops at 1 am. Trains approach the stations in about 2 minutes. When there are a lot of people, then waiting can take a longer time. In addition, waiting for a train can be great if it is night or a remote section of the metro.

How much does the passage build

The metro system is divided into 3 zones. The payment is different, its amount depends on the number of crossed borders between zonal areas. After 18:30, as well as on holidays and weekends, all trips are considered within 1 zone, regardless of how many stations the passenger traveled. Additional charges may apply, depending on the metro area.

Ticket price is divided into 2 types: adult and concession. The second category includes passengers aged 5–13 years, 14–19 years old with a GoCard card, people over the age of 65, people with disabilities and those who accompany them. Children under 5 years old use the metro for free. For an adult ticket you will have to pay approximately $ 2.75 in the range of 1 zone. A ticket can be bought at the terminals that are at the entrances to the subway. You can buy a travel card. Several types of travel are offered. The travel price for the trip is less.

Features

The peculiarity – there is no control system for passengers by their movement on tickets. There are no restrictive structures in the subway – there are no turnstiles. Occasionally tickets are checked in the subway, but not with all passengers. Checks are carried out by metro controllers. Due to the fact that there is no complete check of tickets, the Vancouver metro loses a lot of money, because many people do not pay at all. But the metro leadership believes that the cost of monitoring equipment, its installation will be very expensive – more expensive than the losses that people who use the metro without tickets cause. For movement without a ticket, the fine is $ 173.

Vancouver has Canada’s warmest winter. The air temperature is kept at 6-8 degrees, it often rains. Snow falls rarely and not for long (sometimes every few years). And yet, Vancouver is one of the winteriest cities in North America.

From December to March, the local mountains of Cypress, Grouse and Seymour are stormed by local skiers and snowboarders. And just a 2-hour drive – the world famous resort – Whistler and Blackcomb (Whistler and Blackcomb), which hosted the 2010 Olympic Games. In the east – no less popular Sun Peak (Sun Peak) and Big White (Big White). And on the border with America – Mount Baker (Baker), with routes at an altitude of 1.5 km. And that’s not all!

The city itself is also interesting. In December, Christmas markets, sales, Christmas trees, holiday concerts and light shows open. The hockey season is in full swing. And the restaurants are preparing a special menu for the gourmet festival Dine Out.

 Events and Holidays

Cultural:

Festival of Contemporary Art Push: January

Sports:

Ski season: from late November to mid April

Hockey season in Vancouver: from October to early April. In December, over the years, the Teddy Bear Toss charity match is hosted. All spectators on this day bring soft toys and throw a stadium after them on the first goal. Then they are collected and presented to children from needy families for Christmas

Swimming of the Polar Bears (Polar Bear Swim): January 1. A traditional swim for seasoned Vancouver residents in English Bay. Celebrated since 1920!

Delicious:

Dine out festival: last 2 weeks of January. A great opportunity to taste the tasting dishes of the best restaurants in the city at special prices

International Wine Festival: end of February – beginning of March. VanWineFest is Canada’s premier wine show and one of the best in North America. Each year, about 25 thousand connoisseurs try about 1.5 thousand wines from more than 15 countries

Other:

Capilano Canyon Lights: From late November to late January. The park is decorated with hundreds of thousands of lights and turned into a magical place

Festival of Light at the Van Dussen Festival of Light: December – early January

Santa Claus Parade: Sunday 1st December

Jack Poole Plaza Christmas Market: Mid-November to December 24th. European market where you can buy and try German, Austrian and local products. Live music, great food

Christmas Glow: from mid-November to early January

Ancient Christmas in the village of Burnaby: from late November to early January. A unique opportunity to return to time 100 years ago

Holidays:

Catholic Christmas: December 25th. Most museums and shops are closed. It is customary to celebrate at home with the family. 26 is also a day off – Boxing Day – time to give presents

New Year: January 1. On the evening of December 31, fireworks are organized throughout the city. The most beautiful and large – at Canada Place. A lot of people

Chinese New Year: end of January – beginning of February. Because about 30% of Vancouver’s population are ethnic Chinese, this holiday is celebrated on a special scale. The main colorful parade takes place in Chinatown, with traditional dragon dances and performances in national costumes Valentine’s Day at the Aquarium: February 14th. Program 19+

The winter months in Vancouver tend to be mild. This contributes to the fact that you can actively spend time outdoors. But it also happens that it becomes frosty, it starts to snow or it becomes too rainy. In this situation, children are rarely taken to the park, people try to be at home.

What to do when the street is cold or heavy rain, snow? In Vancouver, there are many attractions that will help brighten up the unpleasant weather picture.

1. Beach Volleyball

A game that is played in Vancouver during cold weather indoors. Many are surprised that you can play beach volleyball in the winter months. But it is in winter that you can try to have fun playing this amazing game. Vancouver residents are accustomed to winters, especially those when it rains constantly. Therefore, in this city you can find places where everything is equipped for playing beach volleyball. Even sand is imported into the premises so that the game is realistic, and players can feel themselves in the summer conditions.

2. Hot pools.

Vancouver residents prefer swimming in winter. The city has many pools with hot water, as well as saunas. These are indoor facilities. Here you can swim, as well as warm up, enjoy pleasant sensations, despite the bad weather on the street. The most visited pool is the Hillcrest Water Sports Center. You can choose another option.

3. The scientific world

Vancouver has many attractions that are interesting to see in the winter. An example is Science World. The world of science is a great solution for spending time with children. They can participate in various interactive games that include physical activity, dance, leave the balls. It is possible to take even very young children. You can become a member of the club to pay less, because a one-time visit is not cheap.

4. Games on the playground

Children can be taken to the indoor playgrounds. True, there are few of them in Vancouver. So, on the island of Granville is an adventure zone. It is located in a trading place. Therefore, while parents are busy shopping, children can have fun playing. You can visit the community center, there are several in Vancouver. In many such centers there is a Parent & Tot Gym option – it’s inexpensive. Here, children under the age of 10 can run, jump, leave the ball and much more. In such centers there is the opportunity to do physical education, which is held for adults, you can do fitness.

5. Hike to the trampoline park

Vancouver has a large trampoline park. This is good entertainment in the winter when there is no way to relax in nature. Here you can play volleyball, basketball, as well as visit the air park. This holiday destination is suitable for both children and adults.

6. Climbing

There are several climbing centers in Vancouver. They are covered, so they are great for entertainment in the winter season. If this is the first time you decide to go climbing, there are training courses for beginners. Courses are taught by a professional instructor. Training allows you to learn how to climb artificial rocks.

7. Visit Bloedel

This vacation spot allows you to visit a tropical park. A huge number of plants are grown here that love the warmth of the tropical zone. You can see many different birds. Both adults and children can attend Bloedel. At least 60 minutes of relaxation here is a reality. You can walk in the park and more time.

8. Visit to the space center

There is a space center in Vancouver. It has existed for many decades. This is a popular place among the inhabitants of the city. You can visit the planetarium, see planets, other objects of the solar system. Visitors are offered here guided tours. Those who want to take beautiful photos can be photographed in a real spacesuit. You can even hold a real meteorite in your hands, see the moonstone, which is more than 3.5 billion years old. You can head to GroundStation. Visitors are waiting for amazing shows on the subject of space, with scientific explanations on many interesting topics that relate to life on Mars.

9. Visit to the aquarium

In Vancouver, you can visit the large aquarium. There is a tropical zone where water representatives of the living world, collected from different countries, are represented. Here you can see sharks, moray eels, different fish. Every day diving shows are held in the aquarium; experts show how they feed sharks. These fish are fed 2 times a week.

There is even a real jungle. Here you can see various animals, including spiders, snakes. Visitors can visit different pavilions, which showcase the life of the sea in its pristine beauty. There is a hospital for animals. Visitors can participate in the treatment of animals themselves. You can also visit the modern cinema, where they show films with 4D effects.

10. Visit the house with adventure

In Vancouver, there are places of rest where you can plunge into the world of adventure. Different quests with various difficulty levels are prepared for visitors. There are even quests in which you can encounter fear. There are several tasks that can help you out of a closed room. Often visitors participate in such events as a team.

Conclusion

Vancouver has places to have fun in the winter months. Choose any type of vacation that you like and enjoy an interesting pastime with the whole family!

Vancouver is a city on the west coast of Canada. For many years it has been the best city to live. It is very beautiful and clean, located on the ocean. In Vancouver, there are forests and mountains, a stone jungle and happy people around. But this is all at first glance, like the coin in Vancouver has another side.

16 facts about Vancouver

The cheapest way to get from the airport to the city center by high-speed train for $ 6. All trains in the city are automated and there are no train drivers in any train.

To look at Vancouver from high, you just need to go up to the observation deck. If you don’t want to pay $ 17 for entry, you can go to a restaurant located one floor higher from the observation deck, buy tea (for $ 3-4) and enjoy the exact same panoramic view. The restaurant revolves around its axis so that you can sit at your table and look at the city from all sides.

The cleanest air in the city ensures the absence of production and there are no pipes from industrial factories.

The third part of the apartments looks at the ocean with incredibly breathtaking views. And in the taps, drinking water flows from a pristine mountain lake.

Public gardens have been set up in Vancouver. Where every resident can rent a garden on which to grow fresh vegetables. Something like flower beds.

Residents are so fond of greenery and clean air that even trees are planted on the roofs of houses. Just some kind of botanical garden.

In any store you can measure your pressure for free.

In Vancouver, there are many beautiful skyscrapers with large windows reflecting the sun and sky, there are no many advertising structures with advertisements, which makes the city light and light.

Track for cyclists with a total length of 1000 km. Every day, 67 thousand residents ride it on bicycles.

Up to $ 10,000 is returned to every resident who changes to an electric car.

Life expectancy is 80 years. Still clean air, mountain water, a lot of greenery.

As for fishing, they have very strict rules that cannot be violated. It is forbidden to fish one hour after sunset and one hour before dawn. You can fish on the Fraser River with only one fishing rod per fisherman, it is forbidden to catch nets. If you caught a white sturgeon, you are obliged to let it go; it cannot even be taken out of the water. You can only take a picture with him. The catch of perch from April 15 to June 5 is strictly prohibited. Trout can be caught no more than 4 pieces per fisherman. But at the same time, each fish should be no more than 50 cm.

The average cost of a hostel in the central regions is $ 40, but those that are nearby the drug addiction are about $ 20.

Cambie Hostel (20 dollars a place in a dormitory room). On the ground floor there is a huge, long bar. In addition to two-story beds in the room there is nothing more, no locker, no chairs. Things have nowhere to serve. But if you like fun without leaving your home, then such a hostel is for you.

Capilano Bridge is one of the attractions. Length 136 m, height 70 m.

Through the gorge, directly above the abyss there is a bridge, everyone can walk on it, but only in the summer, and feel the extreme on themselves.

Vancouver is the capital of the province of British Columbia, it is the 3rd most populated city in Canada, and it is the most diverse society in terms of national and racial characteristics in Canada, the city is more than 2.4 million people, 53% of the locals are foreigners who say in any language other than English.

When you meet or meet for the first time in Vancouver, people tell each other, not how you are doing, but where you came from. Locals are liberated people and very sociable, everyone is smiling.

Living Standards in Vancouver

Frankly, Vancouver is traditionally in the shadow of cities such as Toronto and Montreal, this also applies to the ranking of the best cities for life, since Toronto and Montreal are constantly in the top ten cities in the world, but Vancouver is in flight, but honestly, this is unfair, the standard of living in Vancouver is no different from Toronto and Montreal. Nevertheless, here, as in any other city in Canada, you can find homeless people and beggars on the streets, they are interesting in that they ask for money for specific needs, that is, they immediately provide reports, saying – I ask for money for food or other needs. Vancouver is Canada’s most expensive city; local prices are even higher than in Toronto.

Since 2015, Canada has been suffering from a fall in oil prices, the Canadian dollar has fallen by half against the US currency, if more recently the Canadian and American dollars at the exchange rate differed literally by a couple of cents, now to buy the American dollar you need to give 1 dollar Canadian and another 50 cents. This fact greatly influenced the standard of living, respectively, salaries fell by half, and this is very painful and very unusual for a developed Western country, and indeed a shameful thing that Canadians are not used to.

The advantages and disadvantages of living in Vancouver, the pros and cons

In Vancouver, it has always been customary to live on a minimum wage; such a Canadian social assistance system is built on the European model and is the exact opposite of the American one. If your family does not have enough money for something, then the state will give this money, but if you start to earn money normally, the state will actively begin to take this money in the form of a progressive tax rate with which you will share with a poorer population, or rather, the money will go to attract even more homeless people from other regions of Canada and even from the USA.

Vancouver has a very low crime rate, excellent transport infrastructure, the city is ideal for car owners, those who love urban transport. Given the fall of the Canadian dollar, life, as it were, became cheaper.

In Vancouver, like other cities in Canada, the perfect environment. Representatives of many cultures and religions live in Vancouver, the society is very tolerant, while Canada accepts the largest number of refugees from all countries of the world, including from Syria, but at the same time there are no such attacks by refugees in relation to local ones, there are no attacks on women and the like, the point may be that population density is extremely low, which does not allow passions to heat up. The people around are polite and have a sense of tact, no one goes into private life, doesn’t teach, does not judge, you can walk in the street in any clothes and with any color of hair.

How people live in Vancouver

In Vancouver, there are no ghettos or disadvantaged areas, such as in Paris, London, New York and similar places, however, the situation is similar in all cities of Canada, migrants are settled evenly in all areas.

Vancouver, for all its merits, also receives a share of the disadvantages, since here is the best life, it attracts many people and not the best. Lovers of free love Vancouver, since here is the most liberal government in the world, the highest social assistance, free medical care and generally all the things that are condemned in the USA. Parasites, vagabonds, drug addicts, hippies, alcoholics and other people who do not want to work flock to Vancouver from all over Canada and the United States. Vancouver has a very warm climate by the standards of Canada, so in summer you can live on the street, and in winter the state provides a social overnight stay, homeless people are fed and treated here for free. The number of homeless people on the streets is off the charts. Canadian society is trained in compassion and sensitivity to human grief. Officially, in Vancouver it is forbidden to spend the night on the street and build tents, unlike Toronto.

Vancouver has the longest life expectancy among other cities, this may be due to the unique local climate that combines the ocean and mountains, but the city is dirty, it seems that all residents smoke and drink alcohol without ceasing, however, buying cigarettes and alcohol is expensive and nowhere , only a few specialized stores sell such goods.

Unlike Montreal and Toronto, Vancouver has ghettos and unsightly sleeping areas, which by Canadian standards can even be called favelas, which the local government wants to demolish and build something modern on this site. Vancouver with its residential infrastructure will appeal only to those who have not been to Toronto and Montreal.

Vancouver is closer than other cities in Canada to Asia, I won’t surprise anyone if I say that half of the population are Asians, in the form of Chinese attractions in Vancouver, the Sun Yatsen Chinese Garden can be noted.

There is no economic city in Vancouver, the local downtown with skyscrapers is occupied by residential apartments, not offices, commercial firms are scattered throughout the city and especially around the port.

The center of pride can be considered the port, which is the largest in Canada, the city of Vancouver can be compared with the Ukrainian Odessa, for this reason Vancouver competes with Toronto, Montreal and Ottawa for the prices of living.

Vancouver Shopping

The crisis has affected prices in stores, especially foodstuffs, which are mostly imported from the neighboring USA, fruits and vegetables from California, which is still suffering from drought. For example, apples in Canadian stores do not cost 2 Canadian dollars as before, but already 10. At the same time, prices in stores are written without tax, the final purchase amount can be found only at the box office, in the face of such a sharp increase in prices, this tradition can be reviewed, so as not all people will have enough money without looking back.

Restaurants in Vancouver are extremely diverse, there are ethnic institutions from all over the world. The cost of lunch is relatively not high.

Fun and relaxation in Vancouver

Vancouver is a city of multiculturalism and diversity, but it’s hard to get used to it by people who grew up in a monocultural society, this applies to immigrants from Ukraine. A person faces a huge ethnic diversity in music, art, entertainment, food, exhibitions, but this increases the opportunities for cultural recreation and distinctions.

Vancouver can be considered a green city with a stretch, all the major cities of Canada are the same, there are very few trees in the cities themselves, you need to go outside the city, where you will be met by national parks that are carefully guarded.

Vancouver Nature

Unlike other major cities in Canada, Vancouver is surrounded on all sides by mountains with snow caps and an ocean with whales, the nature of British Columbia is simply stunning, for example, what is the lake Capilano Lake, which can be accessed by city bus. Grouse Mountain rises above Vancouver itself, with stunning views of the city and the ocean, the neighboring Baker Mountain is mistaken for the Paramount Pictures screensaver, and Banff National Park is nearby in the Rockies.

Transportation in Vancouver

You can learn more about Vancouver’s transport on the city page, but here we are talking about life, since Vancouver is a bicycle city, in this regard it is the most advanced in Canada, the streets are intersected by green, dedicated paths for cyclists, and you can ride anywhere on the bike with comfort while in Toronto the bike paths are simply separated by a curb from the carriageway or by markings, then in Vancouver, as in Montreal, there are separately laid paths. Vancouver Metro boasts separate wagons for cyclists. One inconvenience, in Vancouver there are no such large automated bicycle rental stations as in Toronto and Montreal, you can rent a bicycle at the bike shop. Vancouver has the world’s largest water airport, a spectacular sight. A trolley bus runs in Vancouver, a rare occurrence for ecological Canada; a monthly pass costs less than in Toronto. Vancouver’s subway and ground transportation rides empty; a maximum of a couple people can be counted in a subway car.

Jobs and Salaries in Vancouver

Vancouver is a little smaller city than Toronto and Montreal, for this reason there is less market and labor and it may be harder to find work.

Vancouver has a higher income tax but a lower sales tax than Canada as a whole. The average salary in Vancouver is slightly lower than in Toronto and Montreal, reaching $ 3,000 per month after tax. Due to the fact that today there is a big difference between Canadian and American dollars, it is worth noting that the account goes to Canadian dollars, so the locals will receive only 2,000 US dollars, which is relatively small.

Which city of Canada to immigrate to

If you want stunning nature, hiking opportunities, winter downhill skiing, then it is better to choose Vancouver, who loves modern apartment buildings, more luxurious living conditions, then choose Toronto and Montreal.

Apartments and Housing in Vancouver, rental and purchase

Renting an apartment in Vancouver is much cheaper than in Toronto or Montreal, the reason is in some provincialism and, of course, in the housing stock, which is very outdated. These can be high-rise buildings with a very modest charm, you can recommend choosing apartments on the upper floors with wonderful views, while the fog spreads very low in the morning and it seems that you are above the clouds with only 10 floors. Very beautiful.