Investing in Canadian Properties as a Non-Resident

[Fidel Mercado Gonzalez]

Hello everyone,

I’m currently exploring opportunities to invest in real estate in Canada, specifically in the Osoyoos, BC area. As a non-resident, I’m finding the process challenging due to factors like high upfront costs, foreign buyers’ taxes, and financing limitations.

I’d love to hear your advice or experiences regarding:

• Strategies to manage the high initial costs and foreign buyers’ taxes.

• How to assess the viability of investing in resort properties, such as those in Watermark Beach Resort.

• Any tips for navigating financing as a non-resident or alternatives like seller financing.

If you’ve been through a similar situation or have insights into the Canadian market, I’d greatly appreciate your input!

Thank you!

[Theresa Harris]

BC is not very friendly to foreign buyers.  I'd look in another province (Ontario isn't any better).  Can't give you suggestions for financing, but for where to buy look at Alberta or another province without foreign buyer.  Having said that, the federal government put a restriction on buying houses if you don't live here.  Not sure when that will end.  It was put in place because the feds have increased immigration for the last ~10 years (over 5M people or 8% of our population) to the point that we now have a housing shortage.