Are you planning to relocate to Canada?

Published on: 27 September 2017 Last Updated on: 16 August 2019

If you’re among those relocating to a big and highly popular nation, Canada then this write-up is to guide you to get the best accommodation to live in. Heading to a new country is always an exciting experience, but when it comes to establishing yourself there could be a daunting task.

Right from your touchdown in Canada post-immigration, is tracking a comfortable accommodation. Here some of the sources who can count upon in finding a perfect location to live in. Keep reading!

Pick Temporary Accommodation:

Initially, most of the immigrants plan to take in temporary accommodation and then move to a permanent place. Probably, the prime focus is on finding a good job first and a preferred residence location thereon. Such temporary staying solutions can be hotels, hostels, rental apartments, and alike. The apartments in Canada are subjected to 12 month lease period only.

Consider Preferences:

To meet such a situation, the country has introduced a specific accommodation service to assist the immigrants in finding the perfect location in the minimum time possible. All you need to apply for the same considering your preferred location, budget, workplace distance, and other related expenditure.

Check Affordable Availability:

If you ask for the cost of living in Canada, it simply depends upon the area/street you select to live. Reading the reviews, the places like Saskatchewan and Montreal are among the most affordable to stay at. These are economical as compared to Alberta and Vancouver.

External Sources:

You must be financially strong enough as the cost of living in Canada is certainly higher than the cost in your base country without any doubt. You can use various sources to find a perfect place for you. It comprises Canada’s housing corporation, housing directories, classifieds, websites and other media tools.

CMHC (Canada Mortgage and Housing Corporation) is a government agency that aims to provide the best resources for housing for people probing for accommodation in the country. It helps both the new entrants as well as the existing citizens looking for a home.

Next, you can find a kind of housing, whether temporary or permanent in the housing directories, classified and newspapers as per your budget and preferences.

There is a myriad of online websites which help you to get a house for yourself. Maps are displayed there, you can just click on the location you desire to live in and it will show you all the possible housing options in and around the specific area. These websites help in finding services and jobs as well.

An ideal way to relocate and settle in Canada is on PR visa. With this visa, the applicants can fetch several benefits from the massive Canadian government, such as free education and free medical facilities.

Connect to the visa experts and get detailed information about the formalities and paperwork required for the same. You can browse through eta-canada-visa.com to take the expert guidance on visiting Canada as a tourist or PR or study abroad. It helps you in the complete visa documentation and procedure.

Hoping for your delightful stay in Canada!

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Buy to Let Mortgage Explained

A buy to let mortgage differs from a regular mortgage since it is for investors or landlords who buy property to rent out to tenants; not for their residential purposes. The essential differences that an investor should be aware of can be provided through professional and experienced advice from mortgage brokers in the UK. Some issues linked to the subject are listed below: Buy to Let mortgage in the UK is available to individuals as well as to corporates and companies. However, a BTL mortgage for a company will have to be through a lender who accepts investment through limited companies. Maximum limit: The amount that can be borrowed is linked to the expected rental income. Lenders usually require the rental income to be 25-30% higher than the mortgage payment. Deposit: A deposit will be required to be paid to the lender; it is usually 25% of the value of the property (though this can escalate to about 40%). Repayments: The two ways of paying back the mortgage are explained below: Interest-only mortgage: is self-explanatory and, every month, only the interest on the loan is paid back. This means lower monthly payments, but the loan will have to be paid at the end of the mortgage period. Repayment mortgage: is when both the interest as well as some portion of the loan itself are paid back. A higher monthly payment will be required, but the advantage is that by the time the mortgage term matures, in all probability, the entire loan would be repaid. Depending on the investor’s capital and budget, advice will be required on the Repayment issue since lenders vary on the repayment requirements. Taxes: Both Capital Gains Tax and Income Tax are payable on buy to let properties. Capital Gains Tax: The rate is payable dependent on the income bracket of the investor. By adjusting property purchase fees (or even losses from another BTL property), this tax can be reduced. Income Tax: Landlords will not be able to deduct the mortgage interest from rental income. Instead, the total mortgage interest payment will receive a 20% tax relief. Fees like council tax or property maintenance charges can be offset if the annual income allowable is exceeded. BTL remortgage: By switching to another deal once the current mortgage is over, a BTL remortgage can sometimes be advantageous as the interest rate can be lower. If a remortgage is required earlier, lenders usually require a minimum time of 6 months after the title deeds are transferred before they will consider this. However, arrangement fees for BTL are high so remortgaging can be expensive and, since interest rates can fluctuate, the pros and cons will need to be carefully reviewed. Regulation of Buy to let mortgage: Most of these mortgages are not regulated by the FCA as they are treated as business borrowing. However, Consumer BTL mortgages are handled in the same way as residential mortgages by the FCA, protecting the investor from fraud or incorrect advice. This type of mortgage is for “accidental landlords” - it is defined as ‘a buy-to-let mortgage contract which is not entered into by the borrower wholly or predominantly for the purposes of a business carried on, or intended to be carried on, by the borrower.’ For example, if the property is bought for relatives to live in, it would be considered as a Consumer BTL mortgage. Legislation: Investors need a tenancy agreement, outlining the terms and responsibilities of both parties. The rented property should be kept safe with a fire alarm and all gas and electrical equipment maintained in good condition. An energy performance certificate should be provided to the tenant. The tenant’s right to rent should be checked. The deposit should be protected in a Government-backed scheme. Conclusion: As in every critical decision, the pros and cons need to be weighed. In the case of a Buy to Let mortgage, some of them are: Advantages: Demand: With the demand exceeding supply, the rental market is suitable for investors. Capital gain: Although there is a risk with the value of property fluctuating, “brick-and-mortar” has usually survived and increased in value. Income: With the rental trend increasing, the revenue should be an asset. Disadvantages: High fees: Fees, deposits, and admin/legal costs can be increased. Rental voids: There is the risk of having no tenant or a tenant who is problematic with payments. Legal: Keeping in line with the legal requirements can be a big responsibility. Should a BTL mortgage be decided on, just keep in mind that the stamp duty holiday is till 31 March 2021 and so all necessary documentation should be completed well in time if this benefit is to be availed! Read Also: Federal Government and the Subprime Mortgage Crisis They Created 7 Expert Tips In Finding The Best Mortgage Broker In Vancouver Finding the Best Mortgage Lenders to Buy Your Dream House

Tools Used in Building Surveying

Surveying is a construction technique and process that building contractors perform to measure distances between points and angles. Surveying is also a way of levelling construction sites before the actual construction commences. The right surveying equipment helps in guaranteeing the accuracy and efficiency of the measurements. There are several instruments and equipment that surveyors use before construction. Theodolite: Surveyors use a theodolite for precisely measuring both vertical and horizontal angles for triangulation. Triangulation is the measuring of the distance and location of a certain point. A moveable telescope connected to a perpendicular axis is what comprises a theodolite. The telescope is on top of a tripod head that supports the whole instrument. There are screws for tightening and loosening the telescope. Placing the apparatus directly above the point produces a precise measurement. A laser plummet, or a plumb bob is essential in measuring a position using a theodolite. Dumpy level: A device that looks like a telescope perched on a tripod is what makes up a dumpy level. Surveyors use this instrument in establishing points in one flat area. A dumpy level has other uses: paired with a vertical staff, it can measure differences in height and relocate elevations. A dumpy level has three variations: A tilting level is where you can move the telescope 180 degrees. A digital electronic level uses electronic laser techniques to interpret a vertical staff with barcodes. An auto level is easy to set up. The internal compensator mechanism can eliminate any variation. Measuring Wheel: A measuring wheel is a less accurate instrument for measuring distances. The wheel is rolled manually from one point to another. One turn of the wheel measures a certain distance, either a metre or a yard. A mechanical device connected to the wheel counts the revolutions and measures the range directly. The measuring wheel is the most straightforward and most uncomplicated surveying instrument, but it does not provide the same accuracy and precision that other devices offer. Total station: A total station is the more modern version of a theodolite. A total station has an electronic distance meter. Another essential component of a total station is a microprocessor unit. This component gathers data to establish the following: The three coordinates of the measured points. The elevation of elements. The average of various measured angles. The distance on a horizontal plane. The proportion of different measured distances. The range of two points. You can download the following data that is gathered by the total station to process using computer-aided design (CAD), geographic information system (GIS) or building information modelling. The best thing about a total station is that it can produce precise and accurate measurements. If you are planning to build an establishment for business or a home, you can seek the help of building surveyors in Leicester which has several companies that you can go to for this purpose. These surveying companies possess all the necessary tools for the job. Do not bypass the surveying part of construction as doing so may result in problems in the long run. Read Also: The Best Methods To Build Strong Customer Relationships 5 Ways Construction Businesses Can Gain New Clients

DC Metro Area Real Estate Update

Real estate in the nation's capital is enjoying a banner year, according to all indications, and expectations are that the good times will continue -- at least for sellers. It's not only the city but the entire metropolitan area, including sought-after Maryland and Virginia communities, that are currently experiencing fast sales and rising prices. Combine that with near record-low inventories, and it is a classic seller's market. The picture is not quite as rosy for buyers, however. Sales are brisk, averaging well over 8,000 homes closed during the last several 30-day periods. Nearly 9,000 homes were sold during June, and week over week sales increased 3.5 percent, according to the July 8 Homesnap report. Close-in Fairfax County, in Virginia, is a consistently high performer, even beating its own week-over-week record on a regular basis. In June, there was some concern that the market was showing signs of weakening after a strong start to 2017. And, to be fair, sales numbers were down slightly for a week in June, but have since rebounded. Inventory is down to a two-month supply, and median sales price for the area continued a 12-week upward trend. Overall Figures Reflect Strength While market conditions vary by specific locale and by housing type, the median list price for all homes currently on the market is $450,000, up from $439,000 one year ago, but lower by 2% than one month ago. The median price has trended upward, though, since January 2017, which marked the low point since July 2016. Among active listings, average time on market is 131 days, and there are nearly as many new listings as there are price reductions. New listings are lower than previously by nearly 10 percent, and the number of reduced price listings is down 2.7%. The median list price of detached homes is $545,000, with average days on the market only at 96. Townhome and condo sales and prices are equally strong: $390,000 and 58 DOM; and $320,000 with a DOM of 63, respectively. The Investment Picture In the Washington, D.C., metropolitan area, as in many other parts of the country, it is the Millennial generation and Baby Boomers who are the driving forces in the real estate market. Although the reasons are quite different, the two age groups exhibit many of the same preferences. They tend to prefer locations near the urban core, although close-in suburban communities are finding new favor with young working singles as well as families. Empty nesters and soon-to-be-retired couples are, in many cases, downsizing by trading their suburban homes for an in-town apartment, condos, and townhomes in order to be near cultural amenities, shopping, restaurants, and nightlife, as well as to maintain former business ties. Spending on remodeling and improvements to sell is forecast to have a major impact on the economy during the second half of the year. When the available housing supply dwindles, a high percentage of buyers, young and old alike, decide to remodel rather than wait for the "perfect" home or take a chance of being priced out of the market. Based on a report from Harvard University's Joint Center for Housing Studies, senior homeowners, those aged 65 or older, will be responsible for one-third of total remodel dollars spent in the nation by the year 2025. In addition, total expenditures by all age groups are expected to rise by at least $48 billion over 2015 spending. The lesson to be learned? In a tight housing market, if you can't easily find the perfect home, simply remodel what you find to be acceptable. If current trends continue in the DC metropolitan area, home improvement may become the new normal. Read More : Top Expert Tips For A Stunning Condo Interior! We Buy Houses: Don’t Build Without Permits

Are you planning to relocate to Canada?

Pick Temporary Accommodation:

Consider Preferences:

Check Affordable Availability:

External Sources:

DC Metro Area Real Estate Update

What Makes a Strong Foundation for Your Home

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Related

Buy to Let Mortgage Explained

Tools Used in Building Surveying

DC Metro Area Real Estate Update

Are you planning to relocate to Canada?

Pick Temporary Accommodation:

Consider Preferences:

Check Affordable Availability:

External Sources:

Share this Article

DC Metro Area Real Estate Update

What Makes a Strong Foundation for Your Home

Content Rally wrapped around an online publication where you can publish your own intellectuals. It is a publishing platform designed to make great stories by content creators. This is your era, your place to be online. So come forward share your views, thoughts and ideas via Content Rally.

Leave a Reply

Popular

Follow Us

Recent

Related