Although Canada is one of the best countries in the world, it isn’t known for having a great year-round climate. Many Canadians like to escape down south during the winter months or during their golden years to enjoy great weather, outdoor living, and a community lifestyle.
Whether you’re considering purchasing down south for a primary residence, holiday home, or looking to invest, there are many benefits that go along with a purchasing a house is the U.S.
The first benefit is affordability. Real estate prices, particularly in the GTA have continued to increase, however, the average spend on a home in the U.S. is $384,000 according to the Royal Bank of Canada. This is considerably less expensive then purchasing a home in the GTA. Secondly, the everyday lifestyle down south is much more relaxed. Many retired Canadians down south reap the benefits of warm weather and outdoor activities along with being close to entertainment such as shopping and dining. Another benefit to consider is the investment security of purchasing a property is the U.S. The United States continues to be a secure location to diversify and invest in real estate. The strong U.S. economy allows for stable housing prices which lead to appreciation over the long-term. And if you’re considering only living down south part-time, there is a strong and healthy rental market that can help offset some of the costs. When you rent out your home in the U.S. you no longer have to worry about the exchange rate, since you will be paid in domestic currency.
If you’re considering purchasing in the U.S. or just curious to learn more, give me a call today and I can help answer any questions that you have. The sunshine state is waiting for you.