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Buy Canadian Property in Ontario

Buy Canadian Property in Ontario-Simply put, buying real estate or waterfront properties in Ontario is very easy.

Ontario has no restrictions on foreign ownership of Real Estate; other provinces do have various restrictions.



Real Estate and Ownership Basics:

If you plan to stay in Canada for 6 months or less each year, the government will consider you a non-resident.

If you plan is to live in Canada for more than 6 months per year, you must apply for immigrant status.

When Looking To Buy Canadian Property, a home, condo, cottage, vacation property or waterfront lands in Ontario...

The Offer Begins With An Agreement of Purchase and Sale"

  • The offer is made in writing.

  • All Aspects Are Clearly Outlined within the offer and a 'deposit in trust' is submitted.

  • The Offer Will Include Clauses ensuring due-diligence of all aspects of the property purchase, inspections and financing are completed to your satisfaction.

  • All chattels to be transferred should be listed accurately in the offer.

  • The Offer will Have an Irrevocable Date and Time, meaning that your offer is good until this time only ... at which point the offer expires.

  • The Offer is Presented to the Seller, negotiations start

  • The Seller Can Change Many Items On Your Offer and initials all areas. Your original offer no longer applies; they have made a counter offer to you.

  • Offers Can Go Back and Forth Several Times, initialling each change with acceptance. Once all terms and conditions are agreed upon, this becomes a binding contract.

  • Your Due-Diligence on the property and lands. If major property issues are discovered (and the offer 'has' all of the appropriate conditions) the offer can be terminated and your deposit will be returned.

  • The Final Step, your conditions are fulfilled or waved in their entirety upon this being completed, the agreement is binding


  • Your lawyer is required to prepare the mortgage documents and registration at the Land Titles office.



Buy Canadian Property- Completion Costs Guide

Other Costs for the Property Closing

  • HST - (Harmonized Sales Tax) If you buy a newly constructed cottage or waterfront home, there is a 13% tax. There are various levels of rebates that apply to this.

  • HST On Resale Properties This tax typically does not apply to existing properties.

    Fishing Sunrise

  • Property Transfer Tax - When a residence is purchased a Land Transfer Tax applied.

    For more information please visit the Ontario Government Site

  • Prepaid property taxes or utility bills - You will have to reimburse the sellers for any prepaid property taxes or utilities.

  • Appraisal - If financing though a Canadian Bank, your may be required to have an appraisal completed. Sometimes your lender covers this cost otherwise you are responsible for covering this cost.

  • Survey fee - Your lender may require an up-to-date survey of the property. If the seller did not provide you with one, you should consider putting this in your offer as a condition.

  • Home Inspection - I recommend that you get a home inspection by a certified home inspector.

  • Legal fees - Lawyer's fees for closing the sale range depending on the lawyer and the complexity of the deal.

  • Land Titles Office - These fees are approximately $300. Your lawyer will arrange this payment.

Cottage Expenses - Ongoing Costs- Just To Give You an Idea

After you Buy Canadian Property the ongoing expenses to care for your place...

  • Annual property taxes-are dependent on the property, when you get the property listings, this amount is listed on the property listing we provide you.

  • Hydro- Ontario Hydro bills are dependent on the property and usage 'assume' at least $150 per month when occupied. We can get historical costs disclosed from the sellers when an offer goes in.

  • Heat is dependent on the source- Assume at least $300 per month for the winter months

  • Telephone- $50 per month

  • Internet- $50 per month depending on the area high speed may be available, some of the cottage areas are still dial-up and Slow! Surprising how many are now high speed though.

  • Road Association Fees- If purchasing on a private stretch of road the owners will share the costs of the maintenance of the road

  • Renting- typically cottage rental management companies charge 20% of the weekly rental and screen all renters prior to allowing them in. You can rent privately through numerous rental companies on the internet. Rideau Properties typically rent anywhere from $1000- $2000 per week although there are ones that push over $3000 per week

  • Property Maintenance- Grass, snow, spring and fall cleanup will vary depending on the property and lands

  • As an Investment- there are potential tax advantages to this. I do recommend exploring the best route and your plan with a Chartered accountant. Also in this case it may be to your advantage to have a mortgage, it is tax deductible for investment purposes.

Consider Your Search to Buy Canadian Property, through our program! We specialize in finding properties for families across Ontario.

You work with folks that know the area you prefer and would love to help your family find your property anywhere in Ontario.

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