jumomo

Hello good people.we are a family of four,my wife and I are both chefs,we secured our PR last August.after selling our London home,we will have just over half a million dollars as a settlement fund.due to a family illness,we delayed our move for another six months.would you say that kind of money is a good start for home purchase and investment(rental property)?
We are thinking of southwestern Ontario as we know someone over in stoneycreek.
Any similar scenarios we would be happy to listen to your experience and any advice is more than welcome.

dbd33

Yes, you have a lot of money.

magnumpi

Do you do interest free loans ?

JamesM

Are these Canadian dollars or Zimbabwean dollars?

If the former you will be in a reasonable position.

If the latter then you won't be able to buy a small coffee at Tim Hortons.

Gozit

Mm yes very good start !! Especially where I am located now (St Thomas, ON) housing is relatively cheap. 500 000 could get you 2 very nice homes.

Simon Legree

Half a mil should just about buy you a broom closet in BC !

happyhammers

Loads'a money, you will be alright with that amount. We've got around 100,000 and that sets us up.
My OH is a chef and she would love to know about your experience about working in Canada

Dashie

You moved? I thought you were in Mississauga?

Yes, you could get at least one, maybe 2 or 3 homes with that kind of start, depending exactly where. Or one home and a business, lots of options. You could buy my house

Oink

With that much to put down on a house why not move somewhere nice instead?

Gozit

Yeah we moved a few weeks ago... We used to live here, were in sauga for a couple years, now back.

Yorkiechef

You can get a nice 3 bed apartment in kits Vancouver for $400k. That is what I would have bought if I was going to van, you should be fine with that level of funds, many an immigrant would swop with you. Enjoy your life. We are also chefs but headed to Calgary, we are looking to be close to the city in an apartment do thatwe can get on with life without the hassle of maintaining the garden, we can then see North America during our down time. Good luck and enjoy your life.

confused_uk

Check out http://beta.realtor.ca/index.aspx?CultureId=1& for property prices in the area

Cabbagetown

500 K is a good start for a family, if in the Toronto area. Try look for a house in the GTA, a bit outside, near a GO-train, and you should be fine...... You just need a job.

Gozit

I'll throw a recommendation in for Oakville. I like it there

HGerchikov

I like it here too But $500k isn't going to buy the OP a family home and a rental property.