I have been reading the threads about house prices and i am a bit confussed? i have been looking at esate agents in the london area and can find houses for under 100,000$ ,alright they might be small (ever been in a new housing devolpment in england, now thats small) i do not know the area so might be full of drug dealers and pimps ( what and inner city englands not like that!)

the point i am trying to make is ,we are hopng to go a coross with £70,000 so putting 50% down on a 110,000$ house is only £30,000"ish which leave me money to live on and furnish the house with buy a car etc etc.

it might not be the only house we buy ,put it is the same as england getting on the ladder ,and i am sure we have better chance of a loan if we are putting 50% down, all the 300k houses are just going to have to wait.

however i might be wrong !

Gary

I think you're sensible not to blow all your money on the house and have absolutely nothing left to furnish it, buy a car and so on. I remain confused, though, on how long you'd have to have a credit history in Canada to be able to get a mortgage for the balance of the house price.

maybe its worth renting for six months to a year just to make sure that's where you want to be? can't understand why some want to rush into buying a house right off the plane. unless you've been to where you want to be several times and know exactly where you want to buy a house.

I agree with the above and estate agents (realtors) will love you being naive johnny foreigner with money to burn. Caution all the way my friend and I'm also talking to myself here!
It's easy to forget that it is a huge amount of money you are dealing with and selling property can take ages so you want to get it right first time.

Consider also how many time you want to move , it might be worth buying bigger initally so you don't have to keep buying /selling as thats expensive and a big hassle. Buy a house you can stay if for at least 5 years. I do agree tho might be best to rent initially


Ray