Moved: Rent or Buy? What did you do?
Dec 17th 2007, 7:57 am
#1
Forum Regular
Thread Starter
Joined: Dec 2007
Location: Bedford , Halifax, nova scotia
Posts: 42
Moved: Rent or Buy? What did you do?
Rent or Buy? Moving to Nova Scotia in the summer.
Could any one give us examples of how they moved from uk to canada, regarding selling the home and buying out there. (in canada) in what order?
We have a dog and may find it hard to rent?
We didn't want to rush into buying incase we found a plot to build on by a lake? So thought it better to rent for a while and really get to know the different areas ? Has anyone had experience in having their home built in Nova Scotia ?
Is there anyone having their home designed by an architect?
God do we even know what we are doing ..
Help
Los
Could any one give us examples of how they moved from uk to canada, regarding selling the home and buying out there. (in canada) in what order?
We have a dog and may find it hard to rent?
We didn't want to rush into buying incase we found a plot to build on by a lake? So thought it better to rent for a while and really get to know the different areas ? Has anyone had experience in having their home built in Nova Scotia ?
Is there anyone having their home designed by an architect?
God do we even know what we are doing ..
Help
Los
Last edited by emmsagogo; Dec 17th 2007 at 8:01 am.
Dec 18th 2007, 12:30 am
#2
Forum Regular
Joined: Aug 2007
Location: New Glasgow, Nova Scotia
Posts: 221
Re: Moved: Rent or Buy? What did you do?
Hi there,
Have a look on UK2NovaScotia website they are full of information and are happy to answer all your questions. They have a page of rentals and a job board too.
Good luck and good choice with Nova Scotia we arrived 3rd December and everyone has been so kind to us and the lifestyle suits us perfectly. We live in New Glasgow and if you want more info on there I will be happy to help you if I can.
Julie
Have a look on UK2NovaScotia website they are full of information and are happy to answer all your questions. They have a page of rentals and a job board too.
Good luck and good choice with Nova Scotia we arrived 3rd December and everyone has been so kind to us and the lifestyle suits us perfectly. We live in New Glasgow and if you want more info on there I will be happy to help you if I can.
Julie
Dec 18th 2007, 12:51 am
#3
Sawdust making harpy
Joined: Sep 2007
Location: Alberta
Posts: 11,291
Re: Moved: Rent or Buy? What did you do?
Hiya - we are in a company house for the first 3 months but we have found a cheapy rental for the next 12 (we also have a house still on the market in the UK that we have to send phenominal mortgage payments back to :curse
.
However even if we didn't have the mortgage I think we would still rent a place for the first year, so we get to know certain areas of the town we have moved to - y'know good - bad - wouldn't touch with a barge pole!!!!!
And then that way when we do buy we are definately going to be happy where we end up!
It also gives you a feeling of a bit of freedom because outgoing as some are (and I am!!!!) there are days that you just get a bit teary cos the change is big - so if you really didn't settle in that first year you have the leverage of not being tied with a mortgage!!!!
.However even if we didn't have the mortgage I think we would still rent a place for the first year, so we get to know certain areas of the town we have moved to - y'know good - bad - wouldn't touch with a barge pole!!!!!
And then that way when we do buy we are definately going to be happy where we end up!
It also gives you a feeling of a bit of freedom because outgoing as some are (and I am!!!!) there are days that you just get a bit teary cos the change is big - so if you really didn't settle in that first year you have the leverage of not being tied with a mortgage!!!!
Dec 18th 2007, 1:59 am
#4
Yorkshire meets Vegas
Joined: Jul 2004
Location: T. ON (so there!)
Posts: 1,354
Re: Moved: Rent or Buy? What did you do?
I bought my first place within a week of moving over here... Big Mistake!
Although it was a great place, and I wish that I still owned it, it turned out that it was much better for me to live in Toronto, rather than Oakville where I bought. I also found that I had underestimated my living expenses...
So my advice would be to rent for at least six months while you figure out your bearings and decide where would be really good for you to live...
Although it was a great place, and I wish that I still owned it, it turned out that it was much better for me to live in Toronto, rather than Oakville where I bought. I also found that I had underestimated my living expenses...
So my advice would be to rent for at least six months while you figure out your bearings and decide where would be really good for you to live...
Dec 18th 2007, 4:33 am
#5
RETIRED Realtor
Joined: Aug 2006
Location: Winnipeg, Manitoba
Posts: 2,087
Re: Moved: Rent or Buy? What did you do?
WE came over in 98, I had pre-arranged a short term (6 month) furnished rental, then when we arrived, and we knew when our furniture would arrive, we rented an empty house for 2 years. After the 2.5 years we had lived here, we knew where and in what we wanted to live.
If it is possible for you rent for at least the first 6 months.
If it is possible for you rent for at least the first 6 months.
Dec 18th 2007, 5:02 am
#6
Immigration Consultant
Joined: Jun 2007
Location: Halifax, Nova Scotia
Posts: 2,144
Re: Moved: Rent or Buy? What did you do?
Just to reiterate what others have said above...
I do know lots of people that have moved to Nova Scotia and bought houses that they were able to move into the moment they arrive. In many cases they have bought the house on a reccie visit long before they moved here. I guess it must be appealing in many ways - your own house is always much nicer than being in a rented house (where you have to live with someone else's decor etc). However in the vast majority of cases those people seem to end up wishing they had bought a different type of house or bought in a different area.
I think when you're "new" its really easy to be steered in a certain direction by a real estate agent or relocation specialist who hasnt really got to know you well enough to know the "real you" and where you might be happiest. Also its sometimes hard to know your own mind too as everything seems so different and all the houses (especially in NS) seem so amazing and affordable comparred to the UK. The net result is that you end up buying somewhere and, although its definitely preferable to renting in the short term, it turns out not to be what you really wanted for the long term after you have time to settle-in.
The problem with the above (unlike the UK) is that selling your house is much more expensive here. The real estate agent takes 6% plus tax and then you have legal fees, taxes and moving costs which are all not cheap either. So if you are in (for example) a $300k house it might cost you something like $30k to move to a different one - which is a huge loss of equity.
Seriously, I know of one house in Fall River that has been bought and sold 3 times in the last 12 months - all by the same real estate agent. All the owners have been brits. As a new house it was sold by the builder to an expat couple. they only stayed there 4 months. They then sold it to another british couple who have since sold-up and moved too. The house still hasnt even been landscaped. The real estate agent must be laughing all the way to the bank having sold the same house 3 times over in such a short space of time!
For all the reasons outlined above I would always recommend renting for a short spell first until you find your feet and know what kind of house you want or where you want to live. One of the main reasons people dont want to rent is cause they think "oh no, house prices will go up and we'll be left out of pocket while we rent" but honestly any appreciation in value you would have made during the first 12 months will be wiped-out by having to sell and move somewhere else if you dont like it.
When we first moved here we rented a house that looked beautiful to begin with. It was completely open plan had a great big galleried living room - completely different to anything we were used to in the UK. At first we thought it would be exactly the kind of house we wanted to buy. However, after about 3 days we discovered how completely impracticle it was: wherever our kids played we could hear them! If the played upstairs the galleried living room made it sound like they were in the same room as us and so did the kitchen, dining area etc etc. Not to mention that all the heat from the fireplace blew straight upstairs so the upstairs was ridiculously hot and the lounge wouldnt get warm. After a few months we couldnt wait to leave and we were soooo glad we were only renting and hadnt bought it.
Anyway, thats my view on the subject.
I do know lots of people that have moved to Nova Scotia and bought houses that they were able to move into the moment they arrive. In many cases they have bought the house on a reccie visit long before they moved here. I guess it must be appealing in many ways - your own house is always much nicer than being in a rented house (where you have to live with someone else's decor etc). However in the vast majority of cases those people seem to end up wishing they had bought a different type of house or bought in a different area.
I think when you're "new" its really easy to be steered in a certain direction by a real estate agent or relocation specialist who hasnt really got to know you well enough to know the "real you" and where you might be happiest. Also its sometimes hard to know your own mind too as everything seems so different and all the houses (especially in NS) seem so amazing and affordable comparred to the UK. The net result is that you end up buying somewhere and, although its definitely preferable to renting in the short term, it turns out not to be what you really wanted for the long term after you have time to settle-in.
The problem with the above (unlike the UK) is that selling your house is much more expensive here. The real estate agent takes 6% plus tax and then you have legal fees, taxes and moving costs which are all not cheap either. So if you are in (for example) a $300k house it might cost you something like $30k to move to a different one - which is a huge loss of equity.
Seriously, I know of one house in Fall River that has been bought and sold 3 times in the last 12 months - all by the same real estate agent. All the owners have been brits. As a new house it was sold by the builder to an expat couple. they only stayed there 4 months. They then sold it to another british couple who have since sold-up and moved too. The house still hasnt even been landscaped. The real estate agent must be laughing all the way to the bank having sold the same house 3 times over in such a short space of time!
For all the reasons outlined above I would always recommend renting for a short spell first until you find your feet and know what kind of house you want or where you want to live. One of the main reasons people dont want to rent is cause they think "oh no, house prices will go up and we'll be left out of pocket while we rent" but honestly any appreciation in value you would have made during the first 12 months will be wiped-out by having to sell and move somewhere else if you dont like it.
When we first moved here we rented a house that looked beautiful to begin with. It was completely open plan had a great big galleried living room - completely different to anything we were used to in the UK. At first we thought it would be exactly the kind of house we wanted to buy. However, after about 3 days we discovered how completely impracticle it was: wherever our kids played we could hear them! If the played upstairs the galleried living room made it sound like they were in the same room as us and so did the kitchen, dining area etc etc. Not to mention that all the heat from the fireplace blew straight upstairs so the upstairs was ridiculously hot and the lounge wouldnt get warm. After a few months we couldnt wait to leave and we were soooo glad we were only renting and hadnt bought it.
Anyway, thats my view on the subject.
Dec 18th 2007, 5:42 am
#7
Thinking the unthinkable.
Joined: Mar 2005
Location: Guelph, Ontario
Posts: 2,136
Re: Moved: Rent or Buy? What did you do?
Abbreviated version:
Sold small flat in Scotland for more than double the price we paid for it (admittedly 13 years previously).
Pocketed money and had serious thoughts about blowing it all on a weeks hedonism in one of the sleazier locations of this fine world.
Came to senses (wife made my mind up for me) and booked into a hotel for two weeks when we first landed.
Looked for rental and viewed many fine establishments that I wouldn't home a syphillitic rat in (if such a creature indeed exists).
Found a 3 bedroom rental house that the landlord agreed to rent for 6 months with option to extend to 12.
Due to landlord being a greedy, spineless *#!! we were forced into looking for a property to buy. OH viewed almost 30 homes and found the one we eventually bought.
Mortgage, financing, house checks et al were easily sorted and here we are 16 months down the line from landing.
All seems so smooth with hindsight but was a complete bast**d at the time.
Have fun.
Sold small flat in Scotland for more than double the price we paid for it (admittedly 13 years previously).
Pocketed money and had serious thoughts about blowing it all on a weeks hedonism in one of the sleazier locations of this fine world.
Came to senses (wife made my mind up for me) and booked into a hotel for two weeks when we first landed.
Looked for rental and viewed many fine establishments that I wouldn't home a syphillitic rat in (if such a creature indeed exists).
Found a 3 bedroom rental house that the landlord agreed to rent for 6 months with option to extend to 12.
Due to landlord being a greedy, spineless *#!! we were forced into looking for a property to buy. OH viewed almost 30 homes and found the one we eventually bought.
Mortgage, financing, house checks et al were easily sorted and here we are 16 months down the line from landing.
All seems so smooth with hindsight but was a complete bast**d at the time.
Have fun.
Dec 18th 2007, 5:46 am
#8
Forum Regular
Joined: Jan 2007
Location: Okanagan BC
Posts: 140
Re: Moved: Rent or Buy? What did you do?
anyone know of any good sites for house rentals in BC?
Dec 18th 2007, 6:08 am
#9
Binned by Muderators
Joined: Jul 2007
Location: White Rock BC
Posts: 11,688
Re: Moved: Rent or Buy? What did you do?
Whereabouts in BC?
Dec 18th 2007, 6:29 am
#10
Forum Regular
Joined: Jan 2007
Location: Okanagan BC
Posts: 140
Re: Moved: Rent or Buy? What did you do?
sorry should have stated. Salmon Arm area...
Dec 18th 2007, 10:30 pm
#11
Just Joined
Joined: Oct 2007
Posts: 20
Re: Moved: Rent or Buy? What did you do?
I'm looking for rentals in Richmond / Surrey / Langley areas if anyone knows of a good site
Dec 19th 2007, 12:17 pm
#12
BE Forum Addict
Joined: Jun 2007
Location: Cobble Hill, Vancouver Island
Posts: 1,096
Re: Moved: Rent or Buy? What did you do?
Hi, we rented a vacation home for a month for a much needed holiday after getting through all the emigration process. We looked at houses while we were there and had bought one and moved in by the end of our months break. We lived there for two years and moved 18 months ago to where we live now.
Dec 21st 2007, 8:40 am
#13
Forum Regular
Thread Starter
Joined: Dec 2007
Location: Bedford , Halifax, nova scotia
Posts: 42
Re: Moved: Rent or Buy? What did you do?
Thankyou soo much people for telling us your stuff... it's been invaluable!*
Renting is the way to go isn't it. Although i have done a ton of research and one visit to ns ... it still isn't enough to truly get to know that area in relation to everywhere else..shops, nabours. And i don't know if you guys have noticed something... I have 70 odd relator details in my book marks and some houses have been up for sale well over a year and one brand new place we viewed when we were out there, was on the market for ten months and more... so this isn't unusual.
Imagine if you wanted to move on and it wasn't the right place for you ...yi...ckeeeees.
I am trying to resist the beautiful home in the middle of 20 acres... in the middle of nowhere, no nabours,,, hense no poping in for a cup of tea...hense no invites for b-bq's.
Renting is the way to go isn't it. Although i have done a ton of research and one visit to ns ... it still isn't enough to truly get to know that area in relation to everywhere else..shops, nabours. And i don't know if you guys have noticed something... I have 70 odd relator details in my book marks and some houses have been up for sale well over a year and one brand new place we viewed when we were out there, was on the market for ten months and more... so this isn't unusual.
Imagine if you wanted to move on and it wasn't the right place for you ...yi...ckeeeees.
I am trying to resist the beautiful home in the middle of 20 acres... in the middle of nowhere, no nabours,,, hense no poping in for a cup of tea...hense no invites for b-bq's.
Last edited by emmsagogo; Dec 21st 2007 at 8:42 am.
