Hello, I'm going to buy a house in Toronto, Canada. A friend who knows Toronto asked me to submit a scanned copy of the real estate license in China.

Let me just talk about my understanding of buying a house.

1. What is the overall situation of the Canadian real estate market? What is the price range in the central area?

As a real estate, real estate is very regional, so there is a big gap between cities. From the perspective of industry supervision in Canada, real estate agents are usually registered and licensed only in the provinces where they do business.

There are three main types of residential real estate in Canada: single-family villas, townhouses (also known as urban houses) and apartments. At present, the average price of single-family villas in Greater Vancouver is 6.5438+0.04 million Canadian dollars, the average price of urban houses is 540,000 Canadian dollars, and the average price of apartment houses is 4.65438+0.00 million Canadian dollars. 20 1 1 Since the first half of the year, the real estate market in Greater Vancouver has tended to be rational, and many areas have begun to adjust, changing the looting state three or four years ago and gradually entering the buyer's market. Buyers have more choices and negotiation space. Special reminder, 6.5438+0.04 million Canadian dollars is only the average price, and the house at this price may be in a very remote place.

2. What is Canada's housing loan policy? What's the difference between a Canadian citizen and a foreigner buying a house?

There are no restrictions on foreigners buying houses in Canada. At present, the interest rate of bank mortgage in Canada is at a low level in recent decades. Foreigners can apply for bank loans to buy a house, but the procedures are relatively complicated, and the down payment requirement is slightly higher than that of locals. Requirements for foreigners to buy a house loan: First, they must have an account in a Canadian bank; Second, there must be a down payment for buying a house in a Canadian bank account; Third, they must be able to provide enough cash assets in bank accounts outside Canada to prove their repayment ability; Fourth, the bank may also require proof of occupation and other assets and income in the country of residence. Foreigners generally require a down payment of more than 40%, and some banks even require a down payment of 50%. If domestic customers can afford it, cash purchase is the most convenient.

3. What are the favorite areas for China property buyers?

Take Vancouver as an example, the hot spots sought after by China buyers are: West Vancouver, West Vancouver, Richmond and other places. The main consideration factors for China people to buy a house are school, convenient living, surrounding natural environment and scenery. To buy a satisfactory house in these popular areas in China, Vancouver West needs about 3 million Canadian dollars, West Vancouver needs about 2.5 million Canadian dollars and Richmond needs about 2 million Canadian dollars.

4. Is it better to buy an auction house or an existing house in Canada? What are their advantages and disadvantages?

This depends on the customer's demand for home ownership. If immigrants settle down, they need to move in immediately. There is no doubt that existing homes are the best choice. If it's just for investment, you can consider speeding up. The advantage of auction is that the price is more favorable and it is definitely a brand-new house. The disadvantage of auction is that it cannot be seen directly. If the market falls or the geographical position is not optimistic, the investment auction may lose money. If you choose faster, the professional vision and judgment of real estate agents will be very important.

5. How to calculate the property transfer tax if you consider that your children live in their own homes during their study abroad and sell them after graduation within two years?

The first 200,000 Canadian dollars get 1%, and the part over 200,000 Canadian dollars get 2%. You have to pay property transfer tax for buying a house, but you don't have to pay for selling a house.

6. After buying a house, what other expenses are to be paid for a long time? Do I have to pay taxes if I rent a house?

Property tax is levied by the local municipal government. The calculation of property tax is very complicated, and the collection ratio changes every year, so it is impossible to say the exact amount. However, once the customer chooses a house, Haifu will immediately tell him how much the property tax is. Property tax is based on government valuation (and the government valuation of each house is adjusted every year), and investors can estimate it according to three thousandths to five thousandths of the property price. Generally speaking, the annual property tax for a house of 2 million Canadian dollars may be between 6000- 10000 Canadian dollars. Single-family villas do not charge property management fees, while townhouses and apartments charge property management fees, generally ranging from 200 to 400 Canadian dollars per month. If it is a rental property, the rental income needs to be declared to the Canadian Taxation Bureau at the end of the year.

When it comes to Home Ownership Scheme (HOS), first of all, it is the tax preference for "main residence". That is to say, if you make money when you sell HOS, it will generate capital appreciation, which does not need to be included in your tax return income, so the money you earn is tax-free. In addition, because HOS is a self-use property, if the house depreciates, the loss at the time of sale cannot be used as a capital loss tax deduction (for example, it cannot be used as a capital gains tax deduction for stock trading). Of course, the house is easy to preserve its value, and the probability of loss in the long run is not high.

The owner-occupied house must be the place where you or your spouse or children actually live. Since 1982, a family can only declare one set of self-occupied housing. If you buy a house and rent it all, you can't declare your own residence. But if you change to self-occupation in a few years, it can become your own occupation. When selling in the future, the appreciation can be based on the actual length of residence, plus the four years before self-occupation. Exempt from the corresponding value-added tax, provided that you have never declared construction depreciation (CCA). Please consult a professional for details. In addition, you can apply for housing subsidies in Ontario when you declare the local tax of your house, but it varies from person to person, and there is no subsidy if your income is above a certain level.

In recent years, investing in real estate has become one of the hot topics in this city. Regardless of market factors and risks, it is also a good idea to invest in real estate rental from the perspective of taxation. You can make full use of mortgage for investment, and mortgage interest, land tax, depreciation and related expenses can be deducted from rental income, while enjoying the potential of property appreciation. What we should pay attention to here is the depreciation deduction declaration. If you declare depreciation, when you sell the house, if the price is higher than the undepreciated part, the previously deducted depreciation will get back the income of the year. For example, the house price is 200,000, the depreciation is 20,000, and it is 250,000 when it is sold. In addition to the 50,000 earned, it is the appreciation of assets (50% must be taxed), and the depreciated 20,000 will be used as the income of the year when you sell the house. Many people choose not to declare depreciation because they don't want to have higher gross profit in the future.

If you own two houses, one for your own living and the other for renting, then you should pay the principal of the house you live in as much as possible, and pay less of the principal of the house you rent, because the loan interest of the rented house can be deducted, but the loan interest of the house you live in can't. After renting out the house, can the cost of your car be tax deductible? Usually not, unless you can prove that these expenses are caused by the rental of the house. Similarly, expenses such as catering and reciprocity cannot be used to offset taxes at will. If 100% of the house is rented, then 100% of the reasonable expenses can also be used for tax deduction. If the house is only partially rented, it is usually tax deductible according to the proportion of the rented area. We should also pay attention to this ratio and not exceed a certain standard.

Generally speaking, buying real estate for self-occupation or renting is one of the good investment strategies, but it also has its own risks, so readers must be cautious. In addition, even if they don't have their own HOS, the rent paid by renting a house can be declared as Ontario housing subsidy.

I hope this helps.