Introduction to the basic types of real estate in Canada

What types of rooms are there to buy a house in Canada? What should I pay attention to when buying a house in Canada? What legal issues should I pay attention to when buying a house in Canada? And take a look at the basic types of Canadian real estate, welcome to read.

1. What types of rooms do you have to buy in Canada?

There are four types of houses. Detached (also called SINGLEHOUSE) is a single detached house built on the land it belongs to. Owners have rights to houses and land, and do not charge management fees.

Semi-detached house: one side of the house is connected with the external wall of another house, and there is no management fee.

Townhouse: There are two types of houses with management fees and without management fees, depending on whether the property is used or not, and the * * * management part belongs to other owners.

* * * CONDOMINIUM (condominium), each unit has an independent owner. He and other owners * * * have certain right to use and * * * have management fees.

Second, what should I pay attention to when buying a house in Canada?

If you decide to buy a house, you must have professionals around you to provide you with guidance. In addition, if you need a mortgage, you may need to find a lending institution or mortgage broker to help you buy a house. You should know as much as possible about the housing market before you start looking for a house.

Find out the recent trend of housing prices in interested cities or communities. At the same time, we should pay attention to the changes in interest rates. You should clearly consider the house price you can actually afford. And ask the lender or mortgage broker in advance how many mortgages you are eligible for.

3. What legal issues should I pay attention to when buying a house in Canada?

When buying a house in Canada, we should pay attention to the legal provisions of real estate: most of the land is permanently private property, but the land in Indian territory is leased, and the market price is far from private property. If you encounter leased land, try not to buy it because there is no appreciation potential.

The Canadian government has strict regulations that buyers and sellers must hire lawyers and notaries to be responsible for the transfer of real estate, and do not accept the application of the parties. Therefore, it is mandatory by law to hire a lawyer to handle the transfer procedures of Canadian real estate.