Buying or Renting a Home in Canada

Buying a Home (House) - Tips, Advice and Guide

Buying or Renting a Home in Canada

Buying a House or a Condominium

Buying a house or a condominium is a big step. You may want to wait until you have been in Canada a few years before you become a home-owner.

Most homes in Canada are sold through real estate agents, but some are sold privately. When you buy a house, you should work with a real estate agent, who will help you choose one that is right for you.

There are many hidden costs and fees in buying a house. They may include lawyer’s fees or notary’s fees, and taxes. There are also costs to maintain a house, and costs for utilities, insurance, and so on. Make sure you know exactly what your costs will be before you buy.

Unless you have enough money for the full price of the house, you will need to arrange a long-term loan known as a mortgage. Mortgage loans are available from banks and other financial institutions.

When you have decided on the house that you want to buy, your real estate agent will help you prepare a written offer. The offer normally includes a deposit. If the seller accepts the offer, it becomes a legal agreement to purchase.

When you are budgeting for your housing costs, you may have to allow as much as 35 to 50 percent of your income. This should include the cost of such things as heating, electricity and other utilities.

Buying a Home (House) - Tips, Advice and Guide

Renting an Apartment or a House

Classified advertisements in local newspapers are your best source of information on places to live. You can also ask your friends or relatives. Organizations that help immigrants will be able to help you as well.

You can also look for “Vacant” or “For Rent” signs on houses or apartment buildings in the neighbourhood where you want to live. Many landlords also advertise on bulletin boards in grocery stores, community centres or laundromats.

It’s a good idea to walk around the area where you want to live. Look for convenient parking, nearby bus routes, shopping, schools and laundry facilities (washing machines) in or near the building.

Once you decide on a price range, size and a preferred location, you should be able to identify several possible apartments. Normally, you telephone for an appointment to see a vacant apartment or a house.

Rented Apartments

Every apartment should have:

a door with a lock that opens to a common hallway or the street;
a kitchen with a sink and hot and cold water, countertop, shelves or cupboards and appliances such as a stove and a refrigerator;
closets and storage space;
a private bathroom with a sink, toilet and bath or shower.

Your apartment will be equipped with essential utilities, including:

a heating system;
light and electricity; and
running hot and cold water.

You should find out if the costs of electricity, gas, heat and water are included in the rent, or whether you will be charged extra for these services. Property taxes are paid by the landlord. You will be responsible for paying the costs of the telephone, Internet, and cable or satellite television connections.

Furnished housing should include beds, tables, chairs, lamps, curtains, basic kitchen equipment, a stove and a refrigerator. Unfurnished housing may include a stove and a refrigerator, but not always.

Rented Houses

Renting a house is similar to renting an apartment, but it will cost more. Rental houses are not usually furnished.

If you rent a house, make sure you inquire about appliances. Some rented houses do not include a stove and fridge. Others may include more appliances, such as a clothes washer and a dryer.

The tenant usually pays for utilities and heat in a rented house.

Signing a lease

Once you agree to rent an apartment or a house, your landlord may ask you to sign a lease. A lease is a one- or two-page agreement that describes the rental property, the cost and the utilities that are included. It may also say whether a parking spot or a storage area is included, and whether pets are allowed.

Most leases are for one year. Be sure you understand which utilities you will have to pay for and which will be paid by the landlord. Find out if there is a penalty if you leave before the end of the lease. You will have to make an initial payment, possibly the first and last month’s rent. You may also be asked for a damage deposit, which will be returned to you when you leave if you have not caused any damage to the property beyond normal use.

Knowing Your Rights

If you rent an apartment or a house, both you and your landlord have certain legal rights. There are laws that protect you from sudden increases in your rent, or from being forced to leave your apartment. You are responsible for keeping the apartment or house you are renting in good condition.

You have the right to live anywhere you choose. The Canadian Charter of Rights and Freedoms protects you from discrimination on the basis of colour, creed, sex, age or disability. Provincial laws also protect tenants from discrimination.

If you have questions, call the provincial or municipal government department that is responsible for housing. You will find the information you need in the provincial or municipal government listings of the telephone book under housing or rental board.