As of the end of June 2023, over 162,568 Ukrainians have made the decision to to Canada under the Canada-Ukraine Authorization for Emergency Travel (CUAET). Many of them have successfully settled and secured their dream jobs, which has sparked an interest in investing in real estate in their new country. If you are Ukrainian coming to Canada under CUAET and wish to purchase property, here are the steps to guide you through the process:
#1 Research the Canadian real estate market
It is essential to familiarize yourself with the Canadian real estate market before making any big purchasing decisions. Take the time to understand property prices, market trends, and regions that interest you. Consider factors such as economic growth, employment opportunities, amenities, and proximity to schools or transportation.
#2 Connect with a mortgage agent
Evaluate your finances and determine how much you can afford to spend on a property. Contact IK Financial mortgage agents that are experinced in working with newcomers and international buyers. Our team will complimentary help assess your financial situation, guide you through the mortgage process, and provide you with a clear understanding of your borrowing capacity. Experience the difference with IK Financial and take the first step towards securing your dream home or investment by booking a complimentary call at ikfinancial.com.
#3 Engage a real estate agent
To navigate the Canadian property market effectively, seek the assistance of a reputable and licensed real estate agent. A knowledgeable agent will have a deep understanding of the local market, access to a wide range of properties, and the expertise to guide you through the purchasing process. They will take into account your preferences, budget, and desired location to help you find suitable properties.
#4 Hire a real estate lawyer
It is crucial to protect your interests throughout the purchasing process by hiring a specialized real estate lawyer. The lawyer will review the purchase agreement, conduct necessary title searches, ensure all legal requirements are met, and guide you through the closing process.
#5 Hire a home inspector
Before finalizing the purchase, hire a professional home inspector to assess the property's condition. They will conduct a thorough inspection, evaluating the structural integrity, electrical systems, plumbing, and other essential aspects of the property. This step will help identify any potential issues or repairs that may need attention.
#6 Closing date
Once all the necessary steps have been completed, including securing financing, conducting inspections, and finalizing legal requirements, it is time to set a closing date. This is the day when funds are transferred and you officially become the owner of the property.
IK Financial also has all the tools you might need to succeed in your home-buying journey. Our user-friendly website is a comprehensive resource hub, providing you with everything you need to make informed decisions and navigate the mortgage process seamlessly. Explore our:
- Home Buying Guides, which offer valuable insights and tips to help you understand the home buying process.
- Utilize our Mortgage Calculators to estimate your monthly payments, affordability, and potential savings.
- Find answers to common queries in our Frequently Asked Questions section, addressing key concerns you may have.
- Stay up-to-date with the latest industry trends and mortgage news by signing up for our informative Mortgage Newsletter, and much more.
By following these steps, Ukrainians coming to Canada under CUAET can navigate the process of purchasing property in Canada. It is important to do thorough research, seek professional guidance, and make informed decisions throughout the process. Investing in real estate can provide stability, security, and a sense of belonging as you embark on your exciting journey in Canada. IK Financial is here to support you every step of the way, offering expertise, resources, and personalized assistance to make your dream of owning property in Canada a reality. Visit ikfinancial.com to book your complimentary call with a licensed mortgage agent.
IK Financial Mortgage Team operates on behalf of Mortgage Edge. Lic#10680
