Buying Property as a New Canadian Citizen

Can You Buy?

Yes, new citizens can purchase property. No waiting period. But: you need permanent residency or citizenship to qualify for best mortgage rates and CMHC insurance.

Before Buying

Get your Social Insurance Number (SIN). Establish credit history (takes 6 months of credit activity). Get pre-approved for mortgage.

Taxes on Property

Property transfer tax varies by province. BC: 1-5% depending on price. Ontario: none. Alberta: none. Factor this into budget. Property tax paid annually.