Housing Options for Canada

Thanks for share your tips

And I have one question what cities are cheaper to rent?

There are hundreds of cities in Canada. The more isolated or the less desirable ones are the ones with less rent and they tend to be the smallest ones. Use the 'MetroActive Neighbourhood Selector Tool' to find your ideal city.

Thank you very much Minaudo

I'll try that tool

A cheaper option if you are in the position of buying, in Vancouver, is to look for condo developments that offer properties on long-term leased land, rather than full land ownership. As much of Vancouver and the North Shore is built on native-owned reserves, many developments offer affordable condos - high-rise or townhouse style - on 99 year leased land. You might find something at half the price of a regular condo.
I don't know if such deals exist in Toronto. Best to ask a local real estate agent. Mortgage rates are at an all time low now so that also makes ownership more attractive than renting.

Graemek wrote:

A cheaper option if you are in the position of buying, in Vancouver, is to look for condo developments that offer properties on long-term leased land, rather than full land ownership. As much of Vancouver and the North Shore is built on native-owned reserves, many developments offer affordable condos - high-rise or townhouse style - on 99 year leased land. You might find something at half the price of a regular condo.
I don't know if such deals exist in Toronto. Best to ask a local real estate agent. Mortgage rates are at an all time low now so that also makes ownership more attractive than renting.

If you are considering this option, there are many things you should understand both about this type of long-term lease and mortgage financing for foreigners or newcomers to Canada. Contact me if you're interested.

Let's not forget that this is a forum for expats. As an expat based here in Canada, lets hear what they have to say about this.