Real Estate

Buying house in Alberta while living/working in BC

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  • Jul 24th, 2021 5:37 pm
[OP]
Sr. Member
Apr 23, 2014
964 posts
427 upvotes
Toronto, ON

Buying house in Alberta while living/working in BC

I plan to move to Alberta later this year (transfer location of my job/find new one).

Right now there is plenty of inventory I see, rates are low, and it's not snowing there so I can visit and find place better than later in the year.


Will bank still give me 100% of loan as if I were buying in BC? Currently I've no expenses, live rent-free, and while I can afford condo here, I prefer to just move to Alberta and get a bigger place.


Maybe i'll stay in BC and can put the place on rent in the meantime, that's undecided. But i've developing strong preference in just getting a property in Alberta.
7 replies
Deal Fanatic
Apr 5, 2016
6019 posts
4487 upvotes
Calgary/Vancouver
You can buy property in Alberta while being a BC resident. A lot of people do it. Just don't plan on buying in Alberta for investment purposes.
[OP]
Sr. Member
Apr 23, 2014
964 posts
427 upvotes
Toronto, ON
bomber17 wrote: You can buy property in Alberta while being a BC resident. A lot of people do it. Just don't plan on buying in Alberta for investment purposes.
But do I get same loan terms? Max ratio, low rate etc?

Buying to live there.
Deal Fanatic
Apr 5, 2016
6019 posts
4487 upvotes
Calgary/Vancouver
vanclty wrote: But do I get same loan terms? Max ratio, low rate etc?

Buying to live there.
Yep same exact terms and conditions.
Member
Feb 2, 2011
255 posts
49 upvotes
bomber17 wrote: You can buy property in Alberta while being a BC resident. A lot of people do it. Just don't plan on buying in Alberta for investment purposes.
Why can't someone in BC buy in alberta for investment purposes?

I'm in Ontario and here few rental properties in AB
Deal Fanatic
Apr 5, 2016
6019 posts
4487 upvotes
Calgary/Vancouver
ediasn wrote: Why can't someone in BC buy in alberta for investment purposes?

I'm in Ontario and here few rental properties in AB
You can, but the investment opportunity is better off somewhere else IMO.
[OP]
Sr. Member
Apr 23, 2014
964 posts
427 upvotes
Toronto, ON
bomber17 wrote:
You can, but the investment opportunity is better off somewhere else IMO.
You never know calgary homes going up 30% like some other cities in Canada.

Once people see small spike, everyone rushes in.
Deal Fanatic
Apr 5, 2016
6019 posts
4487 upvotes
Calgary/Vancouver
vanclty wrote: You never know calgary homes going up 30% like some other cities in Canada.

Once people see small spike, everyone rushes in.
I like the increases in Abbotsford and Chilliwack more.

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