Thinking of making a move to another province in Canada? Sometimes this might seem like a daunting task, especially since you might be considering moving across the country.
However, just like a regular move, before you make a move to another province (like Alberta), it is important to consider your housing options as well as their relationship with your employment and mortgage financing options.
You might be wondering, how will mortgage lenders look at you as a mortgage borrower interested in moving to another province in Canada. Another question you might be looking at is how to buy a house in another province before moving.
You might be living in another city or province here in Canada and you’ve finally decided that living in another city, maybe Calgary, is the better option for you.
Calgary is a great city to move to and according to the National Bank of Canada. Calgary grew more affordable this year, second only to Edmonton which is another city here in Alberta.
Calgary is also ranked 47th best city in the world according to an independent study by Resonance making it by far one of the best cities to move to in Canada.
In this video, I will discuss the FOUR OPTIONS you need to consider if you’re thinking of moving to another province, in this case, Alberta.
These four options are best discussed with a mortgage broker as they are the ones most capable of helping you since every situation is unique.
That being said, your options to move to another province are highly tied to your employment especially in terms of getting mortgage approval.
Getting a mortgage when relocating to a new city does not have to be painful or confusing.
If you are already thinking of moving to Calgary, check out our newest video where we discuss the Cost of Living in Calgary!
Chapters:
00:00 - The Big Question
00:44 - Why is Alberta the Best Province?
1:15 - What are your MORTGAGE OPTIONS?
1:25 - How to have a SECONDARY HOME
1:46 - Why you would buy a Rental Property in Another Province
2:30 - Get 5% Down when Moving
2:43 - Why Getting A Job Before Moving is Important
3:12 - Important Documents you should know
3:57 - What Doesn't Work
4:49 - How The Mortgage Process Works
This is LiveInnerCity’s guide on how to buy A House in Another Province – what are the 4 Things You Need To Know Before Moving to Alberta?
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Felix Chan & Jasben Lai are Calgary Realtors with the LiveInnerCity Real Estate Team in Alberta, Canada. Felix is also a Calgary Mortgage Broker and Real Estate Investor.
As your Calgary Real Estate Agents of choice, we are your one-stop-shop for all your Calgary Real Estate needs. We provide our best tips and tricks for home buyers, sellers, and investors looking in the Calgary Real Estate Market. We also dive into Calgary Communities and Home & Condo Tours.
If you want us to cover a specific real estate or mortgage topic or just have a question, please type it in the video comments below.
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