When you first arrive in Canada, buying and renting a house will definitely be involved. However, as a new immigrant, you will always feel a little unaccustomed or even at a loss when you first arrive. Now let me share some things to note when buying and renting a house in Canada.
Generally speaking, as soon as you stay in a family hotel and reveal your intention to buy a house or a car, the landlord will enthusiastically help introduce the situation and introduce familiar real estate agents and car sellers to you. , you may feel very touched. However, in most cases, they cooperate with real estate agents, and they used to get a share for introducing clients, which is much more than your house fee. Of course, if you don’t want to be introduced by them, you can also look for advertisements on various websites. Chinese newspapers also have many advertisements for brokers. The agent you find will drive you to view the property. If you pay attention at this time, you will find that some agents drive Mercedes-Benz and BMWs to pick you up, and some have Toyota barbecues. The degree of success is self-evident.
It’s not surprising for an experienced and successful agent to earn 200,000 yuan a year, and some even earn 2 million yuan. However, most brokers were eliminated in the first three years. Among those who were not eliminated, many had limited income and a low success rate. So what are the differences between these agents? I feel that first of all, there is a huge difference in personal ability and quality. Some of them have been in Toronto for more than ten years, and have been agents for more than seven or eight years. They are very mature people, and you feel a sense of trust when you make contact with them. They can clearly introduce the general situation of various areas in Toronto in a short period of time. , much clearer than what you see on the Internet. At the same time, we can provide you with advice and suggestions, help you determine your goals, and then arrange house viewings. When showing you a house, I will teach you what to look for when looking at a house, what are the advantages and disadvantages of each house. There is no urgency to push the house to you. If you read more, you will naturally choose a house that you are satisfied with.
Then, the most important thing comes. An experienced agent with strong negotiation skills will get a good price. Finally satisfied with the transaction. If you find an inexperienced agent, such as a young person who has only been working for a few months, you will find that the situation introduced to you is not as comprehensive and detailed as what you see online. As for details such as the school district and the status of the residents, they are even more vague. What he will do is search for houses on the Internet, and then drive you in a not-so-safe car to show you the house. Usually after two times, you feel that it’s not working and will change agents on your own. These newbies therefore have a low success rate. We are not Lei Feng, here to help newbies get into the industry. So my opinion is to find an established and experienced agent. Although they are generally very busy, they are not particularly interested in small-volume business. However, who doesn’t want to eat what a chef cooks? The reason why an agent becomes an agent is after a lot of examinations and training. They will take you to see the house, such as a single-family house. After the transaction is completed, the agent who buys the house charges 2.5-2.75. fee. The seller's agent charges 2.5. In theory, it is the seller who pays for it. However, it is all included in the price, and it is paid by the person who pays. For new houses and detached houses sold by developers here, they usually only pay the buyer's agent a fee of about 1,000-3,000 yuan, and no commission is paid.
Therefore, the agents here do not recommend that you buy a new house. The reasons are nothing more than remoteness, bad environment (small trees), mixed residents, immature school district, etc. Developers actively promote newly built apartments, and the buyer's agent will receive a commission of 3-4, or even 5, so they actively recommend new apartments to you. From a broker's perspective, the more expensive and higher-grade the house you buy, the better his income will be. The premise is that a deal can be concluded, otherwise everything is just talk on paper. I heard that some Chinese brokers are willing to return part of their commissions to their clients. The details are unknown. Now, when Chinese agents introduce houses, most of them will talk about Bayview, Fisherman's Village, Richmond Hill, Regal Villas, Markham, Vaughan, etc. In addition to these, there are also many good houses with first-class environment in southern Mississauga and along the lake in Oakville. If you look for this information online, you will find a lot of introductions. In addition, everyone has different concerns.
Trump has a famous saying: The first thing about real estate is location, the second thing is location, and the third thing is location. This shows the importance of location to real estate. Mentioned finding an apartment. From a buying perspective, the first thing to look at is the location.
It depends on whether the couple wants to go to work. If they work in the city center, it is very important to be close to the subway, or at least to the bus station. Another thing to look at is the surrounding environment. The security situation in some areas is very bad. It is close to government low-rent housing. It is best not to buy an apartment nearby. In North York, there are both the best areas for multi-million dollar mansions and the worst areas for public security.
Before buying a house, you must understand these clearly. If you have children, you will definitely consider the school district. Sometimes the house is very close and there are good schools, but you do not belong to this school district. This is how a couple I met bought the wrong house. Apartments generally appreciate quickly when they are new. However, after about 20 years, the cost of maintenance and management fees increase, and the price starts to fall. Therefore, when buying, you should look at the age of the property, and you should also consider it when buying.
Only the city center, near the subway stations on both sides of Yonge Street, North York Central City, etc. are exceptions. Due to extremely strong demand and limited supply, even 20-year-old apartments continue to appreciate in value, so there is no need to worry about selling them.
In terms of price, you get what you pay for. Taking the city center as an example, a one-bedroom apartment of about 700 square feet costs about 350,000-420,000, and a two-bedroom apartment of 900 square feet costs about 380,000-550,000. Depending on the location, the grade of the building, whether it is new or old, whether it has a swimming pool or gym, whether it has a parking space, etc. are slightly different. Recently, speculation in off-the-plan properties has been very popular, and many of them are speculating on high-end apartments under construction in the city center. Many of the factors to consider are the same when renting an apartment as when buying an apartment. The difference is that the rental company manages the property with strict procedures, but it is less likely to cause disputes. If you rent privately, if you encounter evil people, they will extort money on the pretext that the house is damaged. However, the management company requires proof of income, or the rent must be paid for twelve months at a time, and the rent must start for the whole year, which is still a lot of inconvenience. Near the subway branch lines, such as Bayview, you can rent a two-bedroom apartment of about 1,000 square feet for 1,500 yuan. The more expensive the apartment, the higher the quality of the tenants and the better the conditions.
Rent or buy? For example: for a 700-square-foot one-bedroom apartment, the rent in downtown is about 1,600; to buy, it is about 370,000, with a down payment of 25, a 30-year mortgage, 1,300 per month, plus management The fee is 300, but it’s also 1,600. The advantage of buying is that you will make money as the value of the house increases. But if the price drops, you will lose money.