Understanding the Canadian BuyerCanadians Buying U.S. Property
Whether looking to escape the cold or diversify their investments, Canadians are interested in buying U.S. property. Spending an average of $485,000 (NAR) on a U.S. home purchase, they are valuable clients. Learn who they are and what they want.Canadians are interested in buying U.S. property. Spending an average of $485,000 (NAR) on a U.S. home purchase, they are valuable clients and an excellent opportunity to grow your business.
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5 Reasons Canadians Buy Property in the U.S.
A home purchase in the U.S. is attractive for Canadian buyers – whether they are looking for a primary residence, vacation home or investment property. Understanding these motivations can help you connect with potential buyers, meet their needs and address obstacles that may be holding them back.
Canadians see great value when purchasing U.S. property, particularly relative to the booming real estate prices back home in Canada – where buying homes, cottages, townhomes or other vacation properties is becoming almost impossible.
Canadians – particularly retired Canadians – flock to the U.S. for the day-to-day lifestyle. Warm weather and an abundance of outdoor activities means they can enjoy being active, which is especially important in retirement. And because many Canadians will retire close to friends and family, they can experience a full social life where it’s easy to get out for shopping, dining, golfing, hiking and more.
3. Investment Security
The U.S. continues to be a secure and attractive location for Canadians looking to diversify and invest in real estate in the short and long-term. U.S. home prices have rebounded from the recession and have been appreciating consistently since 2012- with no end in sight.
4. Strong U.S. Economy
A strong U.S. economy translates to stable housing prices and steady long-term appreciation – so Canadians feel secure making a real estate purchase. It also means the home building industry is expected to continue growing, so more new units will be available for Canadians to purchase.
5. Healthy Rental Market
Many markets across the U.S. are experiencing healthy rental environments- a key consideration for Canadians who plan to rent their property for a portion of the year to offset costs. Canadians earning rental income on their U.S. property can fund their U.S. lifestyle without concern for the U.S exchange rate. Many Canadians buy homes ahead of retirement, rent it out most of the year, and pay it off before they retire.
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