It’s April. Yet, we’re still anticipating another snow storm to hit Toronto. The winter jackets just aren’t ready to hit the storage but many Canadians were (mentally) done with winter weeks or months ago.

The thoughts of nightmare snowstorms drive us to board airplanes to the warmer climates of Central America. Costa Rica is one of the spots that are top of mind for those sick of the freezing outdoors and, with enticing real estate prices and a recent decade of development, some Canadians are permanently leaving the wintery north for a home in Costa Rica.

While uprooting yourself and your family to move to a country in Central America may seem like an outlandish idea, buying property in Costa Rica, whether as a home or as an investment, is becoming a more common trend among North Americans, says Gabriel Araya, a property specialist at Costa Rica Sotheby’s Realty.

Costa Rica has no army, low taxes, amazing weather, and a lot of flora and fauna. The country is also foreign friendly from a variety of perspectives and a short flight from the US and Canada.

The Process

Foreigners can purchase property in Costa Rica the same way locals do. The first step is to find an agent to draft an offer and negotiate the pricing and terms. When the buyer and seller reach an agreement, there is typically a 10% deposit. A government-registered escrow account should hold the deposit. And final closing typically occurs 30-60 days after both parties agree on terms and pricing.

This condo at Reserva Conchal is for sale at $1,100,000.

Types of Property

There are some restrictions on where individuals can purchase property. Maritime land zones are one of said restrictions and consists of the first 200 metres from the average high-tide line. The first 50-metre belt is completely off limits to ownership of any kind, while the subsequent 150 metres are subject to concession rights. The respective Costa Rican municipalities are in charge of granting such concessions as well as receiving payment for them. Concession properties are usually loaned out on 20-year leases and come with a plethora of building restrictions.

On top of that, there are also rules that bar foreign entities from owning more than 50% of any corporation with Maritime-zone land in its portfolio. Hence, those looking for a beach-front property will have a bit of trouble finding a permeant home facing the water.

Golf Course

As a foreigner, you can purchase titled property, which is the most common type of property to buy in Costa Rica. Titled property is property where information about it is accessible through the public registry of its respective municipality.

Foreigners commonly purchase these properties as a corporation, due to the various corporate benefits, as opposed to purchasing as an individual. Corporations have several tax advantages on rental income and capital gains and, upon sale, a corporate status can lower transfer taxes by simply passing over the corporation instead of the estate. Lastly, in the event that the estate owner passes away, a lawyer can distribute shares of the corporation to the beneficiaries instead of distributing parts of the estate.

This Spanish-Colonial style condominium at Reserva Conchal is for sale at $369,000.

Costs

Property prices vary, says Araya:

Prices depend on the buyer’s objective and the property’s locations. Variations are high, from the range of $100,000 to $1M is all fair game. [However], prices are the same for anyone, regardless of where they are from.

Therefore, unlike many places in Canada, buyers are not subject to foreign buyer taxes.

Buying property in Costa Rica comes with a variety of fees:

• Title transfers can cost between 3-4.5% of the property value and is split between buyer and seller.
• Fees include a 1.25% notary fee, 1.5% or 2.5% for government stamps (1.5% if it’s transfer of corporation shares and 2.5% if it’s transfer of property), and 0.25% for escrow fees, as well.

This condo in Santa Cruz is for sale at $640,000.

Costa Rica has a relatively low property tax of 0.25% of the public registry’s record of the property value. For more expensive properties, there is also an additional “luxury tax” which can range from 0.10-0.25%.

Things to be cautious of

While property investments in Costa Rica tend to be safe (Costa Rica is the longest standing and stable democracy in Central America), there are a few things to watch out for. Costa Rica has an unregulated real estate market, warns Araya:

The rest estate market is not regulated—there is no way to compare pricing or to have full transparency of what is available on the market. Proper due diligence is a must in order to not be a ‘sucker’.”

There are also no official criteria to meet for individuals to become a real estate agent; however, you can inquire whether an agent belongs to a national association, such the NAR (National Association of Realtors), CCBR (Costa Rican Real Estate Association), or CRGAR (Costa Rican Guanacaste Association of Real Estate), to make sure that they’re legitimate.

Bedroom Ocean Views at Santa Cruz

After your deal closes, work with your lawyer to make sure that the property is registered under your name/corporation and that you keep documentation in a safe place. Araya advises to

make sure to get a reputable attorney, as well. Do not attempt to cut corners and do not overestimate how much you know.

After the deal closes, squatters can be another concern due to Costa Rican laws that allow a person to acquire rights to a property if the property owner allows a person to use or maintain the estate for more than a certain timeframe.

Beach at Reserva Conchal

The property owner should evict any squatters within the first three months or else the squatter may not be evicted at all, and if there is no action within the year, the squatter can demand compensation for any improvements to the land. To avoid squatter problems, hire a property caretaker to inform you if a squatter invades. However, make sure to keep records of your payment to them or else the caretaker can turn into a squatter, as well.

The popularity of Torontonians living comfortably in their home while earning an additional income by renting out their basement is on the rise. It offers convenience in affordability for renters that are students, young professionals or seniors. Aside from it being a trend, Ontarians need to be familiar with real estate codes and bylaws before turning a basement into a rental property. It also applies to homeowners renovating an unfinished basement for renters to live.

If you have an interest in purchasing a property with a basement apartment or plan to earn extra income through renovations, this information will help.

Thinking about creating your first investment property? Click here to read our list of Dos & Don’ts of Being a Toronto Landlord.

Basement Apartment Terms to Remember

In an interview with Richard Silver, the Senior Vice President of Sales at Sotheby’s International Realty Canada he stated:

It is important for home buyers to find out if a property is an auxiliary apartment if it is legal and all fire code requirements are met.

As you search for a new single-family home that has a retrofit and legal basement apartment, here is a list of words to remember. The words listed below are used to describe a basement apartment:

• Auxilliary apartment
• Dwelling unit
• In-law suites
• Granny flats
• Two-unit house
• Second suite

Another important point to remember is that a garage in a single family home can be renovated to serve as a basement apartment.

Rental basement apartments are a lucrative business, but they can be a concern to neighbours at the same time. A house that is not legal or retrofit can have an unfit parking space, overflowing garbage and could post a safety concern for all individuals living in the property and the property of neighbours. There are cases where a homeowner purchased property while under the impression the dwelling unit was legal and retrofit, later to find out their home is not fit for the safety of a renter.

So how to make sure you’re in the clear with your basement apartment?

Looking for more tips about real estate investment? You might like these blog posts. 

• What Canada’s Home Flipping Tax Means For Sellers
• The Best Toronto Neighbourhoods to Invest in
• 5 Things to Know Before You Buy in Downtown Toronto

THE DEFINITION OF LEGAL STATUS

A basement apartment is considered ‘legal’ if:

• it passes the Fire Code and electrical safety requirements
• the municipality registers the unit
• it follows local bylaws

If you’re thinking of buying a property with a basement apartment, pay attention to online advertisements, contracts or documentation on the specifics of a property with a rental unit in the basement. In reality, almost 80 per cent of all advertised basement apartments don’t comply to the rules and wouldn’t be considered legal.

As Bob Aaron, Toronto real estate lawyer, stated in his article about retrofit:

If a real estate sale listing describes a home with a basement apartment using the toxic word “retrofit” — which applies only to Fire Code — the best thing to do is to find out why the unit doesn’t comply and what would be necessary to legalize it.

Always your realtor to confirm if the property is legal before purchasing a property and request an inspection to confirm this information.

If you’re a home owner and you’re thinking of adding a basement apartment or renting out your not-entirely-legal apartment, here’s what you need to know.

Adding a new unit

The concept of a basement apartment needs to be inline with the Zoning Bylaw which is available at your local City Hall. An application for a building permit needs to be completed and handed in.

If you have a property with a basement apartment, request a Certificate of Compliance from your nearest Fire Department. The certificate is granted after the fire department reviews the home first. You can contact the Municipal Property Standards for this certificate.

The Electrical Safety Authority can help with reviewing your electrical system. If the unit fails inspection, they will give you recommendations for the necessary upgrades. It is the responsibility of the homeowner to complete upgrades before renting the unit to tenants.

• Inspections for fire code compliance cost between $120 and $300.
• Inspections for electrical safety cost $79.

WHAT A BASEMENT APARTMENT NEEDS

The requirements for a basement apartment will depend on your location. There are a few rules that apply:

• Basement apartment ceiling must be 6 feet 5 inches
• Bathrooms require an exhaust fan and a window
• One parking spot for basement renters
• The door needs to be 32 inches by 78 inches

Building code vs. fire code

Building code is a code that applies the day the property was built, it changes over the years, but you don’t have to upgrade your house to comply with the new changes, since the code doesn’t apply retroactively.

The Fire code is a part of the building code, and it prescribes construction and saftey issues related to how the property should perform in the case of a fire. The fire code CAN apply retroactively.

So what does retrofit mean then?

Since the Fire code applies retroactively, that’s where the phrase “basement retrofit” comes from. Once a Fire Code is developed, it applies to all basement apartments, existing and future ones, which means that the owners of existing apartments have to upgrade their properties to comply with the new code.

The Ontario Fire Code was established in 1994. It holds the owner of property responsible for the safety of renters living in their basement. Before the request for a Fire Code in 1994, single-family homes with basement suites built between July 14, 1994, and November 16, 1995, were exempt from the Zoning Bylaw.

Basement Suite

Today, if you’re thinking about adding a basement apartment you have to:

• check the zoning bylaw (Bill 140) at the City Hall Buildings Division to find out if basement apartments are allowed in your area
• if they are allowed, apply for a building permit, keeping in mind that you will have to comply with today’s building codes

The Bill 140 was created by the Government of Ontario in 2010 for the Affordable Housing Act. The bill applies to single family home zoning laws which include a townhouse, detached or a semi-detached house.

What makes a basement apartment retrofit?

A few examples that make a basement apartment retrofit include:

Fire containment

The fire in the unit must be contained long enough to get all the tenants out of the property. That means that the walls, floors and ceiling of your basement apartment should be able to control the fire for at least a couple of minutes.

The usual requirement is that the component lasts at least 30 minutes. According to Carson Dunlop’s report on retrofit, drywall and plaster are acceptable but suspended ceilings are not. You can’t have expoised joists in the furnace room, te celing must be continuous. Any doors should be metal or solid wood, at least 1 3/4 inch thick.

Basement Exit

Means of egress – Escaping the home

There needs to be easy access to exit in case of a fire. If each unit has its own exist, that’s the ideal situation. A shared exit for all units is allowed only if it’s ‘fire separated’ from both units with a 30 minutes rating. If this is not true, you can still use this common exit, but only if there is a second exit from each unit and the fire alarms are connected. Carson Dunlop lists and example:

There is a common exit area but the common area does not have a 30 minute fire separation between both the units. If there is an “acceptable” window for an escape route and the smoke alarms are interconnected, we are all set.

An “acceptable” window means:

• it has a windowsill within 3 feet of grade
• the smallest dimension is 18 inches
• the opening is at least 600 square inches
• if there is a window well on a basement window, it must extend 3 feet out from the wall, to allow enough room to crawl out

Electricity is up to par with safety codes

The owner has to ask the Electrical Safety Authority for an electrical inspection. Any discovered deficiencies must be addressed.

Fire detection

Each unit has to have a smoke alarm. The owner is responsible for making sure that there are smoke alarms and that they’re maintained. The alarms don’t have to be interconnected unless the fire separation to the common exit area doesn’t have a 30 minutes rating. (It has to have at least 15 minutes rating.)

A common mistake home buyers often make is assuming that retrofit means a legal basement apartment. There is a difference between fire code requirements and the requirements of a legal basement apartment.

The owner is responsible to make sure the apartment is up to the above mentioned rules. If the renter or neighbour report the owner for having a basement apartment that is not up to Fire Code standards they can be sent to prison or fined. The fine can be up to $25,000 for an individual and $50,000 for a corporation. Remember that anyone can make a request to the city to have your basement apartment inspected. A tenant has the legal right to request their landlord to bring their dwelling unit up to Fire Code requirements.

Richard Silver explained that a common mistake home buyers make is “assuming that retrofit means a legal basement apartment, There is a difference between fire code requirements and the requirements of a legal basement apartment.”

Remember that while these guidelines are still fairly loosely enforced, enforcement has become stricter over time and it’s only likely to become even stricter.

So remember, just because your basement apartment is retrofit, it doesn’t mean it’s also legal.

Many Torontonians are living the basement rental dream. It is a lucrative business that comes with hard work with long-term benefits. Think of the vacation or personal debt that can be taken care of with the extra income. Not to mention it is a big selling feature if you decide to sell the property one day. Just make sure that the dwelling unit meets the Fire Code, safety code, and legal requirements.

Looking to purchase or build a profitable income property? As seasoned experts in Toronto real estate, our team would be happy to assist you. Click here to get in touch.

• 11 SOHO ST., NO. 403, TORONTO
• ASKING PRICE: $879,000
• SELLING PRICE: $931,000
• PREVIOUS SELLING PRICE: $599,000 (2007); $324,441 (2003)
• TAXES: $4,095 (2017)
• DAYS ON THE MARKET: one
• LISTING AGENT: Jim Burtnick, Sotheby’s International Realty Canada

Jim’s listing at 11 Soho St., #403 was featured in the Globe and Mail’s Done Deals section today. The two bedroom corner suite in the boutique building “Soho” was sold in a day to a buyer who never even visited the condo! Here is the whole story, originally posted on theglobeandmail.com.

The Action: Around the end of last year, units at Phoebe on Queen took anywhere from a few days to a few weeks before trading hands. But this two-bedroom corner suite was quickly snatched up by a buyer who never set foot inside.

“It sold over asking in multiple offers, unconditional, within a day of it hitting the multiple listing service,” agent Jim Burtnick said.

“This shows that the condo market is still leading the way in terms of real estate demand out of all housing types.”

What They Got: In a mid-rise building with about 30 units, this 1,165-square-foot suite is anchored by an open kitchen. The dining area and living room has nine-foot ceilings, west-facing windows and terrace doors.

Off to the sides are bedrooms and bathrooms. The private master ensuite also has laundry facilities.

Parking is included. Monthly fees of $738 pay for water, heating, concierge, fitness and party rooms.

The Agent’s Take: “This unit was larger than most,” Mr. Burtnick said.

“And when these were built about 15 years ago, builders took more care to make decent sized bedrooms and separate them. In newer buildings, they try to fit more in a smaller space and put the bedrooms side by side.”

Originally posted on The Globe and Mail by Sydnia Yu.

SK00SK

On Saturday, February 17, 2018, when Canadian Prime Minister, with his family, arrived in India for a week-long visit to discuss business and trade, it became evident that India’s presence in Canada is much more than mere numbers.

Though Canada is home to immigrant communities from all around the world, Indo-Canadians are one of the fastest growing communities in Canada. According to Statistics Canada, this makes them the second largest non-European ethnic group in the country after Chinese Canadians. Toronto has the largest Indo-Canadian population in Canada. Almost 51 per cent of the entire Indo-Canadian community resides in the Greater Toronto Area (GTA), 20 per cent in the Greater Vancouver Area (GVA), followed by growing communities in Alberta and Quebec. Most Indo-Canadians in the Toronto area live in Brampton, Mississauga, Markham, Scarborough, and Etobicoke.

Indo-Canadians have a strong presence in Brampton, where they represent a third of the population. Likewise, around 20 per cent of the entire Indo-Canadian community resides in GVA and nearby areas like Surrey, Burnaby, Richmond, Abbotsford and Delta. Of late there has been a surge in the number of Indians, moving to other areas outside of GVA. The City of Surrey has over 107,000 South Asians which makes up about 30 per cent of the City’s population. South Asian Canadians are those who were either born in or can trace their ancestry to South Asia that includes nations such as India, Pakistan, Bangladesh, Sri Lanka and Nepal.

Brad J. Henderson, President and CEO at Sotheby’s International Realty Canada (SIR) who founded the Indian Service Group in 2017 gauged the potential of this particular segment and how it will positivity impact the Canadian real estate market.

The Indian Service Group at SIR was formed because of several reasons. Firstly the idea was to capture more incoming and domestic spend associated with Indian buyers and sellers of residential real estate. We also want to partner with commercial real estate brokers to refer commercial investment opportunities and also provide a service that can be leveraged by other SIR Canada team members.

In addition to this, the Indian Service Group concentrated on more efficiently interacting with Sotheby’s International Realty affiliates in India as well as connect with other India Services Groups throughout North America and the world. “This helped us in significantly improving our capability and services to the market and our clients, thus, are recruiting more Indian real estate professionals in Canada,” adds Henderson.

Rizwan Malik, Senior Vice President-Sales at SIR Canada was eight when he moved to Canada from Pakistan.

I moved right to downtown Toronto with my family. People mostly back then would move to the City, however, in the last 20-30 years, the suburbs have developed quite a lot in regards to amenities, services and connectivity. This has become a huge draw for South Asian communities who are immigrating and settling in suburbs by purchasing properties.

Malik credits education as well as the healthcare system, stable economy and public safety as some of many reasons for people to immigrate to Canada. In regards to settling in the suburbs, he feels that it is convenient as the homes are larger, newly built, less expensive and last but not the least there is a sense of community. “This is especially important for newcomers who can otherwise find a big new city like Toronto overwhelming,” he adds.

Malik notes Milton and Oshawa are some new suburbs that are currently attracting a large number of South Asian communities of late.

In my opinion, 20-25 per cent of South Asians are living in the City while the rest are settled in the suburbs. I meet an average of two to three South Asian clients in a month and they mostly want to be in the suburbs unless they are in university or college then they want to be right in downtown.

Scores of foreign students choose to study in Canada especially in Ontario as well as British Columbia because of their internationally renowned education, better job opportunities, and the higher standard of living. In 2016, India topped the list with 33 per cent of students pursuing education in Canada, followed by China with 26 per cent. A report from the University of Toronto states that in 2017, Canadian colleges and universities admitted 100,000 students from India. Indo-Canadian students are well represented in Toronto-area universities; students of Indian origin make up over 35 per cent of Ryerson University, 30 per cent of York University, and 20 per cent of the University of Toronto’s student bodies, respectively.

When it comes to trade and commerce, the relations between both the countries are going uphill. From past two years, bilateral trade between India and Canada has increased by nearly 30 per cent. In 2017, two-way merchandise trade between Canada and India was $8.4 billion. Canada mainly imports pearls, organic chemicals, pharmaceutical products, textiles, bicycles and motorcycles from India. It exports vegetables, paper, fertilizers, wood pulp, iron and steel and precious stones to India. In 2017, about 150 Indian companies visited Toronto, to seek new partners, find opportunities to launch start-ups, explore investment opportunities, and identify new products and technologies.

Canadian Prime minister Justin Trudeau, on his most recent visit to India, met with six of India’s most influential business tycoons, resulting in partnership that will create more than 5,000 new jobs as well as invest more than $250 million in Canada in the coming years in everything from pulp mills to pharmaceuticals and the IT sector.

Great to see Prime Minister @narendramodi again today in Delhi. Thank you for the warm welcome & productive talks on how Canada & India will collaborate more closely, creating more jobs and opportunities for people in both our countries. pic.twitter.com/HqmhMNk4W5

— Justin Trudeau (@JustinTrudeau) February 23, 2018

India plays a pivotal role in strengthening Canada’s economy through major contributions in all the three important sectors – real estate, education and business. With the change in United States of America’s foreign policy, Canada is seeing a very strong improvement in the above-mentioned sectors and is not stopping anytime soon.

Title photo by betty_xo

PS00KV

We’ve all heard the old adage about “the American dream”, but modern opportunities, volatile political climates and the friendly reputation of Canada has more and more people revising this statement to encompass “the Canadian dream”, and part of that means international students looking to study in Canada. Just last year, ICEF Monitor reported that Canada saw an eight percent increase in international students, a trend that started a few years ago, and then experienced a spike since the 2016 U.S. presidential election with many schools seeing a 20 percent increase in applications.

University of Toronto is the top draw among prospective international students, who made up 20 percent of the school’s student population of 17,452 students of undergraduate and graduate students last year alone.

Interested in studying abroad in “The True North strong and free”, it’s time to get cramming. Here’s the CliffNotes version for International Students on everything you need to know if you wish to study in Canada.

Why Canada?

More and more Americans are finding studying in Canada to be a relatively low risk way to spread their wings, and explore another country, that in many cases is only a lengthy drive or train ride away from their home down south of the boarder. Ben Elling says he decided to study in Canada because it was close and familiar:

Growing up my family spent much of our vacation time hiking and canoeing in Ontario, and it always felt like a second home to me. When my girlfriend (now wife) decided to go to University of Western Ontario it seemed like a good opportunity to spend some more time in Ontario.

Other people, like Amber Goodness, decide that they are able to get more bang for their educational buck by moving to study in Canada in relation to comparable schools in the U.S.:

I decided to go to Queen’s University because it was much cheaper than going to school in the US (I went as a dual citizen) and it was a high-caliber school compared to many I was applying to in the US. It was technically my ‘reach’ school and therefore when I got in, I knew I needed to go there. I also loved the area and loved how I was going back to Canada for part of my adult life.

Where to study in Canada?

At the moment, the most popular provinces among international students are Ontario, British Columbia and Quebec. A total of 26 Canadian Universities are featured in QS World University Rankings for 2018, and the most popular of them are:

• the University of Toronto
• McGill University
• the University of British Columbia
• the University of Alberta
• Université de Montréal
• McMaster University
• the University of Waterloo
• Western University
• the University of Calgary

Old Montreal

Student Visa & Application Process

Each school has its own standards and timelines for those wishing to study there, so take a good look at those deadlines and what’s required for the specific institutions where you’d like to study, with the general recommendation being that all international students apply to their colleges and universities of choice around a year before they want to begin their study.

Amber Goodness says it’s not that different from application process in the States:

The application process was very similar to applying to schools in the states, just a different application. Although there is no SAT in Canada, as a dual citizen, I needed to provide my SAT score and it needed to meet the minimum requirements to be accepted.

The schools should easily be able to provide information on:

• the cost of the application, tuition fees,
• rent/dormitory fees,
• required health insurance,
• and whether or not language tests will be necessary.

All students will need their high school transcripts, like any post-secondary application, may be required to pass a medical exam to prove they are in good health, and will need a valid passport.

In comparison to the USA application program, Canadian students are asseed primarily based on high-school grades and an application essay. Sometimes SAT scores are required as well. However, Canada doesn’t have a Common application, unlike the U.S., so students have to submit a separate application to each of their desired universities.

University of Toronto – St. George Campus, Toronto, Canada

The Cost Of Study in Canada

Canadian students pay around 5,000 CAD/year of tuition. In comparison, the average tuition for private universities in the United States is $32,100/year. International students in Canada pay a higher rate to study than Canadian students, with some paying nearly 30K per year to study, which is still lower than what an international student would pay in the U.S., which is around $24,930.

Undergraduate fees in Canada

• According to Statistics Canada, the average tuition fees for international students (2017/2018) are around 25,180 CAD per year.
• Medicine and engineering are among the most expensive, with an average of 28,625 CAD
• Business and management course fees are lower than average at 24,683 CAD

Postgraduate fees

• The average tuition fee in 2017/2018 is 16,252 CAD/year

This rate is not much different than American education fees, but many Americans feel it’s worth the investment.

Ben Elling says:

The international tuition rate seemed reasonable to me, especially when compared to some of the private universities in the US, and not far off some of the state universities.

For Amber Goodness, the savings on tuition were very significant:

Financially, going to school in Canada was MUCH cheaper than going to the same level school in the United States. If I compared it to a similar school down here, the difference would be around $20,000 per year.

Scholarships

If you’re looking for ways to finance your studies in Canada, there are scholarship options available to international students. Most Canadian universities have their own scholarship programs you can apply for. Make sure to apply as early as possible even before you apply to a school. If you’re coming from other Commonwealth countries, make sure to check out the Canadian Commonwealth Scholarship Program. The portal TopUniversities.com compiled a guide to scholarships in Canada that’s worthwhile checking out too, you can find it here.

The Cost of Living in Canada as an International Student:

According to University of Toronto, below are estimated costs of living in Toronto, Mississauga and Scarborough in 2018-19.

Estimated living and studying costs for the academic year (8 months):

• Food: 1604 CAD – 3700 CAD
• Clothing: 900 CAD – 1100 CAD
• Local Transportation: 934 CAD (116.75 CAD per month)
• Books, supplies and instruments: 1000 CAD – 2000 CAD+
• Miscellaneous: 1000 CAD – 2000 CAD

[fvplayer src=”https://www.youtube.com/watch?v=eqnfjRb9Li8″ splash=”https://torontoism.com//images/2018/03/uoft-st-george-campus.png” width=”783″ height=”522″ caption=”Living at the U of T St. George”]

The Université de Montréal’s research shows students need 15,050 CAD per year including housing, food, accommodation, books and school supplies, phone costs and other expenses. The University of British Columbia in Vancouver estimates the living costs for students to be at 15,500 CAD/year, excluding mandatory health insurance (864 CAD/year).

Comparing with US study programs 

Ben Elling said a major difference he found between his study in Canada vs. U.S was a greater emphasis on streaming towards a particular degree early on:

Generally in the US first year is composed of a range of classes (e.g., I took astronomy and fencing as my electives while tracking towards an English major). I found in Canada there didn’t seem to be that same flexibility in first year.

University of British Columbia classroms, by Jay Banks

After visiting a U.S. university during her studies in Canada, Amber knew she made the right choice:

When I was in my first year, I went to visit my friends at the local state school that I almost went to in Connecticut and I was shocked how it reminded me of a high school classroom versus a college classroom.

Working While In School

There are some loopholes that can be taken advantage of, for American and International students who wish to work in Canada while studying, where they won’t be required to get a work permit.

Anyone with a valid permit of study who is a full-time student can work on campus at the school, however anyone who wants to work off campus will need to obtain a work permit which can be applied for through Citizenship and Immigration Canada.

How Do I Stay If I want to?

Ben Elling decided to stay in Canada because he didn’t like the situation in the U.S. back then:

While the degrees I obtained in university would likely translate to some US jobs, by the time I finished school I was certain I did not want to go back to the US. George W. Bush had been elected not long after I left the US and it sure seemed like things weren’t trending particularly progressively down south.

Amber Goodness on the other hand, returned home:

I found it very expensive to live in Canada compared to the U.S., particularly groceries and all the other living costs, which influenced my decision. I also returned back to the US because my family was in the States and I was in a serious relationship with someone living in the U.S. in my second and third year of study. I think if I was not in a relationship, I would have considered staying in Canada for a couple of years. I ultimately would have wanted to get my Masters of Education where I planned on settling long term, so I think I would have returned to the US at some point anyway.

International students who study in Canada may be eligible for a special work permit that will allow them to stay in the country for employment for up to three years after graduation, provided they are granted a Post-graduate work permit from Citizenship and Immigration Canada.

Downtown Toronto

Those who want to stay permanently in Canada can apply through the Provincial Nominee status to the federal government. To be eligible for this, applicants must be a recent graduate or graduating soon from a publically funded Canadian College or University (in Canada) and have a qualifying permanent full-time job offer from an employer located in their chosen province. People who have their Masters or PhD’s can apply without a job offer in hand.

Former student turned Canadian citizen Ben Elling says,

From my experience, I found that if you didn’t have a partner or sponsor of some sort, staying on when you finish school as an international student took a lot of work. I think it could certainly be made a bit easier to transition from being here as a student to applying as a permanent resident. I think there should also be a greater emphasis on attracting international students to trades schools and technical colleges.

Before Doing Anything, Research Your Future Stomping Grounds

A road trip or visit to Canada before applying to a school could be a smart choice to ensure your selection meets the needs and expectations of your university/college experience. Former Western student Ben says,

Take the time to research the area where you think you’ll want to go to school. While University of Western Ontario was a great choice and I don’t regret it, London turned out to be a fair bit smaller than I expected.

SM00KV

Tracy was recently interviewed for WSJ’s article about the Chinese New Year and the symbolism of numbers 8 and 18, which spoken in Cantonese sound like  ”prosperity” and “I want to be very wealthy”, in that order. Since we’ve entered a year that ends with number 18, it is expected to be a very lucky and therefore considered to be a good year to invest in real estate by many Chinese buyers.

Here is an excerpt from the article, you can read the whole version here.

Chinese will soon be celebrating the Year of the Dog. It could also be the Year of the Deal.

It has long been known in real-estate circles that an address or price that includes the number eight—which when spoken in Cantonese sounds like the word for “prosperity”—can make a property more popular with Chinese buyers. Now some real-estate agents are reporting a reaction to the auspicious year of 2018: The number 18, when spoken out loud in Cantonese, sounds like the phrase “I want to be very wealthy,” says Kelly Xie, a Toronto-real estate agent for Century 21.

Janet Wang, a real-estate agent with the Corcoran Group in New York City, says five of her clients suddenly went from casual browsers to active property seekers. “These clients have been looking for a while, then—I don’t know if it’s related to 2018—but around December 23 or January 1, suddenly they say, ‘OK, this year we’re really going to look.’”

Carrie Law, chief executive of Juwai.com, a Chinese international real estate website, says she knows of Beijing-based buyers who were ready to purchase a home in the $5 million range in New York City last year, but postponed the purchase so they could buy this year instead. “There may have been other factors at play, but that’s the reason they gave us,” she says.

While real estate veterans aren’t banking on a big 2018 bump, Christopher Wein, president of the Toronto-based development company Great Gulf, says the number 2018 very well could spark “enhanced” market activity.

Besides investing in a Shanghai office and equipping its sales sites with Chinese-speaking staff and Chinese-language marketing material, Great Gulf pays attention to lucky numbers. A pre-sale offering of 65% of the units at its desirably located 8 Cumberland Street development sold out in a month, says Mr. Wein.

Chinese numerology has long been an important factor in certain real-estate markets. While the number eight is always beneficial, the number four—which sounds like the word for death—is to be avoided. In the greater Toronto city of Markham, where nearly half the population self-identifies as Chinese, “sellers have to put an eight in the price, and you try your hardest to avoid four,” explains Anthony Tomasone, a real-estate agent with the online listing and referral service
Zoocasa.com.

From January to May 2017, 66% of all Zoocasa’s Markham listings contained at least one eight in the offer price, up from 25% in the first three months of 1990 and 35% in the first three months of 1995. In non-Asian- majority neighborhoods in the U.S., eight was the last nonzero digit in just 4% of all home listings in 2017, according to data from Trulia, while in Asian-majority neighborhoods the figure was 25%—up 5% from 2012. Among listings for homes over a million dollars, that number in Asian-majority neighborhoods is 38%.

In New York, Chinese buyers flock to the condo development at 80 Park Avenue between 38th (an especially auspicious number that sounds like “create wealth”) and 39th, says Geovanna Lim, president of the real-estate investment and brokerage firm Park Avenue International Partners.
Some would-be buyers will lobby for a change in house or unit numbers. Seattle Berkshire Hathaway real-estate agent Becco Zou recalls the buyer who liked everything about a $3 million home except for its address: 1044. “He went to the city of Bellevue and got it changed within a day,” she recalls. Tracy An, a sales representative for Sotheby’s in Toronto, says one of her clients, with a neighbor’s consent, was able to change his house address from 44 to 42A.

The Chinese preference for certain lucky numbers has become so well known that even non- Chinese buyers are careful to pay them heed, says Peter Ng, Calgary-based president of multicultural real estate specialist KORE Marketing. In Richmond or Burnaby, British Columbia, he says, where 80% to 90% of pre-sale condo units are snapped up by Chinese buyers, non- Chinese are loath to buy a numerally challenged unit; in a few years, they might find it impossible to sell.

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