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Your first days in Canada |
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Page 1 of 4 When you first arrive in Canada, you will probably be living in a
temporary home. You will soon be looking for a more permanent place to
live. Your
first decision will be whether to rent a house or an apartment, or to
buy a house.
Whether you rent or buy will depend on your personal finances and
whether you already have a job in Canada.
Most newcomers decide they
should first rent a house or apartment. This gives them more time to
save money to buy a house and to decide where they want to live.
If you want to buy a house, unless you can pay the full
price, you will need to get a long-term loan called a mortgage.
Mortgage loans are provided by banks and other financial institutions.
They decide whether the borrower has enough income, more assets than
debts, and a good credit rating. Most will ask you to pay at least 10
percent of the cost of the house from your own money.
Types of housing
- Furnished or unfurnished: Furnished housing should include beds,
tables, chairs, lamps, curtains, a stove and a refrigerator.
Unfurnished housing may include a stove and a refrigerator, but not
always.
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Room for rent: This is usually in a house or an apartment that is
owned or rented by other people. Everyone shares the kitchen and
bathrooms.
- Bachelor or studio apartment: These are small apartments designed
mainly for one person. They have one large room with a kitchen and a
sleeping area, plus a separate bathroom.
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Other apartments: Most other apartments have from one to three
bedrooms. All will have a separate kitchen, a living room and a
bathroom.
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Duplex: This is a house divided into two separate apartments. It may be bought or rented.
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Townhouse: This is a small house joined to other houses. It may be bought or rented.
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Condominium: This is an apartment or townhouse that is individually
owned, while "common areas" are jointly owned. As well as the mortgage
payment and property taxes, each owner pays a monthly fee for
maintenance, such as snow removal, grass cutting and repairs.
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