Renting a home means giving money every month to a landlord on a non-refundable basis.
If you can afford rent, you should be able to commit to a lease with an option to purchase.
With Québec’s dynamic real estate market, renting can be difficult because the price of a house can go up as much as 25% within a year.
Regarding financing, you are likely to be considered a "foreign investor". Without permanent residence (PR) or citizenship, you are presented with a visa or authorization with a deadline.
You will be asked for a 35% down payment or personal contribution.
Against 5 to 10% once your PR is in your pocket.
« Your tailor-made acquisition plan » : You could move into your home in less than 40 days.
You choose the duration of the contract, usually between 1–5 years (the time typically needed to obtain permanent residence).
Renting to own is a very simple process:
- You locate the house of your dreams.
- We purchase the house.
- You occupy it under mutually agreed-upon conditions.
- You buy back the house at the price and condition as established on day one.
On the same day of the acquisition, we sign the lease-purchase agreement together and have it signed by an attorney. It stipulates several points, including:
- Duration: 1–5 years
- The rights and duties of everyone during this period
- The cost of the monthly payment and what it includes. A portion is returned to you at the end of the contract. It is a form of forced savings to help you face the acquisition costs.
- The contribution / down payment that you will need to pay for the signature at the notary's office. The stipulation is that this sum is converted into a "deposit" for your benefit. This means that if you deposit $30,000 on day one, you will find it deducted from the sale price on the day of your purchase.
- The purchase price at the end of the contract is fixed on the first day, so you won't have any unpleasant surprises.
- The consequences of failure to pay the monthly installments / abandonment of the buyback project / non-acceptance by the bank of your financing file.
To start the procedures, we walk you through a simple process.
We team up with real estate professionals: mortgage / credit brokers, real estate brokers / agents, certified appraisers, notaries, lawyers and investors.
For the administrative portion of this process, we have a partnership with Anges Immobiliers (renowned for their quality services).
Contact us for more information or to start the first steps
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