How To Buy A Home In Ontario As A Non-Resident?

Hyde Park London Ontario

Ontario is one of the most promising regions with a bright future in Canada. Located in southeastern Canada, the state of Ontario is home to some of the biggest cities of the country. Some of these cities are:

  • Toronto
  • London
  • Hamilton
  • Ottawa

All these cities have a population of over 500,000 people, and they are constantly growing. Statistically, Ontario is one of the most profitable regions in all of North America in terms of ROI. Whether it be real estate, a company share or a local business, investing in Ontario is a highly profitable action in both short and long term. 

Among these investment types, real estate has a very special place. Today, we can say that Ontario is the best state in terms of ROI in real estate. And in this blog post, we will inform you about this topic. We will mention the advantages of owning a house in Ontario. We will also answer the question “How to buy a home in Ontario as a non-resident?”.

Why Buy A House in Ontario?

During and after the global pandemic, house prices all around the world have hit all-time-highs. Getting its share from it, Ontario also experienced some serious price rises in real estate. However, starting from late 2021, the market has started to cool down again. With the pandemic coming to an end and the economy getting more stable, house prices started to drop to an acceptable level. As of November 2022, house prices in Ontario are actually pretty reasonable.

Today, almost everyone can find a house fitting for their budget in Ontario. However, this is not enough to consider buying a house in Ontario. The real reason why we strongly suggest is due to future market estimations. Experts estimate that Ontario has one of the highest ROIs in real estate in all of North America.

Buying a house in Ontario in late 2022 or 2023 can -predictably- make you up to 35% profit in the next 5 to 7 years. Additionally, buying a house in Ontario is also very safe compared to other states. We can say that buying a house in Ontario in 2022 or 2023 is a completely risk-free investment.

Lastly, it is also very easy for non-residents to buy a house in Ontario. This makes buying a house in Ontario an even bigger opportunity for both long and short period investment. But, what exactly do you need to be able to buy a home in Ontario as a non-resident?

What Do You Need To Do To Buy A Home In Ontario As A Non-Resident?

As one can expect, buying a home in Ontario as a non-resident has certain requirements and procedures involved. Topics such as taxation and insurance can show differences when the buyer of the house is a non-resident. Below, we will mention all the crucial topics and inform you about the process of buying a house in Ontario.


Before we tell you about taxation, we want to suggest that you should definitely consult a tax accountant in Ontario before you buy any real estate as a non-resident. This warning out of the way, we can begin informing you about taxation. As a non-resident, you have to pay three main taxes while buying a home in Ontario:

Land Transfer Tax (LTT) (0,5% to 2%)

Non-Resident Speculation Tax (NSRT) (25%)

You may also be subjected to other taxes depending on the situation. Although it might seem pricey to buy a house in Ontario as a non-resident, you can also benefit from some tax exemptions. For example, if the house you are buying is your first property and you are planning to live there yourself, you can benefit from a tax rebate. To be eligible for the refund, the prospective homeowner must be a citizen of Canada or a permanent resident. If the buyer acquires Canadian citizenship or becomes a permanent residence in less than 18 months, they will also be eligible.


Having financial protection against theft, fire, and other unanticipated disasters that might harm your property or personal items is unquestionably a good idea. Additionally, lenders will want evidence of homeowner’s insurance for your house when you apply for a mortgage. 

Even though getting insurance as a non-resident can be challenging and expensive, you should think about doing so given the importance of having coverage in the situations mentioned above. Keep in mind that homeowner’s insurance is not required in Canada, unlike auto insurance.

The best option we suggest for finding the best and most economic insurance for your house is working with insurance brokers. Yes, they get commission rates, but it becomes a lot easier to find the fitting insurance company for your home when you can get quotes from every insurance company the broker works with at once.

The most important thing you should pay attention to while getting your house insured is getting as many quotes as possible. This will both help you get the best price and best coverage for the money you pay. 

Home Inspection in Ontario

Home inspection is an important part of buying a property. Make sure to add physical home inspection to your purchase contract as among the conditions of closing the sale. We also recommend that you work with a professional home inspector to make sure that everything is perfect before you buy the property. This way, you can prevent surprise expenses after you have bought the house. 

Personal Requirements

When buying a home as a non-resident in Canada, you should qualify for a short list of requirements: 

  • You should have a minimum of 10% for the down payment of your desired property. 
  • You should pay the Non-Resident Speculation Tax of 25% on top of property prices.  If you are a permanent resident or Canadian citizen, you do not need to pay this tax. 
  •  You should have a good credit score. 

Required Documentation

There are a few documents required for non-residents to apply for buying a home in Canada. These are:

  • Proof of income
  • Bank statements for proof of down payment from the last 3 months
  • A letter of reference from a non-Canadian bank 
  • An international credit bureau report or six months of banking statements

The Process

The process of buying a home in Ontario as a non-resident is actually very straightforward. However, the hard part is finding the ideal property for you. There are thousands of real estate agents and houses for sale in Ontario. Finding a good real estate agent and a good home for your needs and desires is the hardest part in the process.

As HALCAN Real Estate, we provide real estate services in Ontario, specifically in London. With years’ experience and knowledge in the market, we can find you the house of your dreams in a very short period of time. You can also rest assured that we always work very hard to give you the best price for the property you are planning to buy. For consultation, you can contact us via our website at or by calling us at +1 (226) 700-1210.

After you have found the right real estate agent and property, you should make sure to hire a real estate lawyer for the process and documentation. The next step you should follow is an optional one. If you need, you should apply for a loan after you have found the home you want to buy. 

Your real estate agent and lawyer will do most of the work, and it will be a very simple and straightforward process for you. After you come to an agreement with the seller, there only remains the payment for you to do. Your agent and lawyer will help you with all the paperwork and other processes as you buy the house.

After the buying process is done, you should focus on dealing with other things such as insurance.

After all is done, you can enjoy your new home in Ontario!