Buying a Home in Florida For Canadians

Canadians love to buy property in the United States, and Florida ranks first as the most popular destination for doing so. With amazing weather, sandy beaches, and plenty of great homes, it’s easy to see why the “Sunshine State” is a favourable place to buy. 

As a Canadian citizen, purchasing property in the United States comes with a few extra steps compared to buying a home in your own backyard.

In our years of serving clients in Vaughan and the Greater Toronto Area, we’ve helped a number of Canadians buy south of the border. If you’re in the market for a second home or are considering a snowbird lifestyle, here’s what you need to know about Florida. 

For 37 years we’ve helped buyers make their real estate dreams come true. To learn how we provide smooth and successful buying experiences – click here. 

Why Should You Buy a Home in Florida?

Why is Florida an ideal place to buy? There are countless reasons! Here are some of the most popular. 

Lower Cost of Living 

One of the main reasons Florida is so popular for snowbirds is its affordability. Unlike other sunseeker destinations such as California or Arizona, finding an amazing home in Florida is easy on any budget.  

In fact, most Canadians are often shocked at how affordable homes in Florida can be! Of course, prices will vary based on the municipality and proximity to amenities, and other local hotspots. However, most homes in Florida are relatively affordable – especially compared to properties in the GTA. 

Fantastic Weather 

It goes without saying that Florida has some of the best weather anywhere in North America. With year-round sunshine and warm temperatures, Florida draws in millions (that’s right – millions!) of tourists every year. For Canadians looking to escape long and chilly winters, Florida is the perfect place. 

Amazing Communities 

Across the state, you’ll find a variety of welcoming communities tailored to all kinds of people and lifestyles. Even if you don’t know anyone who lives in Florida, you’re sure to make new friends and connections once you’re there. 

Are you looking to embrace a snowbird lifestyle? Consider some of these retiree-focused articles from our website. 

• Tips to Protect Your Home While You Are Away
• Buying a Vacation Property With a Real Estate Agent
• Everything You Need to Know About Living in a Gated Community

What You Will Need to Know About Buying Property in the USA

If you’re searching for sunny weather, a lower cost of living, and close-knit communities of like-minded people, Florida is the place to buy! However, before you begin stocking up on sunscreen there are a few important things you need to know about. 

Start With a Trusted Local Expert

If you want to buy a home in Florida, the best place to start is with a real estate agent in your city. A well-connected local agent can help you shop for amazing properties south of the border, help you navigate the unique elements of buying a home outside of Canada, and put you in touch with industry professionals in Florida to make the transaction as stress-free as possible. 

Length of Stay Regulations

Unless you and everyone else in your family hold American citizenship or a Green Card, there will be limitations as to how often you can use the home, and for how long. In most instances, Canadian citizens who own a home in Florida are permitted to spend up to a total of six months out of a year in the United States. These restrictions are known as “Snowbird Regulations” and are important to consider when buying a home. 

While you may not be able to use your Florida home for the entire duration of the year, you do have the right to rent it out and earn some passive income. One unique advantage to Florida is that there are no state income taxes! This means that you save on taxes if you do choose to rent it out. 

Looking for more real estate tips about retirement? Check out these blog posts!

• 3 Things Seniors Should Know Before They Sell Their Home
• What to Look For in a Home if You’re Retired

International Mortgages

Lastly, if you wish to buy a home in Florida, you will have to get a mortgage in the United States. This might sound complicated, but it’s actually fairly straightforward! Rather than sourcing financing from an American broker, some Canadian banks can provide United States mortgages directly to snowbirds. This can make the approval process much easier, as buyers are able to apply for financing using their Canadian credit history. If your current bank doesn’t have a United States lending program, ask your real estate agent. They can connect you to the best possible lender based on your circumstances. 

Searching for a well-connected Vaughan real estate agent who can help you buy a home in Florida? Look no further than the Lino Arci Team! Send us an email or call us at 416-571-2724.