Moving back to Canada, can I buy a house beforehand from the U.S.?

[optism]

Hello,

I'm on a TN1 Visa working in the U.S. I am returning to Canada permanently and would ideally purchase a home before leaving the U.S. Since I'd still be. a U.S. resident when that purchase was made, is there anything I should be aware of? I.e., will there be any additional cross-border tax implications associated with this?

Thanks in advance!

[nelsona]

You can of course buy a house in Canad anytime you wish. Being a Cdn citizen you will avoid any of the non-resident "taxes" that some provinces have put in place to curb foreign buyers, so that is not a worry,

However, the banks, all of them, must get a 35% down payment (instead of the 5% normal) if you buy as a non-resident, and most will not consider you resident until you live in Canada for six months.

[tommer]

I've just done this. I was in the US on a TN visa, bought a house in Canada, and moved back last week. As Nelsona states, I put 35% down.

I got my mortgage through TD. They were initially adamant that I sign for the mortgage while physically in Canada (which would've been dificult given current quarantine restrictions) but eventually agreed to let me sign remotely from the US.

Good luck!