Selling vs Renting house before moving to Canada from US.

[nelsona]

I'll let you look into that
Btw don't use the qoute feature. As you set doesn't really work and we both know already wHat I said, no need to repeated it

[loise1204]

[quote="Thinkin"]I need to move to Canada in a couple of months if I need to maintain my Canadian PR status. I currently own a home in the US. I realize that if I sell the house before moving to Canada, I don't have to pay taxes in the US on gain up to $500,000 (married), and don't need to worry about FIRPTA and property depreciation that would further increase US gain in future.

At the same time I see Canadians wanting to own a home in the US, so there must be some advantage to own a home in the US I guess. Since I already have a home in the US and feel I got a good deal on it, was wondering is it worth keeping it and renting it out while I am in Canada. Also, the rental income I estimate should be close to/ cover the mortgage + property tax payment. I also read something about US withholding 30% of the gross rent if I don't opt for the "net rental election" while paying taxes in US. I am still learning about these things in the last moment, and gross rent 30% rent withholding is too much to pay. However, seems like if I go with "net rental election" for US tax payment, may not be that bad to rent the house while in Canada.  I am very confused and what ever I decide (i.e. sell vs rent) has to be fast. Appreciate any thoughts or word of advice. If I am missing something I have not thought about please let me know.[/quote]

Hello,

Can you please tell me what is the rental cost in Canada??


Thanks in Advance.