Buying a home for a new immigrant can be very difficult. Credit History and other factors such has having a job in Canada will often make the bank deny you a loan.

In these scenarios, try to use your credit history from the country you are moving in from. Also banks may be ready to provide you a loan if you find a co-signee. The co-signee should have good/excellent credit history.

There are few different types of homes you can buy around Greater Toronto Area. You can buy condos, semi-detached or individual homes.

Condos are high-rise buildings at very prominent location. They are much smaller and could be cheaper than a semi-detached. Condos have high maintenance fees and often it could be one third of your mortgage per month. Immigrants who buy condos are usually buying it with an idea to rent it out.

Semi-detached are cheaper and have often 3 bedrooms are more. You can often find big boards on the roads that advertise semi-detached. Prices can START somewhere from $199k, depending upon the location. Most immigrants buy a semi-detached as their first home.

Individual homes are much bigger and have atleast a 2 car garage. They are also expensive and depending upon your location, you may have to pay a premium too. Bungalows are individual homes with only one floor but are bigger. They also sometimes come with a lot (land area). Retirees usually prefer this as they need not climb stairs.

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