Buying home on work permit

Moving to Toronto in July on work permit and will be trying for my PR once there. I like to understand the risks and feasibility of buying a home on work permit.
worst case- if I don’t get PR can i visit the country in visitor or other non work visa and sell the home?
Appreciate the inputs from your home buying experience and any insights on worst case scenario


Are you planning to buy with full on cash or planning on a mortgage? If you are a PR, there is a new immigrant home buying assistance program. Not sure if there’s anything similar for work permit holders.

The real estate market in GTA is insane at the moment with no sign of cooling down. It’s seller’s market so you wouldn’t have any issue selling if it gets to that.

Also be aware of the NRST (Non-Resident Speculation Tax) which is a 15% tax when buying home as a foreign person.

Based on what you said, you may qualify for a rebate/refund when you become PR but it may be a substantial number depending on your financial situation and the property you may wanna purchase.

I enquired, usually this gets refunded if you get PR within 4 years

I’m on Work permit

I om on a WP living in Ottawa which is outside the GTA so I didn’t had to pay the 15% tax.
I just closed on a home 2 months back. No issues on buying a home, but since I am a “temporary” resident in the country, obtaining a mortagage took some time as I just had a 5 months of credit history in Canada. But I was able to use my US credit history to get approved. But the mortagage amount was lower compared to what I could have been eligible for on a PR.

The only other catch is land transfer tax. As a first-time home buyer, I am eligible for a rebate (max of CAD 4000) but I didn’t get that for not having a PR. I can either get a refund once I get my PR or claim it if I buy a second home after getting a PR.

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That’s quite helpful, thanks for sharing