Tuesday, December 11, 2007

Canadians Buying In The US

Everyday we hear about the strong Canadian dollar and the slowing US market. Now seems to be the perfect time to pick up your winter snowbird retreat or get an investment property in an otherwise fundamentally sound region.

Brian Wruk, co-author of The Canadian Snowbird in America has some great points for Canadians looking to head south.

California, Nevada, Arizona and Florida all have foreclosures at all time highs and the place you were looking at on Vancouver Island is now close to $1 million.

"People can sell there, buy here (Phoenix, Ariz.) for $500,000, and put the difference in their pocket."

Once you get your financials in order there are some easily forgotten points that you should consider:

Take your meds: But remember that drugs with codeine require prescriptions in the U.S. If you must take prescription medicine, ask your doctor for a letter explaining why and the recommended dosage. Take only as much as you need.

Satellite TV: If you want to watch Hockey Night in Canada, you'll need a Canadian satellite receiver. BellExpressVu says it's illegal to use their system in the U.S. -- but StarChoice says there's no problem.

Gambling disasters: Win or lose, keep a diary of dates, locations, games played and outcomes. Your winnings will be taxed but you can claim a refund by proving offsetting losses.

Driver's licence: Be sure your licence, vehicle registration and passport will not expire while you're away.

Travelling with a pet: You'll need a health certificate from a vet and a letter confirming your pet is from a rabies-free zone or, for a dog, proof of a rabies shot at least 30 days earlier. Don't even try crossing with an exotic pet.

Perogies: Eat your fill before you go because, in the U.S., you won't find perogies, ginger beef, Oh Henry! bars, HP Sauce, Shreddies, Clamato juice -- or Canadian beer.

Source: Terry Ritchie with Brian Wruk, The Canadian Snowbird in America

Read The Entire Article Here


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