Despite the ups and downs of the Canadian dollar, or perhaps because of it, some Canadians are still looking for good long-term investments in the United States. Lifestyle assets such as cottages are often neglected in portfolio planning, but when thought of as family legacies and assets that deliver a stream of non-financial benefits too, then it starts making sense to look at a cottage as an investment, and to weigh the current cost against the expected long-term benefits.
Once you start considering the purchase of recreational property in the United States, then there are a few things you’ll want to know. We’ve been through this ourselves. The development team at Seabright Farm is headed by Canadians who live in the United States! We are here to answer your questions regarding Canadian Cottage Ownership at Seabright Farm.
Is it easy for Canadians to buy and own property in the US?
Yes. It is no different than owning property in Canada, without any GST or PST being applied to the land purchase. You can even get a loan from a US bank to help finance the purchase of the lot and construction of your Seabright Farm cottage! The transfer/excise tax and title insurance (covered by private companies) are expenses of the seller. If you are Canadian and sell the property, then there will be a hold-back of some of the sale proceeds until you file your US tax statement pertaining to the sale. Also note that in itself owning property in the US will not make a Canadian subject to US income taxation; only permanent residency in the US will do that.
Can I live in the cottage year-round? How long can a Canadian stay in the United States?
Seabright Farm is open year-round and the cottages are designed for all seasons. The US allows Canadians to visit without a visa for up to 6 months. There is not a specific limit on how many days in a calendar year you may stay, but longer term residency in the US does require a visa.
How far is Seabright Farm, Point Roberts from Canada?
Seabright Farm Cottage in located on the coast of Point Roberts, which is at the southern tip of the Tsawwassen peninsula. You will be seaside and relaxing on your front porch in less than an hour’s drive from downtown Vancouver! This oceanfront vacation community will leave you breathless with each visit.