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Yes. There are US mortgage programs designed specifically for Canadian buyers, including foreign national loans that do not require a US social security number or credit history. Down payment requirements are typically higher than domestic buyers, generally 20 to 30 percent, and lenders will review your Canadian income documentation. I connect my buyers with US loan officers who specialize in Canadian applicants so this process is as smooth as possible.

FIRPTA stands for the Foreign Investment in Real Property Tax Act. When a Canadian sells a US property, the buyer is required to withhold a percentage of the sale price (typically 15%) and remit it to the IRS as a tax deposit. This is not a final tax, and much of it may be refunded when you file your US tax return. A US accountant experienced with Canadian sellers can manage this process for you. I have referrals for exactly this.

Most Canadian citizens can enter the US without a visa and stay up to 6 months per visit as visitors. Many Canadians use their Florida property for the full 6 months each winter. If you want to stay longer or work in the US, a visa such as the E-2 or TN would be required. My referral immigration attorneys can assess your specific situation.

Yes. Rental income from a US property is subject to US federal income tax. Florida has no state income tax, which is a significant advantage. You will also need to report the income in Canada, though the Canada-US tax treaty helps prevent double taxation. I refer my clients to accountants who specialize specifically in cross-border tax situations for Canadian property owners.

Ongoing costs typically include property taxes, homeowners association fees if applicable, home insurance (including hurricane and flood coverage which are important in Florida), property management fees if you are renting it out, and general maintenance. I help my clients understand all of these costs before they purchase so there are no surprises after closing.

South Florida refers to the southernmost region of Florida, covering Miami-Dade, Broward, and Palm Beach counties. Miami is in Miami-Dade. Fort Lauderdale is in Broward. Boca Raton and Palm Beach are in Palm Beach County. These are the four markets I specialize in and where most Canadian buyers focus. Each has a distinct character, price range, and lifestyle. I help you find the right fit for what you are looking for.

Yes, you need to report it in both countries. The United States has first claim on income generated from US property, so you must file a US non-resident tax return and report your Florida rental income to the IRS each year. As a Canadian resident, Canada also taxes you on your worldwide income, which includes rental income from your US property. The good news is the Canada-US Tax Treaty prevents true double taxation. You can claim a foreign tax credit in Canada for the US taxes you already paid, so you are generally not taxed twice on the same dollar. A cross-border accountant who works with both the IRS and the CRA is essential here. I have referrals ready for exactly this.

Not directly, and not in the way the Home Buyers Plan works for Canadian properties. The RRSP Home Buyers Plan only applies to qualifying Canadian homes, so you cannot withdraw funds under that program for a US purchase. What you can do is withdraw money from your RRSP and use the cash as a down payment, but those withdrawals are fully taxable as income in Canada in the year you withdraw them. There is no self-directed RRSP loan mechanism for US real estate purchases. Some Canadians also use funds from their TFSA since those withdrawals are tax-free, or they use a HELOC against a Canadian property they already own. A cross-border financial advisor can help you find the most tax-efficient way to access your capital for a US purchase.

Yes. Several US lenders offer foreign national loan programs specifically designed for Canadians and other international buyers who do not have a US social security number or US credit history. These programs qualify you based on your Canadian income, assets, and Canadian credit profile instead of a US credit score. Down payment requirements are typically 20 to 30 percent, and interest rates may be slightly higher than domestic rates. Some lenders will also consider DSCR loans for investment properties, where the qualification is based on the rental income the property generates rather than your personal income. I connect my Canadian buyers with US loan officers who specialize in these programs and know exactly how to package a Canadian file for US approval.

This is one of the most important questions Canadians overlook. The US imposes estate tax on US situs assets, which includes Florida real estate, when you pass away. For non-US persons, this tax applies to US assets over USD $60,000. The rates run from 18 to 40 percent. However, the Canada-US Tax Treaty provides significant relief. Canadians can claim a prorated share of the US estate tax exemption based on their worldwide estate versus their US estate, which substantially reduces or eliminates the tax for most buyers. How you hold title to the property, whether personally, through a Canadian corporation, a US LLC, or a trust, affects your estate tax exposure significantly. This is a conversation to have with a cross-border accountant before you purchase. I have referrals for professionals who handle this planning for Canadian buyers every day.

Yes, and this catches some Canadian snowbirds off guard. The IRS uses something called the Substantial Presence Test to determine if you are a US tax resident. If you spend 183 or more days in the US in a given year using a specific formula across three years, you can be deemed a US tax resident and taxed on your worldwide income. Most Canadians who limit their stays to 6 months per year avoid this, but it is worth tracking carefully. There is also a closer connection exception available to Canadians who can demonstrate stronger ties to Canada. A cross-border tax advisor can help you track your days and make sure you stay on the right side of this line.

The right ownership structure depends on your goals, how you plan to use the property, and your overall estate and tax situation. Buying personally is simpler but exposes your worldwide assets to US liability and creates direct estate tax exposure. A US LLC provides liability protection and can simplify tax filing but has its own tax implications for Canadians. A Canadian corporation generally does not provide the tax advantages many people expect for US real estate. Some buyers use a cross-border trust structure for estate planning. There is no single right answer. This is one of the first conversations to have with a cross-border accountant before you purchase, not after. I connect my clients with professionals who specialize in structuring Canadian-owned US real estate for maximum protection and tax efficiency.

Closing costs in Florida typically run between 2 and 3 percent of the purchase price, not including your down payment. For a $500,000 property you should budget roughly $10,000 to $15,000 in closing costs. These include title insurance, which is strongly recommended and sometimes required by lenders, documentary stamp taxes on the deed and mortgage, recording fees, attorney fees, and lender fees if you are financing. Florida does not have a state land transfer tax the way Canadian provinces do, which is an advantage. As a Canadian buyer you will also want to budget for a US bank account setup and wire transfer fees on your down payment. I walk every client through a detailed cost estimate before we make an offer so there are no surprises at the closing table.

Possibly, but this is one of the most important things to verify before you purchase. Short-term rental rules in Florida operate on three levels: state, city, and your specific building or HOA. Some condominium associations prohibit rentals entirely or require minimum rental periods of 30, 60, or 90 days. Others allow nightly rentals freely. Some cities like Miami Beach have additional registration and licensing requirements. Getting this wrong can result in daily fines. I make sure we review the HOA governing documents and local rental rules during due diligence on any property you are considering as a rental, before you are committed to the purchase.

HOA stands for Homeowners Association. In Florida, most condominium and many single-family communities are governed by an HOA that charges monthly dues covering shared amenities, building insurance, exterior maintenance, landscaping, security, and reserves for future repairs. In South Florida, HOA fees for condos typically range from $400 to over $1,000 per month depending on the building, amenities, and location. Luxury waterfront towers can run significantly higher. Following stricter inspection laws passed after the 2021 Surfside building collapse, many buildings have increased their fees to fund mandatory reserve contributions. I always factor HOA fees into the total cost analysis for every property we look at together.

Florida insurance is genuinely different from what Canadians are used to, and it is one of the most significant ongoing costs of ownership. Florida homeowners pay more than three times the US national average for property insurance. A standard policy covers wind damage but flood coverage is a separate policy entirely, purchased through the federal National Flood Insurance Program. For a $500,000 property in South Florida, combined wind and flood coverage can easily run $8,000 to $15,000 or more per year depending on location, age, and construction of the building. Coastal properties and older buildings generally cost more to insure. As a Canadian buyer you are eligible to purchase both wind and flood insurance. I connect every buyer with a Florida-based insurance broker who specializes in Canadian-owned properties before closing.

No. Property ownership does not change your immigration status or give you any additional rights to remain in the United States. As a Canadian citizen you can visit and stay as a visitor for up to 6 months per entry under Customs and Border Protection rules, regardless of whether you own property. Your stay limit is still 6 months. If you want to live and work in the US beyond visitor status, a visa is required. That is a separate immigration process entirely. I can connect you with immigration attorneys who handle Canadian visa applications if that is part of your longer-term plan.

Significantly. When the Canadian dollar is at 72 cents US, a $500,000 USD property costs you roughly $694,000 CAD. A 5 cent move in the exchange rate changes that cost by approximately $35,000 CAD. This is why timing your currency conversion matters, and why I connect every Canadian buyer with a currency exchange specialist before we go under contract. Banks generally offer poor exchange rates on large transfers. Currency specialists can save you meaningful money on a down payment wire. Your ongoing ownership costs including mortgage payments, insurance, taxes, and HOA fees are also all in US dollars, so the exchange rate is a permanent consideration for Canadian owners.

Yes, absolutely. Many of my Canadian clients complete their Florida purchase entirely remotely. Property viewings can be done virtually by video call. Offers and contracts are signed electronically through DocuSign. Florida real estate attorneys can handle the closing remotely and closing documents can be signed via mail-away or remote online notarization. You do not need to be in Florida on closing day. That said, if you have the ability to visit in person at some point during the process, even a single trip to view your top two or three properties is worthwhile. I am here to make the remote process as smooth as possible for clients who cannot or do not want to travel.

When you sell, several tax obligations apply. First, FIRPTA withholding requires the buyer to withhold 15 percent of the gross sale price and remit it to the IRS as a deposit against your US capital gains tax. This is not a final tax. When you file your US non-resident tax return you calculate the actual gain and the withheld amount is credited. Any overpayment is refunded. You will also owe capital gains tax in Canada on the profit, since Canada taxes residents on worldwide income. The Canada-US Tax Treaty prevents true double taxation by allowing foreign tax credits. How you held the property, personally versus through an LLC or corporation, affects how the gain is calculated and taxed in both countries. I refer my selling clients to cross-border accountants who handle exactly this planning.