Applying for PR, Buy or Rent? Do I Need Pay Foreigner Buyer Tax? Refundable?
So it will be a little bit complicated. You need to think about it. And if you really can get the immigrant status final, and how long will take you to get the, even win the status? So if you are very sure you can get the immigrant status. And so you can buy some, like pre-sales, or buy some run to own, because some pre sales, and it will take, like, one year or two year, maybe five year, maybe ten years to complete.
So if you really can't do that, and it means after you get the immigrant status, and then you don't need to pay the foreigner buyer tax anymore. So it's 20% is a lot of money. So and also you need to think about what kind of properties you're buying. What's the price range? If this very cheap one, like a $600000, $700000.01, even 20% is not big money, right?
So maybe the price of the property will increase a lot. So you need think about this as well. So the property will be more expensive later, or cheaper, or be the same. And also, you need to think about there's another policy. If you buy a property right now in twelve months, if you can get the immigrant status, probably you can get refund for your foreigner tax.
So you need to think about these kinds of things. And also let me talk about run to own a little bit. So you can sign a contact with the owner. You lease at 1st, paid right every month, 1st, and then one year later, or two years later, or three years later, and you get the completion, you get the title on your own, and then it will be considered as the completion.
You pay the foreign tax. But eventually, if you don't care about the foreigner by your tax is only 20 %. It's not big money for you, if you think so. And then don't worry about that. Just buy it right now. And also, you need to think about another thing. If you are in kind already, probably you are writing probably, right? So think about how much you are paying every month as right, and calculate if you buy this kind of property, and how much you will pay for the mortgage.