Excerpt from: Buying and Owning a Second Home
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| March 16, 2009 | | Whistler ski resort homes with U.S. dollars: Exchange rate makes a difference | When looking to buy Whistler real estate, it is a good idea to consider the exchange rate. Many U.S. buyers forget to consider the exchange rate when they make purchases. However, it is important to realize that the final cost of your Whistler real estate -- or other Canadian real estate -- purchase can vary as the currency exchange rate changes.
A good example is a $500,000 CAD property. On October 28, 2008, that property would cost $389,000 USD. Just one week later, as the exchange rate fluctuated, that same property would have cost $435,000 USD. You can see why it makes difference!
Make sure you speak with your lender, real estate agent or some other professional about the exchange rate and your options when you are buying Canadian real estate. You want to get the best possible price for your purchase.
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