PEI Waterfront Property Beckons!
Many Canadians are buying up waterfront property in PEI for investment purposes knowing that the property values will be increasing over the next few years. Americans are buying up land as well as both investment property and vacation property. It is actually quite easy for Americans to buy waterfront property in PEI as long as they use a Canadian lawyer and a Canadian bank for the mortgage. The actual transactions are pretty straightforward and the buyer doesn’t necessarily have to attend the closing in person. Foreign buyers usually have to pay some additional taxes, but even still find their money gets them a lot more when they buy in PEI.