Own a home in Seattle, move to Kelowna,
I have been thinking through some ideas to pragmatically establish equity while also moving to Canada. I'd greatly appreciate some wisdom or feedback on a strategy.
My goal is to work remotely, live on a property with a forest and yard for my dogs. That is quiet, safe, a bit outside of town, so I can be close to nature and trails.
+ I own a townhome in north Seattle that over the past 2+ years has grown from $440k to +/- $620k. I would like to hang onto this property, rent it out through furnished finder for 6-9 months and move to Kelowna. I could possibly make 600-1000 a month off renting it.
+ I am in the process of seeking a provincial nomination to become a canadian citizen as my specific career field is highly desired. And I am prepping to find an effective method of living in Canada.
+ Rentals seem hard to come by in Kelowna and I have 2 dogs.
+ So, I am looking into either purchasing an already built property or purchasing land and placing a minimalist dwelling.
+ Today I've been leaning toward purchasing vacant forested land within the Kelowna valley, placing a permanent prefab dwelling on it, and living there. I am uncertain of the financing process for this, but I make a fair amount of money and Kelowna is far more affordable for me than Seattle.
+ I could also rent this canadian property out down the line.
+ I have an architecture background, I love projects and creating new things; so this sounds super fun to me to create a new home and design the land etc.
So when you hear this plan / early ideas - what do you think? What comes up for you in terms of what would / wouldn't work?
Thank you!!
Sophia