The United States is a country of opportunities and very safe, so living in the United States can be a dream come true for many immigrants.
Many families look for quality of life and excellent educational training. Investors are looking for properties in the United States to rent because the American currency is a strong currency and the economic system is quite solid.
In this post you will learn how to buy a house in the United States to live or invest.
Is it worth buying a property in the United States?
The American real estate market has attracted more foreign investors every day to invest or expand businesses.
Buying a home in the United States can be a great alternative for a very interesting investment, however, before entering this market it is necessary to analyze all the steps to verify the viability of the investment.
Despite the current political instability, the United States remains a target for many immigrants.
With interest rates now near zero around the world, property values are only increasing and continuing to rise, because the search is far greater than the number of builds and pitches.
The first thing before buying a property is to define an objective, and analyze which visa is necessary for that objective, and only then apply for a visa that is necessary.
The type most used by foreign investors is EB-5, which is an authorization for investors, this category requires a minimum initial capital between 900 thousand dollars and 1.8 million dollars.
This initial capital must be invested in a company that creates a series of jobs and economic development in a given region for two years.
If the goal is leisure, simply choose the location of the property and define the total to invest. However, if the purpose is to receive fixed or seasonal rentals, the location will not be as important.
How a house payment works in the United States
To make the purchase, the buyer or investor who opts for the mortgage option does not need to pay any amount directly to the broker. The payment will be made to a judicial account, called Escrow, which belongs to the North American notarial system.
So they must be vigilant if any intermediary requests a cash deposit. As a precaution, use a reputable real estate agent to avoid future problems.
Advantages of buying a house in the United States
There are several advantages to buying a home in the United States. First of all, you need to find a professional broker to help you with this acquisition.
In most of the Orlando (Florida) region, investments are made primarily by foreigners.
There are two purposes at the time of purchase, you must understand with your broker what is the best alternative: fixed rental or vacation rental.
In the seasonal rental, the minimum term is one week to close any contract, and if you prefer, it can also be enjoyed during your holidays.
In fixed income a residential property would be bought, when these properties are rented they must have a minimum contract of 7 months.
Surrounding these houses are quality public schools, different from seasonal rental properties, but there is a great expectation that these properties will quickly appreciate.
If I buy a house in the United States, can I live there?
The immigrant who buys a property in the United States only has the right to live legally in America, during the period of the visa approved for her category, for example, if your visa is a tourist visa, you will have the right of residence. period allowed by the visa.
This happens because the purchase of a house in the United States is open to foreigners who have the purpose of investing or a vacation home.
Does buying property in the US entitle you to a Green Card?
The US state checks several factors before issuing a Green Card to an immigrant. Buying property in the US is not a relevant enough condition to show that you have the qualifications to apply for a permanent residence visa.
How does the mortgage work in the United States?
What is mortgage
It is a type of loan that is not very common as in other countries, in this category of loan the guarantee is the house itself.
The property does not belong to the bank, but to the buyer, if the buyer cannot pay the financing fees, the bank has the right to take over the property.
Benefits of a mortgage
In 2008, it was the moment when one of the biggest economic crises in the world occurred, “The bursting of the housing bubble”, when the US government created tax incentives to facilitate access to housing.
With increasing access, many people began applying for a mortgage, after all owning a home is the American dream.
After many applications were approved, due to government stimulus, there was a high default rate, which also hurt many banks and financial market players.
Although the housing bubble burst in 2008, investing in a home in the United States can be a good investment for some foreigners. Some of the main benefits are:
• US banks typically finance about 70% of the property for legal immigrants.
• There is also the possibility of refinancing the payment
• Opportunity to use the mortgage as a line of credit for other loans.
• Simplicity in payment methods, since it is possible to divide the total amount of the bank loan.
• There is no requirement to transfer ownership of the property to the bank’s name.
The US economy is one of the strongest in the world. While there may be some events that cause some instability, such as elections and financial crises like the one in 2008, it remains constant, giving opportunities to all who seek happiness.
Buying a home in the United States is an option that should be considered, especially if you are a foreigner. Find a professional and reliable broker to evaluate your alternatives, based on your main objective.
Take advantage and discover the 6 steps to open a company in the USA.