With a GDP of $20 trillion, and the most advanced business and market environment in the world, the US is the best real estate destination for overseas investors. Residential, commercial, and agricultural properties are often more affordable than they are in other developed and affluent countries. In addition, American real estate laws are crystal clear, and one will not be left in the lurch just because they decided to invest abroad. It’s no wonder then that the USA continues to be one of the best places to invest in real estate abroad.
Here are some of the reasons why America is your best bet:
An overseas mortgage is possible
While many countries offer attractive real estate opportunities, very few are financially viable for every buyer. Most overseas investors do need mortgages, and here is where the US fares much better. Unlike other countries, foreigners can apply for a mortgage at an American lending institution to purchase a property in the US. Nevertheless, it is important to remember that foreign loan applicants may face many hurdles even in America, and they may sometimes reach a deadlock.
Although it is difficult to get a mortgage loan in the US for overseas investors, it is possible with the help of mortgage lenders. Mortgage lenders have the know-how and insider knowledge to help overseas investors find the best loans possible for their unique situations.
Rent-to-value ratios are unrivaled
Property prices can be surprisingly low and affordable in the US. Although cities like San Francisco and New York rank among the most expensive in the world, there are multiple cities and towns across the US where it is possible to purchase properties at a fraction of a cost when compared to your own home country.
What’s more, rent-to-value ratios are impressive, and one can earn a decent sum of money by letting out their properties. Most landlords are able to receive a 1% monthly rental return on their property. This is unheard of in countries like the UK or Australia, where properties tend to be more expensive, but rent tends to be much lower.
No legal restrictions on foreigners buying real estate
The US does not have explicit legal restrictions on overseas investors purchasing properties in the country. However, banks may hesitate to sanction loans to foreign applicants and may request several documents. Even then, they may not be convinced you can pay regular monthly payments.
We have heard of instances where an applicant has furnished multiple documents only to reach a dead-end. The applicants simply never heard from the banks again. Nevertheless, it is possible to get an overseas mortgage in the US, but applicants require professional assistance such as what we offer.
A huge and heterogeneous property inventory
The US is a very large country, and it’s always been known as the land of limitless possibilities. It wouldn’t be an exaggeration to say that there is something for everyone in America, even for property buyers. If a real estate investor can imagine it, he will find it somewhere in the US.
From urban condominiums and villas to office blocks and agricultural land, the inventory at any given time may seem inexhaustible. This makes buying a property in the US exciting and alluring. In other countries such as New Zealand, the UK, or even Canada, the choices are limited, and most attractive properties go off the shelves quickly.
The US offers multiplicity to overseas real estate investors
The US is an advanced real estate market where it is relatively easy for overseas investors to purchase properties. Foreigners can also apply for mortgage loans, although professional assistance is often required. Some of the advantages that make the US so attractive include higher returns on investment, fewer legal restrictions on property purchases, and a diverse business and living environment.
If you have nurtured the idea of purchasing a property abroad, the US is often the best choice. It is hard to find another country where so many options are available with very few restrictions.