The American dream tempts you? Do you think maybe to settle in the United States? The country attracts more and more people who come to settle and invest. The procedure for investing in real estate in the United States is a little different from European standards.
The real estate context in the USA
In 2007, the United States experienced a severe economic crisis. This coupled with the credit and subprime crisis has plunged the country into a unique real estate crisis with falling property prices. This has pushed millions of Americans to sell their properties at very low cost. In some parts of the country, prices have fallen by 50%. Even though the costs seem to be rising recently, the real estate market in the United States remains one of the most attractive in the world. The rates of return also seem very interesting with higher rental yields. To all this, it can be added a strong demand in terms of rental properties.
The market seems to take a second wind with banks that trust again. The US economy is healthier and is attracting more and more investors. In addition, the tax rules concerning real estate are very advantageous. And European investors have the advantage of the currency given the strength of the euro against the dollar.
What are the steps to take to invest in real estate in the United States?
The European investment market is very different from the US market. For example, it is necessary to resort to the notary for various steps. In the United States, it is a lawyer who does it. Essentially, these steps can be summed up in these few points:
The buyer's agreement
To find a property in the United States, you do not have to be there. You give mandate to a real estate agent who will represent you. He will be responsible for doing the research for you.
The negotiations
Once you have found a property that seems interesting to you, and your offer has been accepted by the seller, the lawyers will be responsible for the rest of the task. Their mission will be to develop the various documents. The various documents prepared by the lawyers of both parties must bear such information as: the price of the property, the date of signing the act and making it available, etc.
Financial transactions
Once you have signed the contract, the acquirer must file an advance on the purchase price. This advance represents 10% of the price of the property. In most cases, real estate is cheaper when paid in cash. This observation is also made in terms of expenses related to the purchase (legal fees, commission, etc.)
Rental real estate investment in the US offers some very interesting advantages in terms of returns. Since you are going to entrust a real estate agent with most of the different steps, it is important to choose the right one.
Buy in the United States, yes! But where?
The real estate situation in the United States is not the same in all cities. Real estate in the famous city of New York is positioned as a market filled with opportunities for foreign investors. The price per m 2 on 5th Avenue in New York or West Avenue Miami is quite high. And your investment will largely depend on the goals you are aiming for. If you are wealthy and want to enjoy the view of New York, there are great apartments with great views in Manhattan. A real estate investment in New York is therefore a good safe haven. For this reason, ramer and saperstein is the best place where you will get more advice about your investment.
The real estate investment in Atlanta presents very interesting opportunities. The metropolis of Atlanta is a very dynamic city that houses the headquarters of many multinationals. Similarly, if you are looking to invest in rental properties in Uncle Sam's country, we recommend the cities of Las Vegas, Miami, etc. However, many other strategic regions are waiting for you to invest in real estate in the United States.
