The current turbulence in the global economy has affected the world’s biggest real estate markets, especially the US market. Today, many American houses for sale come with significantly lower prices as a result of the financial crisis in 2007. The American real estate market is very unstable and the number of foreclosure American houses is increasing every year. This situation on the US real estate market is attracting many foreign investors. For many Australians, investing and buying American properties has become a new trend. Before you start looking for some American houses for sale, let’s consider the ins and the outs of this new trend:
Unstable Real Estate Market: Because the Australian market is relatively steady with strong house prices, an increasing number of Australians decide to invest in American properties. Since 2007, many American houses for sale come with significantly lower prices. Today, you can find a house for one-third off its original price.
Advantage Of The Strong Australian Dollar: Many Australians take advantage of the strong AU dollar for making property investments overseas.
Secure An Additional Income: You may have a dream job, but securing an additional income is great for your future. If you decide to take advantage of the strong Australian dollar and invest in an American property, you can earn a huge profit from the property once the market heals.
Live Your Dream: If you have always dreamed of living in the USA, this is you chance. The American houses for sale come with affordable prices for many Australians, so you can easily find one that will match your budget. However, don’t rush in making any final decisions, because there are still some outs you should know.
Being Ripped Off: There is always a risk when making overseas investments. Since you cannot afford a plane ticket to the US just to see the property before buying it, the sellers take an advantage and lie about the house condition.
It May Take Up A Lot Of Time: Investing on the American real estate market involves much more than one may think. You, as a potential buyer, need to be well prepared and informed about the insurance, mortgages, and other similar things. Because of that, hiring a real estate agent to do all the work for you is a must. But this increases the final costs.