A foreign investor or a foreigner looking to move abroad (U.S.) will have many concerns and will probably do a lot of research and enquiry before making the decision of buying a home abroad. Although real estate market in general has ups and downs as opposed to share market, it is still a consistently changing in terms of properties being sold and bought, especially in U.S. where the many cities have their own laws as well as up and down periods in real estate market. Hence it is essential to find the right time to invest in real estate properties. There are multiple reasons for a foreigner to invest in real estate properties abroad including the advantage of buying a home at a cheaper rate as opposed to buying the same in local region. For e.g. For Indians, buying a home in U.S. is rather much cheaper. And right now is as good of a time as any to buy a property in America:
<1> TAX BREAKS – If you can manage to close on the property by 31 December, any property tax and mortgage interest paid might be classified as tax deduction for the year 2019
<2> LOWER COMPETITION –Nearly half of all home sales occur during May to August in U.S., as per a report by NAR (NATIONAL ASSOCIATION OF REALTORS), considering that, one can find lesser competition during fall and winter and that means reduced chance for you to be involved in a fierce bidding for the properties.
<3> EAGER SELLERS AND FAST TRANSACTIONS – The longer their home is on the market, the more eager the sellers become, As most of the sellers are currently motivated after a long summer rush, it can mean a faster closing during fall and winter. So even if you want to buy a new home for the New Year or during the winter, it is highly easily to finding the right home now.