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Arfhurdaly
Posts: 194 Forumite
Hi,
Is anyone planning to buy in the USA soon? If there is a housing led recession, a lot of value will appear there soon. If you check out what you get for your money in the USA too, you get a massive home, compared to the UK.
Thoughts?
Arhurdaly
Is anyone planning to buy in the USA soon? If there is a housing led recession, a lot of value will appear there soon. If you check out what you get for your money in the USA too, you get a massive home, compared to the UK.
Thoughts?
Arhurdaly
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Comments
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A very long commute.0
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I mean to live or invest. I can work from home so not a problem. Sooner or later you'll get very attractive yields on property there.0
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Would you mind telling me how I could find out what costs are involved in buying a house there, with a view to using it as a holiday home? Dh's brother lives in a cheap state, and the Remax prices seem so low there that I think there must be other costs/taxes/escrow(whatever that is lol) involved.0
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Where does he live?
You can get max 80% LTV. I'm not sure on the costs but its $2 to the £, and property has fallen a lot there, and you get a lot for your money. In a year or so, it will be the place to buy, but problem is i bet the £ will be near 1.70 to $ then.0 -
I have been looking into it for a while. As you mention running costs can be quite high. They vary from place to place so you really need to narrow down your request to specific areas. ;-)0
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I go on a few forums in the US. The opinion on there seems to be you should wait until 2008 Q4 at the earliest and most likely much later to buy. You have several difficulties buying anyway, as a non-US citizen you will have more difficulty getting a loan and from a practical point of view a UK citizen can't work or live there without a visa. Unless your personal situation gets around that for a start, IMHO there's no point thinking about it.A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
Wont US institutions lend on the basis of UK income, if you put 20% down?0
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I have lived in the USA and my husband is a partner in a business out there and you can`t just move over there. Visa`s are very hard to get and you are lucky if you can get a company to sponsor you. You can get mortgages out there but you usually need a bigger deposit and you need to show proof of your credit reports etc. First thing you need to get when you live out there is a social security number if you don`t have one of these you will never get credit.
Houses are cheap over their at the moment but my friends out their expect prices to fall further, so I would not rush to buy.
Anyone thinking of buying and moving to the US needs to speak to an immigration lawyer first. They have a limit on how many skilled foreign nationals they let in each year and when that limit is reached that is it until the following year.0 -
Logically, if you use UK income it is an investment or holiday home. I think they would be looking more like 40% these days if they'd give anyone a loan at all. I'll look into it.Arfhurdaly wrote: »Wont US institutions lend on the basis of UK income, if you put 20% down?
You did talk about being able to work from home, so what is your status regarding residency?A house isn't a home without a cat.
Those are my principles. If you don't like them, I have others.
I have writer's block - I can't begin to tell you about it.
You told me again you preferred handsome men but for me you would make an exception.
It's a recession when your neighbour loses his job; it's a depression when you lose yours.0 -
He lives in Dearborn, Michigan.................not everyone's ideal holiday destination lol.Arfhurdaly wrote: »Where does he live?
You can get max 80% LTV. I'm not sure on the costs but its $2 to the £, and property has fallen a lot there, and you get a lot for your money. In a year or so, it will be the place to buy, but problem is i bet the £ will be near 1.70 to $ then.0
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