Today more people than ever are considering the purchase of a second home in the U.S. real estate market.
The majority of those are Canadians looking for a summer home. This is because it is much more enjoyable to spend your time in warmer climates than brave the cold northern winters. There are many options for purchasing U.S. real estate, but most seem to prefer the Sun Belt states. These are the states that run along the southern border of the US.
Recently, Arizona has been experiencing an influx of U.S. real estate buyers from Canada.
Most of the reason for this is that the Canadian dollar is currently performing much better that the US dollar. This has increased Canadian buying power here in the states. Once you consider that the average market price of the US home has dropped considerably, you can see how the two factors work harmoniously to allow Canadian investors a wonderful opportunity to buy U.S. real estate. This has created the perfect environment for Canadians to purchase investment property or even a second home for summer living.
One of the reasons that prices are so low is because there are a lot of houses on the market. This creates competition between people who are trying to sell their home and drives the price down. The benefit for the buyer is that they will have a lot of different homes to choose from. No matter what type of home you are looking for, it is sure to be available. With the current buyers market, you may even be able to afford amenities that you didn’t think you could. Some things that you might be able to get with your new home are large kitchens and bathrooms, swimming pools and much more. Having these will make a difference in equity as home value increases.
If this isn’t incentive enough, consider that Arizona is a beautiful state with a temperate winter climate. Along with this, there are many different attractions that are sure to keep you busy. One of the main things people want to see in Arizona is the Grand Canyon. You can also go white water rafting or kayaking on the Colorado River. If a sport is your thing, you can always head to Glendale to watch an Arizona Cardinals game.
As you can see, the U.S. real estate market is ripe for the picking and Arizona is a prime area.
It is easy to see why so many Canadian investors have chosen this area. Who could resist the warm climates and wide variety of entertainment options? Unfortunately this will not last forever. Signs of the market picking up have already begun. This means that home prices will start to rise as much of the inventory is bought. US home prices are at an all time low, making it one of the best investment options available for Canadians at this time. If you have been considering investing in U.S. real estate, now is the time to make your move.