This is because there are many people who going through financially turmoil and are forced to go through foreclosure. However, it is because of this current marketplace, that Canadian investors will be able to capitalize on this buyer’s market. There are a lot of benefits associated with purchasing foreclosed homes verses buying new homes that are listed on the market.
Generally, foreclosed homes are usually listed at a fraction of the cost of the average home if you investigate into U.S. real estate.
In some cases, they will go to auction and be sold for about a quarter of what they are actually worth. For those that are looking to invest, this is a no brainier. You will find that many of the homes may not be in the best condition once they have been through foreclosed. However, in cases like this it is important to invest a little bit more to make sure that the property is desirable. You can do this by making general repairs, replacing carpeting and flooring, and repainting the walls. This will make it easier to resell or to rent, and will often make it more valuable.
Before you purchase U.S. real estate for investment purposes, you will want to make sure that the home does not have any major repairs that need to be done.
Sometimes there may be issues with foundation, water leaks, or gas leaks that can cause a big problem down the road. This is especially true if you are planning to rent the property. By talking with an appraiser, you will be able to have a thorough inspection done to make sure that you are making a good investment. This is of utmost importance when it comes to purchasing U.S. real estate for investment purposes.
As of right now the Canadian dollar is worth a bit more than the U.S. dollar. This gives Canadians even more of an opportunity to make money. This is because they are able to purchase a property for less, and then turn around and rent it to make more money. By making a lower initial investment, it helps you to quickly recover the money that you put into the investment and then go on to making profits on top of that. This can be a very attractive opportunity for those Canadians that like to invest.
Overall, right now is the time to buy U.S. real estate. Whether you are looking for an investment property or a second home, you will find great homes at great prices due to the current state of the U.S. housing market. While it is not the best time to be selling a home, it is the perfect time to buy- especially if you are looking for foreclosed properties. By signing up for our email list, you will be able to get valuable information that will help you when it comes to purchasing U.S. real estate as a Canadian. You will find the opt in form just to the right of this page.