According to a survey by the Bank of Montreal, one in five Canadians is interested in buying U.S. Real Estate properties.
Canadians are drawn to buying U.S. Real Estate for two main reasons: Snowbirds are looking to escape the cold winters so they look for U.S. Real Estate in southern states like Arizona and Florida. In addition the strong Canadian dollar and the low U.S. Real Estate prices are very attractive to Canadians!
There are many advantages to buying U.S. Real Estate at the moment, and this is definitely the time to do so!
During the past 5 years, the price of homes in the U.S. Real Estate market has fallen dramatically, some places as much as 50%. It is most likely that housing prices will start rising, after 5 years at a low. In fact, there has been a slight monthly rise in April according to data aggregator CoreLogic. Mortgage rates are also at historic lows at the moment
Before buying U.S. Real Estate,
make sure you check the neighborhood, the resale value, local crime rates, tenant turnover, vacancy rate and the cost of insuring the property. There are many professionals out there that can assist you during these stages of purchasing U.S. Real Estate!