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07 November 2012

Buy Second Home in USA is this the Right Choice

Buying second homes in USA has become the priority for many individuals especially since property investments are coming out to be the leading from of investments that give sure returns. Is it profitable to buy a second home in USA, if you frequently travel to US and have to stay in resorts and hotels then it would be a wise decision to invest in a property in US.
Many US Banks offer home loans on properties for sale and distress sales.  With the eligibility criteria fulfilled you can avail a loan to buy property in US and avoid the total recurring expenditure you bear every time when you frequently visit the US for leisure or business trips. If you already have friends and relatives staying in the US countries or nearby would it be advisable to invest in another property spending $ in buying home, or would it be better to have a flat stay at some place and have the expenditure of staying saved. You may also consider  the other over head expenses like food , travel and miscellaneous expenses on still you would save a lot by saving the regular monthly maintenance costs of a new second home in US.
You may also find  the cheapest properties on sale in US and also any bank distress sales that the US bank representative may guide you of. Going through a reputed US bank for a home loan would assure you of the repayment schedules and also help you in case of unexpected difficulties or failure to repay an installment on time. If you travel to other countries for business, closer to US then would it be better to buy a property in a bigger foreign country as compared to smaller ones where homes would be cheaper. As rates in nearby and surrounding countries would be much lesser in value and costs. But if the property purchase is also from point of view as investment  it would be better to purchase a second home in a bigger country as, though here you invest more but you also get good returns very soon as the property value appreciates faster.
How frequently you need the place second home in US is another important criteria for your purchase. If you visit every forth night or every month then it would not be good to stay at some ones  place and it is a better choice to invest in a second home in US. Also if the business trips are company paid you have the advantage of getting all the reimbursements so you may as well invest in the second home property in US  and accept the amount as rental for the stay in your second home.  In the end you will own a property in US even if the job remains or not your property will surely appreciate in value. As for the home loan there are so many means where you can adjust repayments and any US bank representative can guide you for the same.


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    1. What a great helpful link you have posted here Harry Polle, thanks for the lovely comment and coming by Home Loans Simplified Facts.
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