Snagging Cheap American Houses

In a world where “budget-friendly” and “real estate” rarely share the same sentence, the quest for affordable housing can feel like chasing a unicorn through a real estate jungle. But no worries, because we’re about to spill the beans on the thrilling adventure that is finding the ultimate steal – cheap American houses. Forget the conventional, and prepare yourself to crawl through the wild, wild jungle of real estate on a budget!

1. Hidden Treasures of Foreclosures

If cheap houses are the gold mines of real estate, foreclosures are the undiscovered gems waiting to be unearthed. These neglected properties often come with jaw-dropping price tags, just waiting for savvy buyers like yourself to swoop in and transform them into cozy havens. It’s like a DIY project on steroids – with the potential for both savings and satisfaction!

2. Auction Action

Cue the dramatic music, because entering a house auction feels like stepping onto the set of a high-stakes reality show. With paddle in hand, you can bid your way to a steal of a deal. Just remember, the thrill of victory is directly proportional to the size of your savings account. Get ready to outbid and outsmart, all while keeping an eye on your bottom line.

3. Fixer-Uppers

Channel your inner Chip and Joanna Gaines because fixer-uppers are the unsung heroes of the affordable housing market. Sure, they may need a little love and a dash of imagination, but the potential for savings is as big as your dreams. Grab your toolkit and get ready to turn that run-down shack into the envy of the neighborhood.

4. Small Towns, Big Savings

The allure of big city lights may be blinding, but sometimes the real treasures lie in the quiet charm of small towns. Venturing beyond the bustling metropolises can lead you to hidden pockets of affordability, where community spirit and lower living costs make the hunt for a cheap house feel like striking gold in picturesque countryside.

5. The Offbeat Path

For those who dare to be different, exploring unconventional housing options can reveal a world of affordability. Tiny homes, converted shipping containers, and quirky dwellings offer a unique twist on the traditional house hunt. Who said affordable can’t also be eccentric and utterly charming?

6. Unveiling Hidden Deals with a Click

In the age of technology, your quest for cheap houses doesn’t have to be confined to local classifieds. Embrace the digital age, and scour online platforms, real estate websites, and apps that specialize in connecting buyers with budget-friendly properties. The internet is your oyster – now go find that pearl of a deal!

Conclusion

So, there you have it – the roadmap to unlocking the secrets of cheap American houses. From the thrill of auctions to the charm of small towns, the possibilities are as endless as your imagination.

A few tips for Property Investing in the USA

As a follow up to our recent blog telling you that almost ANYONE can invest in the USA property market we thought it would only be fair to mention a few tips for doing so.

Before I personally made the plunge I spent several hours listening to podcasts on the subject.

I feel this was like a really valuable crash course on property investing in the USA.

It gave me great perspective on areas to consider and returns by area as well as the importance of proximity factors to these areas (big businesses and transport links). Continue reading A few tips for Property Investing in the USA

How to (legally) avoid Capital Gains tax on your US property

When it comes to think about Capital Gains tax on your US property there are a few things to consider. The first nice point is that if your profit from the sale is less than $250,000 then you can exclude it from taxable income (if married this is $500,000).

In order for this exclusion to apply there are some terms and conditions attached (as one would expect from the IRS).

The principle one is the two out of five rule.

This states you must have been resident in your home for a minimum of 2 of the last 5 years before the sale was completed. Continue reading How to (legally) avoid Capital Gains tax on your US property

Property transactions costs comparison between the US and Europe

I recently read an article which indicated that transaction costs for US property average between 9 and 10%. This seems staggeringly high to someone like me who is more used to costs around 2%.

The seller has to pay the majority of the US transaction costs and the largest part by far is the Real Estate Broker fee which is typically 6%.

Similar costs in Northern Europe are between 1.5 and 3%. Other overall costs are pretty comparable and consist mostly of taxes and legal fees.

Continue reading Property transactions costs comparison between the US and Europe

Property Depreciation and why Europeans have never heard much about it!

Here is an interesting thing I realized recently as a result of living in the US. In the US property depreciates. As a result you can write off the cost of the depreciation against rental income (typically over 27.5 years).

This deduction is not possible for those living in Europe. Why the difference?

Is it because of differing building standards. Generally more buildings are timber frame in the US verses block build in Europe thereby affecting their lifespan? Continue reading Property Depreciation and why Europeans have never heard much about it!

Buying a house in the USA – A step by step guide

Buying a house in the USA could be the first step toward the American dream.

Buying real estate abroad is now common practice for more and more investors and the USA is definitely one of the most sought after places to buy investment properties. Continue reading Buying a house in the USA – A step by step guide

Can a foreigner buy a Property in the US and what are the considerations?

The short answer to whether a foreigner can buy a property in the US is “yes”. Whilst some countries restrict the sale of land and property to natives the US does not. Further to this the conditions associated with foreigners buying a property in the US are generally very similar or identical to a native buying property.

Continue reading Can a foreigner buy a Property in the US and what are the considerations?