For international buyers, now is an excellent time to invest in Florida real estate,
whether you’re looking for a vacation home or a place to let your family grow and flourish. In fact, many buyers from other countries have already taken advantage of the low currency exchange rates and great locations in Florida—foreign buyers made up about 15% of the state’s property purchasers in 2005, and the number has greatly increased since. Interest rates have been at record lows and choices of homes and locations are abundant.
So, why choose a property in Florida? First and foremost, there stands the obvious answer—Florida is the Sunshine State! All across this gorgeous state, you will find beautiful beaches and a warm sun year round, a pleasant change of pace from the icy winters and rainy days found elsewhere. Moreover, Florida is home to world-renowned theme parks and entertainment that provide fun for the entire family, making it a great place to raise children, or even to have a home away from home for vacationing. Another good reason to invest is because Florida’s real estate appreciates quickly. Currency exchange rates and low interest rates create very appealing prospects for international buyers.
With heightened security and immigration laws in recent years, some international buyers may believe that relocating to Florida is a daunting task. However, there are programs implemented in the United States that may assist you in your search. The best known of these programs is called an Investment Visa. Foreign nationals who invest a specified amount of money in a commercial enterprise located within a regional center may own property anywhere within the nation, travel freely, and obtain green cards for their families. You can find more information about this program at the EB5 Resource Center website.
There are certain significant differences between real estate processes in the United States and other nations, so if you are interested in purchasing Florida property, there are a few things you should remember. The U.S. has a Multiple Listing Service, or MLS. This system allows brokers to share listings and commissions, which means that you as the buyer do not have to seek multiple agents for specific listings. One buyer’s agent can show you all the properties you’d like to see. Secondly, don’t be afraid to ask questions! Certain language and culture differences may make initial communication with your buyer’s agent a little difficult—for example, what is known as a “closing” in the U.S. is called a “completion” in the United Kingdom--but he or she is there to address all of your concerns. Third, take the time to find the right agent for you. There are plenty of websites that reach out to international clients that help a great deal in the educational process of homebuying. An informed buyer is a happy buyer.
We at Ellingson Properties would be honored to introduce you to Brevard County and show you all the best this region has to offer. We know you will fall in love with it!