A Few Easy Steps to Finally Own the Vacation Home You’ve Always Wanted.
White sandy beaches, Disney World and palm trees. These three things make Florida, Florida; they also make it a great vacation destination. In fact, millions of people travel to CENTRAL Florida per year just to get a glimpse of what it is like to live here. Florida has a lot going for itself, except for hurricane season but that is besides the point. The real estate market in Florida is booming not just for floridans, but for out-of-staters and foreigners as well. But what is the process like to purchase a home or property in the state of Florida if you do not live in the United States?
One of the most appealing reasons why people who are not from the United States decide to buy real estate in Florida is for investment purposes. How much their currency is worth in their country differs from how much it is worth in the states. Cashing in on this difference allows them to make an almost guaranteed profit, especially if they are not planning to move to Florida full time.
One of the first things you need to decide if you are purchasing a home in Florida but are from another country is why and what you want to buy. Do you want to buy a vacation home, a rental property or a house for your family? After you make that decision, your real estate agent will be able to point you in the right direction on where the best places to buy are and why. The only property that you will be unable to purchase in the US would be co-ops because they require your source of income be from within the US.
Not a citizen? No problem. You do not need to hold a green card to buy a home in Florida. However, if you are planning on making the big move here and staying in the US permanently then a green card and citizenship would be a must. However, you will need an ITIN, individual taxpayer identification number. You will also be required to have a passport along with a visa.
While this might seem like second nature, one of the greatest tools you can use through this process will be professional assistance. Whether it be a real estate agent or a real estate lawyer, they will help you understand any legal issues that arise and help with understanding the differences in the US market.
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Call us (407) 380-2800 or visit www.premiumproperties.com