Reasons Australians Are Interested In Foreclosure Homes USA
Nothing in life is guaranteed, however investing your money in a property might bring long term benefits. Instead of keeping your money in a bank, you could benefit from the low interesting rates in the USA. This means that a nice property can be purchased in the USA at affordable price. Buying foreclosure USA homes became a trend in Australia, thanks to the many opportunities available for the Australian investors. For example, the price is below the real market value. With the house prices falling, many Australians decide to purchase vacation properties that can be rented or sold later for a much higher price. Here are some of the reasons why many Australians decide to make an overseas investment and purchase a foreclosure USA homes.
Foreclosure Homes USA
Lower Interesting Rates – Investing in foreclosure USA homes can be very beneficial, because the interest rates in the USA are significantly lower when compared with the previous years. This may be a once-in-a-life situation that might not occur again in the future. Thus, you need to make a decision as soon as possible whether to purchase a foreclosure USA home or to invest your money in something else. The reports show that the interest rates in America are lower than the rates in Australia.
No Foreign Restrictions – Another reason why many Australians are interested in purchasing foreclosure homes in USA is the fact that there are no restrictions for foreign buyers. All you need to do is to find a reliable real estate agent that will guide you through the whole process and will help you choose affordable foreclosure USA home. From a legal perspective, you need to either go to the US or hire a real estate representative who will seal the contract. The purchasing of the foreclosure USA home needs to be done through a US bank account, and some tax requirements need to be filled.
Higher Tax Return – As an Australian tax payer, you will need to include all your incomes, including the overseas properties you own. Thanks to the benefits provided by the Australian tax credit system, many people in Australia decide to invest in foreclosure homes USA. Due to the new foreign tax credit system, Australians enjoy big tax advantages for foreign properties, and have higher tax returns. Diversifying your foreign investment would mean paying less for tax.