Have you been looking at the US real estate market wondering if you should take advantage of the still low prices and snap something up before the US Fed raises interest rates and home prices start to increase?

“With U.S. real estate making a comeback, is it still a good time to shop for a south-of-the-border vacation condo? According to NAR, Canadian snowbirds and investors are still finding good deals. Residential home prices in the U.S. are slowly climbing back to pre-crash levels, but prices on vacation homes are still 20% to 40% lower than half a decade ago. “It’s not just retirees who are interested in a U.S. vacation home,” explains NAR’s Harry DeLeeuw. These days families in their 30s and 40s are also making the leap and buying a U.S. condo investment.”

While it might seem like a great idea to buy investment property in the US – low prices, huge inventories etc. – remember that financing real estate purchases in foreign countries is not as easy as you think.

Before you consider purchasing south of the border, talk to me!

Source: MoneySense.ca