Invest in US real estate, is a good business and alternative for Canadians

Foreigners, some of them Canadians, invested $ 104.5 billion in properties in the United States, buying basically in Florida, especially in Orlando, Miami and its surroundings, as well as California, New York, Texas and Arizona, because the time left is free. Properties can be rented easily, allowing a double business.

MIAMI.- Similar in Canada, the Chinese millionaires, followed by the Russians, and Indians, are buying homes in the United States as an investment, but it is actually the Canadians who buy more real estate in the neighboring country, mostly as a second home for spending the winter seasons, but now also like a big business, especially in Orlando and Florida for the rent they receive when the property is not occupied, because this area is very touristy.

It is no secret to anyone that many of the Canadians who retire or enjoy their retirement spend much of their winter outside of Canada, especially in the Caribbean, but historically in their homes in Florida, USA, where they have bought or rented many properties, which have been significant investment over the years.

Last year foreigners did business for more than $ 104 billion, more than the $ 92.2 billion made three years ago, especially in Florida and Arizona, where Canadians tend to choose because the weather is much warmer.

Although according to data from the National Association of Realtors in the United States the number of properties acquired by foreign buyers in the US, including Canadians, has fallen a bit in recent months, because the US dollar has strengthened against In other currencies of the world, including the Canadian dollar, the demand for excellent properties continues to rise, due to the prices at which some homes are obtained, compared to the value of a property in Canada, but especially profitability.

The low prices reached by homes in the US, after the economic crisis generated by a supposed real estate bubble, allowed many foreigners to keep excellent properties, especially in Miami and New York, which today can reach astronomical prices in the United States. Market, so many investors are still looking in the neighboring country for those offers that remain, but you have to search with a magnifying glass or find a good advisor to help you in the purchase and do good business.

Several factors have made it very profitable for Canadians to invest in real estate in the US in recent years, the first of which is the low prices reached by many homes compared to Canada, especially in Miami and New York. To that, it was added that at several moments the Canadian dollar was for months above the US dollar, to change, which was taken advantage of by some.

The weakness of the dollar genre that the housing prices affected by the economic crisis in the US, were very attractive for Canadian investors, who managed to get houses of great value, but at meager prices. Currently, the US dollar is well above the Canadian, but despite this still suitable housing is achieved in Florida, where many Canadians and foreigners keep coming to find a summer home, to spend the winter, and to rent it at another time of the year.