You Can Afford A Second Home In The Sun

Jan. 9, 2012 - PRLog -- You Can Afford a Second Home in the Sun

For many winter visitors, a second home in warm states like Arizona, Texas, Florida, and California is definitely a good investment. A property in such states can be a place for family vacation during the holidays where the winter season is really cold, a place for future retirement, or for possible revenue.

A state that currently tops the real estate market is Arizona. Many people prefer Phoenix properties for their second homes. It is because the state is still recovering from recession. With the ongoing price correction, striving economy, and the number of foreclosed properties that led to low rates, investing in Phoenix real estate is a good feat.

Aside from Phoenix, Scottsdale and Glendale are also suitable for investment. Known as major tourist spots in the greater Phoenix area, acquiring Scottsdale properties and Glendale properties is also an advantage if you want to put your property up for rent.

Why You Need a Professional Realtor

Buying a second home requires deep consideration, especially when you’re located outside the United States. Frequent trips to Arizona can be very costly and time consuming. With this, it is recommended to hire the services of a Phoenix realtor. Your real estate agent will look for the ideal home based on your preferences. A good broker knows different properties whether condo, townhouse, or single detached house.

You can also research online for second homes available in Arizona and let your realtor act as your representative in dealing with the seller. After agreeing with the home owner of the price, you can fly to Arizona to personally check the home together with the Phoenix realtor and a professional home inspector. Take note your concerns so you can air it out to the seller after the inspection. This can be your opportunity to lower the price if you’re not completely satisfied with the property and want to have some modification on it.

Guidelines for Purchase

With your trusted realtor, talk about the expenses involved when buying a Phoenix real estate or any Arizona property for that matter. This will help you prepare for the costs that will come such as the process of getting the title and tax rules for foreigners buying a U.S. based property, all atop of your broker’s professional fee.

If you’re a Canadian, you can easily acquire any of the Phoenix properties with the help of a housing mortgage as long as you secure a down payment of at least 30% and you won’t put it out for rent. Aside from banks, there are U.S. institutions that offer more secure loans for Canadians.

Meanwhile, filing a U.S. tax return is necessary when you’re planning to put your property out for rent. Most owners of Scottsdale properties and Glendale properties file a tax return since they usually make their properties available for rent throughout the year when they are not around. As we all know, these places are some of Arizona’s tourist spots and with its volume of visitors, businesses like hotel and other type of accommodations are certainly a hit. Know the tax regulations so you’ won’t pay taxes twice.

One Final Reminder

Take note that purchasing a second home in the United States doesn’t entitle you to a citizenship. There are certain rules governing an alien living in the U.S. on how long he can live in the country and what are his privileges and limitations. This also comes with various tax implications based on the nature of your stay whether it’s for tourist or business, or work. If you’re planning to reside in the United States permanently after several stays, you should apply for a green card that may also take some time.
will end up owning not just one but a number of second homes in different locations.


Maureen Karpinski
Find your Phoenix Arizona Property at http://www.cactuscountryproperty.com/city/phoenix.htm
Posted by Cactus Country Arizona Homes & Properties http://www.cactuscountryproperty.com

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Maureen has been in the real estate industry for 36 years as an agent and broker/owner of her own company. She prides herself in successful negotiation for both buyer and sellers and in building successful portfolios for investors. She is proud of her Agent friendly office environment that is her own creation and the caliber of real estate agents she has working for her. Maureen goes beyond fulfilling the needs of the real estate client and entrenches herself in the needs of Children in Need