Reasons To Invest In Real Estate
Are you a foreign investor thinking about investing in real estate in the United States, but you aren’t sure? More than seven percent of all residential properties sold in the United States today are purchased by foreign buyers. If you’re considering a real estate investment in the Chicago area, it’s imperative to enlist the help of an experienced Chicago real estate lawyer. Some of the reasons that investors from around the globe are expressing so much interest in U.S. residential properties are:
1. Residential properties in the U.S. are a reliable hedge against inflation. Over time the value of a home tends to rise above the inflation rate, so a residential property is almost always a profitable investment.
2. The United States allows foreign investors to buy properties with few restrictions. Many invest in U.S. real estate to avoid the restrictions in their own countries.
3. The United States is the most stable and largest housing market in the world, according to the Association of Foreign Investors in Real Estate. Real estate investors assume a very low financial risk when they purchase residential properties in the U.S.
4. You’ll find a wide variety of options for obtaining a mortgage loan without major complications.
5. A wide variety of properties are available in every region of the country, including traditional single-family homes, luxurious mansions both on and off the water, spacious modern condominiums, and multi-unit apartment buildings.
Both buyers and sellers of Chicago-area real estate should know that Illinois law requires the sellers of residential property to disclose specific defects and problems with the property. Mandatory disclosure protects real estate investors; Illinois courts can impose stiff penalties in cases involving fraud or misrepresentation. If you are investing in Chicago-area residential real estate, it’s imperative to meet with a good Chicago real estate lawyer to determine how the mandatory disclosure requirement impacts your specific property and transaction.
