Buying Property in the United States

Buying a home in the United States has its benefits. Buying land or property provides tax benefits, is a good investment, and will improve your credit rating. Whether this is possible for expats is largely based on the state of residence as well as income.

Here, housing experts from Fieldbridge Associates LLC share some important facts to have into consideration if you are a foreigner and you are interested in buying an apartment in the United States. 

Fieldbridge Associates LLC is a Brooklyn-based company, which operates in the Apartment Building Operators business / industry within the Real Estate sector for approximately 32 years. The company employs approximately 60 people at a single location.

Fieldbridge Associates LLC experts explain that, technically, there are no visa requirements for foreign citizens who wish to purchase a home in the United States. The United States accepts foreign investment as long as it can be shown that the funds come from legitimate sources (not the product of illegal activities). In some cases, an EB-5 investor visa can be granted, but generally, buying a property does not guarantee a visa or permission to work in the country. Also, if you need a loan from a US bank to buy property, you won't be able to do it without proof of your residence and employment, a Social Security or Tax Identification number, and an established credit history. 

Fieldbridge Associates LLC experts share the fact that, lately, overseas big investors are interested in investing in the super-thin skyscrapers in New York. However, there are more affordable options for small investors, such as the apartment building of Fieldbridge, Ebbets Field Apartments.

Housing experts from Fieldbridge Associates LLC indicate that homes can be purchased directly from the owner or through third parties called estate agents. Searching for a home is much like searching for an apartment and can be done through online listings, newspaper ads, driving through desired neighborhoods, or contacting an agent (real estate agent) to help facilitate your search.

When it comes to searching for luxury apartments in the super-thin buildings, more information you can find in this Medium post by Fieldbridge. 

Another important thing to know, shared by Fieldbridge Associates LLC experts is that a social security number (SSN) is used to track people for tax purposes and is a common US identification.

Another option for expats is the Individual Tax Identification Number (ITIN). These identifications are issued based on your type of visa. Permanent and temporary residents must apply for an SSN or ITIN as soon as they are issued a visa.