Buy Property in the USA: Prices, Cities and Rules for Non-Residents

Houses are about 71% of listings, mostly single-family homes in suburban neighbourhoods. Apartments include condominiums and co-operatives; condo buyers should read the association's budget, reserve study and any pending special assessments. Co-ops, common in New York, can restrict foreign or non-resident ownership through board approval, so check the building's rules.

Land listings number 5,767 and need zoning, access, utility and flood-zone checks, particularly in coastal states.

The US has no federal prohibition on foreign individuals buying residential property. Some states restrict ownership by buyers from certain countries of concern, and purchases near military sites can face national-security review, so check state law.

1. Pick a state and budget. Rules, taxes and insurance vary widely.
2. Hire a buyer's agent. The agent shows homes and negotiates; fee arrangements have been changing, so clarify in writing.
3. Make an offer. A signed purchase contract with earnest money is typical.
4. Inspect and finance. The inspection, appraisal and title search follow, with contingencies you can use to renegotiate or exit.
5. Close. A title or escrow company or attorney handles funds and records the deed; closing usually takes 30 to 60 days.
6. Set up taxes and insurance. Non-residents often need an ITIN for tax filings.

Our buying property in the United States as a foreigner guide covers each step.

Costs differ sharply by state, so treat these as broad ranges.

Some US lenders offer foreign-national loans, generally requiring 25% to 40% down, proof of foreign income and assets, and an ITIN or passport. Rates are normally higher than those for domestic borrowers, and approvals can take longer. Many foreign buyers of second homes choose cash. See our US financing guide and test affordability with the mortgage calculator.

A property purchase does not give you the right to live in the United States. The EB-5 immigrant investor route requires investment in a qualifying commercial enterprise, not a home. Many nationalities can visit for a limited period under visa-waiver or tourist visas; check how long you can stay and whether you can rent the property out. Talk to an immigration attorney for anything beyond holiday use.

Pros

• Open market with no general bar on foreign buyers
• Deep choice of property types and price points
• Strong legal protection of title, with title insurance
• Dollar assets and well-developed rental markets

Cons

• Closing costs, taxes and insurance vary widely by state
• FIRPTA withholding and estate-tax rules can surprise non-residents
• Condo associations can raise fees or levy special assessments
• Non-resident mortgages need larger deposits

Use the US market analysis for investor context, look at cheap properties in the United States, or contact us to discuss a shortlist.