When it comes to U.S. Real Estate, Florida has various "Winter Getaways, at affordable prices for any Canadian wishing to invest
As a Canadian, you can cash in on the properties available in Florida due to the previous economic recession. The housing market in Florida is still recuperating, which is why Canadians will find great investment opportunities for the perfect winter getaway.
Florida developers and banks are offering great pricing for U.S. real estate and with the stronger than ever Canadian dollar, there are beautiful properties available for discount pricing.
Canadians are now, more than ever taking advantage of what Florida has to offer!
The economic recession has affected the Florida real estate market. Banks and builders are offering tremendous opportunities for Canadians who seek to purchase winter getaways or to relocate to a state that is always sunny while avoiding the harsh inclement weather of Canada.
Canadians have weathered the recession like the true Canucks we are, which is why we take advantage of the recession in the form of investing in U.S. real estate. The opportunities are endless, and there is information that Canadians should understand before indulging into U.S. real estate investment opportunities in Florida.
Owning U.S. Real Estate in Florida is different in comparison to owning real estate in Canada.
There are numerous factors that must be considered; such as taxes, legalities, immigration laws and most importantly, seeking out the financing for property investments.
Florida’s tax laws can appear confusing for anyone. Canadians should always calculate the property tax before jumping into real estate investments in Florida, however note that the property taxes in Florida are not allowed to increase more than ten percent in one fiscal year.
If you invest into Florida real estate, the US government will bill you annually for property taxes on January 1 of that particular year. These US property taxes can prove confusing, but keep in mind you should remain flexible. Sometimes rates change due to political legislation and sometimes, homeowners and business owners benefit, or suffer, due to this action.
As confusing as property taxes can be for Canadians, Florida real estate is worth every dollar for investment. Florida has beautiful weather all year round with numerous retirement communities advertising with discount pricing. With the Canadian dollar performing so strong against the American dollar, the best it’s been thus far, investing into Florida properties makes perfect sense for Canadians. Another key point to note is that property taxes and insurance are high in Florida and where this may be so, most of the costs associated with taxes and savings on the purchase price of your investment can offset your insurance.
Keep in mind that if you rent out your real estate investment, it can be arranged so that your expenses, including interest, are deducted from your income, which is a benefit not offered in Canada. Remember that lower, net income is not taxed by Florida, but by the U.S. real estate, which still proves lower than in Canada.
Sam Kakembo - U.S. Real Estate
Auxo Homes is an asset management of the company portfolio of emerging markets. The majority of his investments are made in single family rental properties.
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