Different approaches have been tried to solve the growing economic problem. Among these methods is the training and retraining program introduced by the government. In some way, this desperate action was able to make a reach out in solving the imminent dilemma the society is in to. The economic status of an area leads to an increase in the migration rate of people going out of the said country, maybe too desperate to run away from the issue of economic crisis. This in turn, increases the number of foreign nationals who are keeping their eyes on different types of houses in the United States of America.
There is a remarkable increase in the types of homes in the country tat are desirable in the yes of many foreign investors. With the weak dollar and the collapse of housing market, the supply of houses for sale in the US had gone sky high while the prices are dropping low. This opens the gate for foreigners who wish to own a house or a vacation house situated within the premises of the country.
Below are the three types of house in the USA you can find for sale:
1. Residential Single Family Houses
This is the most popular type among foreign buyers as well as domestic purchasers. Residential homes have been at the vanguard of the housing crisis, especially in areas like California, Nevada, and Arizona. During the housing bubble, the markets of these areas experienced double digit home price appreciation. But, when housing bubble was brought to its end, these areas are badly affected as house prices dropped most dramatically.
2. Condominiums and/or Apartments
A condominium, or condo, is the form of housing tenure and other real property where a specified part of a piece of real estate (usually of an apartment house) is individually owned while use of and access to common facilities in the piece such as hallways, heating system, elevators, exterior areas is executed under legal rights associated with the individual ownership and controlled by the association of owners that jointly represent ownership of the whole piece. On the other hand, an apartment is a self-contained housing unit (a type of residential real estate) that occupies only part of a building. These two are considered to be the second most popular choice among foreigners, accounting for about 18 percent of all foreign real estate purchases.
During the bloom of housing fizz, resort areas where condominium building flourished, builders are too desperate to get their list off their books, leading to a hassle free transaction in making deals.
Accordingly, it has been said that the reason why many international buyers prefer condominiums rather than owning a family house is mainly due to lack of maintenance and services that are usually offered within the complex.
The name “townhouse” or “townhomes” used to describe non-uniform units in suburban areas that are designed to mimic detached or semi-detached homes. The distinction between “apartments” or “condos” is that these townhouses usually consist of multiple families, usually multiple floors. Townhouses ranked third in terms of popularity among foreigners. Accounting for just 8.9 percent of all foreign real estate purchasers, it has been attached to the idea that this was caused by shortage in the number of town houses available in the market compared to the number of single family homes or apartments and condominiums in the US. In line with this, the fact that many townhouses for sale are built in places that have kept their value fairly well during the downturn, they are considered not the best deal for buyers.
With the number of choices falling in line, foreign investors have savored the wide-range opportunities of finding the best house for them.