First relax. Stay calm.
Second Florida, we have properties eg. one on the front page of our website for 109.000 US dollars down from 254.000 US dollars from 2 years ago.
It is wow. 3 bed, 2 bath, cape coral, nice area.
Ok, now the financials.
Weak dollar or not.
1. Government taxes per year. Approx 3000
2. Hurricane insurance 2500 per year.
3. Mortgage repayments, if you borrow 100.000k US at 5.5% say 600 per month. Depending if you borrow interest only or capital repayment.
4. Next non resident buyer 70% to 80%, so you going to have to put down a 20 to 30% deposit.
Ok the long and short of it, the numbers dont add up.
Right you rent in your country. Why. Are you looking for yourself to retire. Or what are you doing. If you are british you can not retire in the US. Unless you are rich or are married to an american, which I guess you are neither.
Weak dollar. Fair enough, but dont waste your money, the numbers dont add up. If you are buying for your pension fund and hoping in 2 years it goes up, you can do that, but what happens if it does not?
Can you afford the mortgage payments, what happens if you get no renters.
Running before you walk, you would do better to buy in the uk.
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