5 Great Reasons Foreign Nationals are Buying Real Estate in Santa Barbara, California
As the world has truly become global in the last 15 years, the wealthy are looking overseas to not just vacation but to also purchase real estate in resort areas in the U.S., especially on the coastline of California. In the last several years, I personally have been in contact with at least 10 international buyers.
Savvy buyers are coming from Canada, Europe and beyond to take advantage of California's real estate investment opportunities. Why is this the case?... There are several main reasons that foreign investors find California real estate so appealing? Location, Location, Location - This is by far the biggest
Resort areas such as Santa Barbara CA. are very popular with foreign nationals. The gorgeous topography and climate in these resort towns seem to suit just about anyone. In the Santa Barbara area alone you can find beachfront estates, ocean view homes, wine country property, ranches and more with a wonderful year-round climate. Property in these areas also tend to hold their value over time, and are easily filled with renters if needed when the owner is not occupying the property themselves.
Secure Ownership Rights California real estate has most likely as dependable of a property ownership system as you can find in the world. Open and transparent, any foreign investor purchasing property in California can feel comfortable and confident that he/she is purchasing property that is protected by our system of stable individual property rights.
Good Financing Options Outside of the immediate current lending crisis, the U.S. has always offered flexible mortgage options for foreign nationals.
Relatively Affordable Inventory As the housing market has softened and the U.S. Dollar has weakened, California real estate has become as affordable as it has been in the last 30 years. Both the British Pound and The Euro make any down payment here in the U.S. look like a discount.
Great Long-Term Investment Over time, homes in resort areas in California have held their value, making real estate holdings a good long-term investment. Whether you are looking for an investment, a second home, vacation property or to retire, California real estate in areas such as Santa Barbara and Montecito CA. will always be appealing.
For information on Santa Barbara Real Estate, Montecito Real Estate and/or our surrounding areas, as well as any other aspects of life in our area, please don’t hesitate to contact Kevin Schmidtchen at Berkshire Hathaway.
Thank you for reading. I hope you find Santa Barbara Real Estate Voice informative. Please feel free to contact me or comment below with any thoughts.
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