FREQUENTLY ASKED QUESTIONS
We have prepared a list with the most frequently asked questions. Hope this can further help you.
Did you not find the answer you are looking for? Please don’t hesitate to reach out to our team.
Are there any limitations for foreigners buying properties in the United States?
There are no limitations. Although the mortgage rate and requirements could be different for foreigners, there are no limits on purchasing and owning properties. Please be aware that if you are buying for investment you will need to pay taxes on rent collected even if you are a foreigner.
Besides utility bills, property tax applies to all types of housings and commercial spaces. If you have a mortgage property tax is included in your mortgage payment. If your property is a condominium (including double-deckers and townhouses), you will also pay an Homeowner’s association (HOA) fee, which is a fee for the upkeep of common areas and the building. Other cost items vary from property to property.
What are some costs of holding a residential property?
What are some additional costs in the buying process?
There will be a title insurance cost, attorney fee, inspection fee (if you so choose to conduct one), and some other small cost items. These are known as closing costs.
Yes. There is no regulation or policy that restricts foreigners from applying for mortgages. However, mortgage rates might differ from the U.S. citizens depending on the status of credit records. Additional criteria could apply to condominiums.
Can foreigners apply for mortgages? What are the limits?
How do I know which school district a home is located in?
You should call the school district in the area of your choice to confirm. You can also use websites such as www.schooldistrictfinder.com or www.greatschools.org but it is always best to call and confirm.
If you don’t prefer to make multiple visits to Boston during the year, we would suggest you delegate the management work. JW provides property management services to worry about the details for you and make sure you are maximizing your investment.
What is the estimated annual growth of property values in the greater Boston area?
The mean of the greater Boston area―based on data of six-year-long investments―is around 5% for annual growth rate. However, it highly depends on the area, neighborhood, policies, and the individual condition of each property.