International buyers purchased more than $68 billion in single-family homes in the U.S. last year–with 63 percent paying cash for the homes. If you’re going to be selling your home, it’s important that your realtor be adept at not just promoting your home to local buyers but to buyers who may be coming to Boston from around the world.
Why are international buyers drawn to the U.S?
Three of the leading reasons foreign buyers typically purchase real estate here are:
Moving for a new career opportunity
Housing for children who are attending a U.S. university
Investment and portfolio diversification
Stability is another key factor. “Home ownership is viewed by many as an important accomplishment in their effort to become established in this country,” according to the National Association of Realtors Profile of International Home Buying Activity Report.
Why are international buyers investing in property in Boston?
World-class medical care, strong public schools, and a vibrant, diverse economy are factors that attract many international buyers to the Boston area.
“Purchases by international buyers will probably continue to increase in the Boston area,” said Jed Smith, Managing Director of Quantitative Research for the National Association of Realtors. “Boston is attractive from a technology viewpoint, particularly as related to the universities and spin-offs.”
Where are international buyers coming from?
Currently, we’re seeing the majority of international buyers coming from:
Canada
China
Mexico
India
UK
Why is it important for my realtor to market my home to international buyers as well as local home buyers?
International home buyers are a growing segment in the Boston area. To help you get the highest price for your home, your realtor should have a well-rounded marketing plan that includes outreach to potential home buyers around the world.
What can I do to make sure that my realtor is reaching international buyers?
Ask your realtor to share a detailed marketing plan of how they will reach buyers around the world. Tip: This should include more than just posting your home on real estate websites.
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