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if you are here for 5 years I would not purchase a home but rent, and in the current market there are some excellent bargains where people have had to move out of state and decided not to sell in a distressed market and rent their home instead. One thing you need to take account of here is that Realtor costs when you come to sell in 5 years are 6% compared to 2% in the UK, so you would need $20k appreciation just to cover that cost. With the market still dropping and no guarantee that it will increase there is no incentive to purchase for a 5 year residence period.
Also, I trust you have all the US Visa issues resolved and documentation in place as the Immigration people at RDU are very strict in enforcing the Visa procedures - face it they only have one aircraft a day to deal with so have pleanty of time to enforce the rules rigidly.
Another factor is that you will find it difficult to get a mortgage if you buy as you have no credit history and for bank accounts credit cards you will need a letter of introduction from your wifes employers. Good luck
Quote:
Originally Posted by steve&helenhead
My wife has the opportunity to work in the US for the next five years or so. We are a family of 3 (White Caucasian - if that makes any difference) - myself, aged 60 and retired (but with both feet firmly outside the grave) my wife, age MYOB and a daughter 14 (going on 21 - ie should leave home, get a job and earn loads of money, while she still knows everything!).
Our priorities are:
Schooling - quality high school (don't understand what year round schooling means, please enlighten)
Housing (the boss will be working from home or US-wide so airport access is relevant) - our budget is circa $300,000-$350,000 as we will be keeping our UK home ftb (just in case we get run out of town - or run ourselves out, for that matter).
Community - we want to integrate so community facilities, church, sports etc are relevant. Someone told us Southerners are 'the best' is this true?
Sorry, could write a book - but we would appreciate some hard information.
Only constructive replies please - don't need xenophobic nutters!
Regards
Steve Head
Hi Steve and Helen, I join in your quest for information. We are planning to relocate to the area as well. We have planned a trip in two weeks. Our concern is the same as yours as we have a 15 year attending high school. If you contact a relocation specialist, it might be helpful. I have researched online for months, and still am uncertain, hence the trip to hopefully help. We are looking for a diversed family oriented community. We are job seeks though, so our search is a little different. If you have information please share with us. We will be returning on the 29th, so please feel free to ask about our visit and we will gladly share info.
One thing you need to take account of here is that Realtor costs when you come to sell in 5 years are 6% compared to 2% in the UK, so you would need $20k appreciation just to cover that cost.
The key thing to note is this is the maximum Realtor percentage. You can use a Realtor who charges less than this. Anything from full service to partial service. No one needs to pay 6% anymore, even for full service.
The key thing to note is this is the maximum Realtor percentage. You can use a Realtor who charges less than this. Anything from full service to partial service. No one needs to pay 6% anymore, even for full service.
Error! Error!
6% is assuredly NOT "the maximum."
There is no maximum, just as there is no minimum.
Thanks for the sincere appreciation! In point of fact no 'xenophobic nutters' have replied, so far. To try and maintain the humour (sorry, humor) I should explain that the English are very sensitive to xenophobia; we KNOW everybody hates us,
Moderator cut: WAY off topic
By the way, I see you're an estate agent, is that domestic or commercial or don't you make the distinction there? Hopefully if this thing continues to run I can come back to you for more specific advice (if I haven't offended you too much!).
Last edited by Green Irish Eyes; 06-14-2010 at 04:32 PM..
Reason: Let's not get into all that, please, as it can quickly derail this thread.
While acknowledging the technical point, you may stil be in error.
"Full Service" has significantly varying definitions.
I did make the distinction from partial service to full service. This would include varying definitions of full service. There are Realtors who offer complete full service for much less than 6%. We have been conditioned by market forces to assume 6% gets you something 4 or 5% does not. Sometimes it may and sometimes it may not. Shop for a Realtor the same way you would shop for a home. Get the best price for the best product.
Ahem. The real estate commission discussion is interesting, but not what the OP is asking about. Might we get back to that, please?
Thank you .....
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