I used to work in Apple New York. Moved back to India Made some money from crypto trading. Thinking of buying a home in bay area from that, my sister lives in bay area. Is it worth it to buy remotely? I'm worried about issues with liquidating the home from India and managing the property in general from India. My sister can help but she is a dummy when it comes to these things My logic behind buying a home now - 1. High interest rates are keeping a lot of people away from the market. Once the interest rates go down, prices should go up 2. If I buy a independent bungalow in Bangalore/Mumbai, the price is pretty much 1M+. Why not buy in Bay area instead ? #housing
Donβt do it
No
When the structure itself is worth 5% of the selling price, there is bound to be some crazy decomposing body shit you can't see on Zillow. No
Many Chinese investors are doing the same, why shouldn't you?
Yes, squatters need a place too
Does your sister have permanent residency or citizenship?
You'll be paying property taxes every month on the property, also when you sell it you'll have to pay taxes then too. Think very carefully. India is the market you should be investing in.
I'm in Bangalore currently, don't want to buy here - it's getting shittier everyday. Area around Cubbon Park/ UB City but out of my budget. Can buy in upcoming cities but I'm concerned around managing the property. Someone might encroach on the property. Also more difficult to verify property papers in India. In US, you have title insurance
There are squatters even in US. Think about the expenses and if it makes financial sense.
Sorry to shatter your dreams .. Independent bungalow in mumbai is more like 10M+ not 1M+ .. for 1M in central mumbai you can get a decent 3 bed in a decent gated society
Diversify your profits into less risky assets compared to dumping and locking most of your gains on a home that might not be fast to liquidate. Prices might go up but won't likely be comparable to stock market growth when rates start to actually come down mostly next year. No hopes this year
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