The USA attracts foreigners with multiple perspectives and implements the idea of a happy future.
The expats come to popular cities, like Hollywood, to make their dreams come true and to live among superstars.
However, is this image of Hollywood consistent with reality? And why are some investors prevented from buying apartments in Hollywood? Let`s find the answers.
Hollywood does not welcome foreigners
There is a popular myth that Hollywood is not a welcoming destination for expats. The locals express some hostility and nastiness. However, those who live in Hollywood for a long time, absolutely disagree with this fact.
Hollywood is for everyone who has language and communication skills. Half of LA is from out of town.
True, connections and acquaintances decide much but not everything. Charm, charisma, and desire to work hard are fundamental qualities for any person.
Extremely expensive housing
This is an unpleasant but realistic fact. Moving to Hollywood, it is necessary to be ready to manage a huge budget. Affordable apartments are on the market as well; still they cannot be called inexpensive.
Finding an apartment or house is the first thing you should think about when moving to another country.
In the U.S. to rent a more or less simple apartment will cost you at least $2,000.
In addition, there is no way to do without an agent, and he will ask for his services for a considerable amount.
Regardless of high cost, purchase of real estate in Hollywood becomes a beneficial investment.
You get not only a home in a star atmosphere but a fully equipped housing unit with the necessary appliances – stove, dishwasher, washing machine, and refrigerator.
And the newer the house, the more modern the appliances are. The bathrooms are usually tiled or even marble, and there is a full set of plumbing plus whirlpool tubs and shower cabins.
Credit rating is important when buying a home
If you are taking out a mortgage, the credit rating is extremely important for your own profit.
The higher your credit score, the better your credit history, the better mortgage terms the bank will offer.
A buyer with a higher rating will be approved by the bank for a lower interest rate and a smaller payment compared to a buyer who has a lower rating and a higher interest rate on the loan.
In the situation of buying a house for cash, the credit rating does not matter.
Real estate purchase is possible only with the offline presence of a buyer
Not necessarily, you can buy real estate remotely, through the U.S. Embassy, following the process on the Internet. The most important thing in this case is to choose a good realtor you can trust.
At this option, the buyer transfers the money to a trust account of the realtor (or a lawyer, if the transaction is carried out with his participation).
At the end, the amount will go to the seller. Many experts advise resorting to remote buying only when absolutely necessary. Even the most experienced realtor cannot protect you from all possible risks.
Beneficial characteristics of real estate in Hollywood
Hollywood is to be viewed as a region for permanent stay as well as a profitable investment project.
From an investor’s perspective, the district has the following advantages:
– Local legislation that effectively protects the rights of buyers and controls the activities of companies involved in the construction and sale of real estate;
– Taxes in Hollywood are low as well as in the whole state of Florida;
– Wide range of properties for every budget: from small studios to luxury villas by the ocean;
– Excellent social infrastructure in the district
The outcomes
If you have decided to invest money in Hollywood, Florida regardless of all the above-mentioned myths and prejudices, you are on the right way.
Florida.Realestate is the first step on the path to a successful investment future.
The website offers stylish apartments from famous developers and trusted real estate agencies.
A buyer has a chance to compare the prices on topical housing units in the best locations of the district.
(pic under creative commons licence by Clementp.fr)
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