What is the annual cost of buying a house in America?

Real estate economic activity is a process of a large number of capital movements. Once the investment decision is made, capital investment is an irreversible and continuous process. Accurate investment decision is the key to ensure the success of the whole development project. On the other hand, mistakes in investment decisions will lead to huge losses. Therefore, prudent decision-making is a necessary prerequisite for real estate development and operation. To ensure the success of investment decision, we must do a good job in feasibility analysis and research on the basis of market analysis and financial analysis. These words also apply to China investors who buy houses in the United States.

For buyers, the lawyer's fees vary greatly, especially in new york, where the lawyer's fees are much higher than those in other cities. Property insurance is generally 0.3-0.5% of the house value. Other expenses are not much different in different regions, and can generally be controlled within 2000 dollars. Generally speaking, the tax on buying American real estate is within 2-4%. The specific cost of real estate in different regions and cities in the United States is different, and China people are not familiar with the transaction and transfer procedures. If you buy a house in the United States, you still need to consult a professional American real estate company and entrust them to handle it to ensure the most efficient transaction.

So, how much does it cost to buy a house in America every year?

1. US property tax or real estate tax:

Real estate tax, also known as "property tax" or local tax for short, is the general name of county tax, city tax and school district tax levied by local governments on real estate. The tax rate varies from state to state. Generally speaking, it is about 1-3% of the real estate appraisal every year. The school district tax is generally the highest, accounting for more than 60%.

2. Family insurance:

Residential houses protect houses from fire, flood, lightning and other accidents. Generally speaking, 200,000 houses are insured for $500 a year. Commercial housing can also protect the loss of rent. The average price is twice the price of a house.

3. Community fees or property fees

Community fees are generally paid for the maintenance of community public facilities, such as street lamps and public lawns, in houses with unified community planning. According to different community services, it probably ranges from 150 USD per year to 300 USD per month. The property fee is generally the public facilities of the apartment, which is generally about 300-500 dollars per month.

4. Housing maintenance fee:

For a single-family house, it costs money to mow and water every year. Every few years, large parts need to be repaired and replaced, such as roofs and water heaters.

5. Lease management fee:

If you invest in renting real estate and rent it to tenants, it is generally managed by real estate management companies in the United States. The commission is generally 8- 10% of the first month's rent. If it is a large apartment building, the management fee will be much less.

6. Loan principal and interest:

If the house has a loan, the principal and interest should be repaid monthly. In April 2009, borrowers with good credit records enjoyed a 30-year average fixed interest rate of about 5% nationwide. The floating interest rate of foreign borrowers without American credit is between 5% and 6%.

(The above answers were published on 2015-11-02. Please refer to the actual purchase policy. )

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