All Things Real Estate: Know the rules and regulations before investing abroad – Business
So you’ve now decided to purchase a vacation home or condo in a development or high rise outside the U.S. Maybe you are thinking of some exotic location, like Costa Rica where 200,000-plus from the U.S. and Canadian and other expatriates from other countries have decided to buy and eventually end up there to retire.
While the dollar is still somewhat strong in comparison to other currencies, it just might be an excellent time to consider your purchase. Moreover, interest rates have gone down once again to less than 3 percent, so possibly refinancing your home to take out additional money for the purchase might make a lot of sense.
If your current interest rate is at least 1-2 percent higher then it will save you money as long as you stay in your home 5-plus years or more. However, you will need to see what the total cost of the refi would be as you will…