Is it safe to buy townhouse on H1B?

If I were on an H1b visa, I would not purchase property until I received at least an EAD card and it became portable. Even if you do have to go back to your country of origin, the company that sponsors you may decide to relocate you.

With the number of H1B job losses and having to return home ..this may not be a good time

but only you know your situation

if you are EB-3~ the green card wait is many years ...

you may desire to verify the hire. the downside is which you by no potential very own the land--in basic terms the advancements--meaning that as quickly as the hire expires(and that i assume it is going to) you very own not something using fact the advancements grow to affix the land. additionally the cost of the townhouse will consistently be below comparable residences that incorporate the land. It additionally potential you've gotten a topic reselling using hire. Any proprietor has to contemplate the worst conceivable difficulty using fact the in all likelihood difficulty and be keen to stay with it. lenders are reluctant to lend on those residences using fact the collateral has a diminishing fee that is going to 0. the only maximum needed component is the dimensions of the hire. A one hundred 3 hundred and sixty 5 days hire is available yet a 25 3 hundred and sixty 5 days hire isn't. i might stay away. additionally verify the escalator clause that enables will improve interior the month-to-month hire fee. it is likewise significant. good luck!!

if you don't get a greencard you will have to leave and either rent the house through some agent or sell it.

You can have an H1B for a maximum of 6 years.

If you sell you you will most likely to have pay a real estate agent. In todays market it's not likely to move very quickly.

No. It is not safe. Besides, buying costs more than renting AND there will be NO price appreciation again, like the insanity of 20001 to 2007.

As well, with less than 6 years to pay, you will not get a loan unless you can put 50% down. The days where they financed everybody are gone.

There are no restrictions on foreign purchases of property in the US. On sale of the property, foreigners are subject to 30% withholding tax on proceeds of sale.

On H1-b, if you lose your job or violate any visa regulations, your visa is terminated immediately without any grace period. Owning property does not give you any grounds for applying for any sort of visa. This means if you have to leave, you have to give your attorney or someone Power of Attorney to sell your property and close for you.

Unemployment is currently over 22%, and many H1-b's are losing their jobs even before their visas expire. Do not count on being able to remain in the US for any length of time. Do not count on being able to find sponsorship for a green card - few employers will attempt to do that anymore, and fewer still can provide the requisite guarantees for your affidavit of support or 10-year guarantee of a job. Your chances of remaining in the US are probably very poor, and buying a house, condo, townhouse or anything is quite likely a very stupid idea. Only if you were actually able to obtain a green card would it be wise to purchase property.

Exception: Canadian citizen, retiree for example, who is eligible for visa waiver and wants a winter home in the warmer climes of the US. Since they have no need to work, plenty of income and can prove it, they can get up to 180 days on visa waiver as a tourist, and spend the winter in the US. They are called Snowbirds! Nobody but Canadians can get up to 180 days on visa waiver, and the catch is having sufficient income that they do not need to work, and would not attempt to work in the US.

You can no longer obtain a mortgage in the US unless you are legal permanent resident or citizen. No more mortgages to illegal aliens (except through fraud, in which case, they are subject to lengthy prison terms) or others without that green card. Loan terms have stiffened considerably over the past couple of years. You will have to pay cash in full if you do purchase a property.

you need to be sure the hire. the disadvantage is which you by no ability very own the land--purely the advancements--meaning that when the hire expires(and that i assume it somewhat is going to) you very own no longer something simply by fact the advancements grow to be area of the land. additionally the cost of the townhouse will consistently be below comparable properties that comprise the land. It additionally ability you will have a concern reselling simply by hire. Any proprietor has to contemplate the worst attainable difficulty simply by fact the probably difficulty and be prepared to stay with it. creditors are reluctant to lend on those properties simply by fact the collateral has a diminishing value that is going to 0. the only maximum obligatory ingredient is the dimensions of the hire. A one hundred year hire is attainable yet a 25 year hire isn't. i might stay away. additionally examine the escalator clause that facilitates will advance interior the month-to-month hire fee. it is likewise substantial. stable good fortune!!

You will not be able to get a mortgage on a H1B visa.

You have to be a Green Card holder and even that is difficult.

Sarah doesn't know what she is talking about. Even illegal people get mortgages.

I know of people on student visa that purchase a home through mortgage. If the worse should happen you have to go back home you can always rent or sell it. Its always nice to have a property somewhere other than your own country.