petitefrancaise

Just thinking about that at the same time as you.

MidAtlantic

I just provide the information, not the possible conclusion

Pulaski

I wouldn't. In real (inflation adjusted) terms transatlantic flights have been in almost continuous decline for as long as transatlantic flights have existed. While there is no guarantee the trend will continue forever, it is going to take something pretty radical to break 50 plus years of trend.

Twinkle0927

Will you be employing someone locally to take care of it when you're not there? My concern would be that if a place looks obviously unoccupied for many weeks/months at a time it could open you up to burglaries or even squatters? You won't want to arrive and have to spend your first days of your holiday cleaning and cutting back weeds.

I'm sure you've looked into the costs of flights and have your own reasons for the choice of location. That's really no one else's business. I certainly wouldn't buy a holiday home in a place I didn't like just because the flights are 50 quid cheaper. So fair play to you for choosing somewhere that you like.

The point others are trying to make with regards to immigration is that with a home in the US it might be harder to convince the CBP officer when you arrive that you don't intend to overstay. It's a lot easier for people with a property here to "forget" to go home than someone with a 2-week hotel booking whose money for hotel living will eventually run out. A B-2 visa won't help much for the length of stay you are thinking of - you still have to overcome the same assumption by the CBP officer that everyone who arrives here is wanting to stay. The VWP is perfect for your visits.

petitefrancaise

what I meant was, don't assume that cheapish flights will go on forever or be available when you need them...

I've got $600 return IAH-AMS in August this year. Next Spring Norwegian have $700 return to LGW. If I were doing the long term planning for a holiday home I would not bank on those fare lasting or being available when I needed them.

petitefrancaise

If you are of retirement age then it would be a good idea to check out travel insurance costs.

And find out how it might increase as you get older.

Kaygee276

Wow you guys are super-informative!

OK so to put things into perspective so that there isn't any speculation.

My and my hubby are late 40's. early 50's - so retirement is a while away (unfortunately).

We each have our own UK based companies, and we are contracted to different clients (in the software industry) which allows us to make some money and take plenty time off when we need it, hence 3/4 vacations per year.

Flight prices... yep, they can be expensive, but at least we are in a situation where we can travel prices when lower.

Empty house - yes this is something... but we are hoping technology might be able to help us out with this, but we are also looking at management companies and pricing these too.

Rete

Wondering if you can't rent out the home while you are not using it to vacationers (not friends and family) or perhaps list it with an agent as a corporate rental for visiting employees or with a relocation specialist that needs a place for new employees to stay while they house hunt. A good management company can come in and oversee the property in your absence, check for damage by renters, hire a cleaning service to set things right and ready for the next guests.

It would help offset the cost of the home, insurance, management fees and not leave the home empty at all times.

petitefrancaise

I have a friend that bought a quarry in Arizona. He's a paleantologist and happy as Larry digging around out there. I'm just saying this because I know it's different strokes for different folks..

Anyway, not wishing to be too nosey and not wishing to put you on the defensive at all -just curious, why AZ or NV?

Pulaski

Post #10, above.

SanDiegogirl

Not likely to get the B1/B2 visa then as you are still young, of working age and are eligible for the VWP program.

Intending to spend 24 weeks of the year in the US on the VWP program , might mean that at some point an official might refuse you entry - too many visits and basically living in the US while on the visitor program.

Ecto17

Condos opposed to a single family home might be worth considering as you are likely to have less maintenance such as roof etc but also they will manage the external grounds and you could choose one with facilities such as tennis, pools etc. They are likely to be easier to secure and a good way of meeting people. They do come with high monthly maintenance charges.
Our family has had a condo for years and the property tax fluctuates but is pretty high.
Some of the monthly costs to consider are, utilities, insurance, pest spraying, cable and internet etc.
As pointed out the realtor cost if you sell will be very high compared to the UK.
Additionally you may want to look into car rental costs as that could add up for those periods of time. You could purchase over here but you may have difficulty getting a US licence in that state and therefore not be able to purchase or lease. Each state seems to differ slightly.
Our travel insurance only allowed us up to 30 days so may need to look into travel insurance for up to 6 weeks.
Finally you will be buying at a terrible exchange rate and you may loose money if the currency markets readjust over time.
Hope that helps, sounds an exciting time for you.

Weeze

Having recently had the fun of maintaining a rental property while living away (and we were still USA based), it's a pain. We had a company that supposedly did everything for us. Checked the property, checked the tenants bla bla bla. Came highly recommended. It was just stressful. If the point is being able to come and visit something that feels like your home a few times a year then I wouldn't have got that feeling from our house. Even with a pool service, yard service, cleaning service, it just felt unlived in. I know doing short term a few weeks lease at a time would be different, but it would need to be a HUGE cost difference for me between owning and just leasing a vacation home when I travelled to be worth the stress. Just my 2 cents worth.

malch

Amen. When we moved to the USA we kept our UK property for a few years. Had a pretty decent agent handle the rental. But, like you, I found it very stressful and a lot of hassle. Financially, it made a very small profit but nothing to get excited about. I felt a huge sense of relief when we finally sold the place.

Maybe it works for some folks but managing a rental on another continent is definitely not something I ever want to do again.

Steve_

Had this thread on here about a million times, there was a lengthy one in the Canada section about buying a house in Florida a few years ago if you want to search for it.

Doesn't make sense to buy a vacation home in Nevada, they have no State income tax so the property taxes are pretty high.

In Arizona the problem is that the housing market is red hot at the moment so finding something is tricky plus the exchange rate is crap.

Maintenance isn't a big issue, not sure why that's been brought up, Nevada and Arizona are largely deserts, the main problem is having a window cleaner and a pressure washer to wash off the sand. Make sure you get termite treatment done.

The main issue is all the federal tax stuff, if you want to rent it out it gets quite complex as you have to file a 1040NR to report the tax and there are two different methods of doing it, effectively connected or not effectively connected with a business. To cut a long story short, it makes more sense to do it as effectively connected with a business as the paperwork is easier. IRS publication 513 used to give a quick summary but the IRS stopped publishing it, so now you have to piece it together from publications 515 and 519. This old CRA publication is quite useful: http://www.cchwebsites.com/content/p...en/p151_en.pdf Read page 16 onwards.

The other thing is this hang up on the "substantial presence test" which applies to almost nobody because the relevant tax treaty for your country overrides it, plus you can also override it by filing form 8840. Basically if you're in the US less than 183 days a year, you aren't resident for tax purposes.

In Arizona there's also State income taxes that have to be paid on rental income. Then you claim a foreign tax credit in your home country and report the rental income there.