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buying property in new york

buying property in new york

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Old Sep 26th 2010, 9:54 am
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Default buying property in new york

Hi all,

I'm new to this site so please forgive me or direct me in the way of the relevant post if this has already been answered somewhere.

I'm thinking of buying a small flat in new york as a second home, somewhere i can visit for a couple of months at a time. Could anyone tell me whether i would simply be able visit on a tourists visa again and again, probably 3 times a year or would i have to apply for some special kind of visa to do this?

Any help you could give me would be greatly appreciated, thanks in advance!
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Old Sep 26th 2010, 4:20 pm
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Default Re: buying property in new york

Originally Posted by 1983jg
Hi all,

I'm new to this site so please forgive me or direct me in the way of the relevant post if this has already been answered somewhere.

I'm thinking of buying a small flat in new york as a second home, somewhere i can visit for a couple of months at a time. Could anyone tell me whether i would simply be able visit on a tourists visa again and again, probably 3 times a year or would i have to apply for some special kind of visa to do this?

Any help you could give me would be greatly appreciated, thanks in advance!
If you qualify to use the VWP, it's best to continue visiting that way, for less than 90 days per trip, staying outside the USA more than you were inside the USA. Whether you will be safe doing that 3x a year indefinitely, no one knows. The POE agent can send you back home on any of your visits, especially if they think you are trying to "live" in the USA. Owning property in the USA is a strike against you in this case.

Your only saving grace might be if you are of retirement age. Many people do retire and then buy property in the USA, spending 6 months in, 6 months out. But it will depend on your age.

If you do not qualify to use the VWP, then your only choice is a B2 visitor's visa. Whether you will be successful in getting one, no one can say. You will need to prove strong ties to some place outside the USA. Again, owning property in the USA does not help your case.

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Old Sep 26th 2010, 5:11 pm
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Default Re: buying property in new york

Couple of months x 3 is getting dangerous.

I am not convinced of the merits of buying in this case, have you considered renting instead?
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Old Sep 26th 2010, 5:39 pm
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Default Re: buying property in new york

Does "a couple months" mean 89 days in this case?

Also, tell us a little about your situation. Age? Finances? Family?

A 25 yr old waiter would have a tough time pulling it off, but a 65 yr old retired CEO would not.
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Old Sep 26th 2010, 6:38 pm
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Default Re: buying property in new york

New York or New York City?

I assume you know how small and expensive a flat in NYC is? It is also likely to be a co-op, have you considered the co-op board might not want to sell to a person who is never there. Don't forget the co-op fees, in a doorman building they can be huge.
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Old Sep 28th 2010, 1:10 pm
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Default Re: buying property in new york

Actually I also wanted to ask same question. So buying a property doesnt help you for example to migrate to US parmanently?
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Old Sep 28th 2010, 1:15 pm
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Default Re: buying property in new york

Originally Posted by FairyTale
Actually I also wanted to ask same question. So buying a property doesnt help you for example to migrate to US parmanently?
No.
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Old Sep 28th 2010, 3:00 pm
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Default Re: buying property in new york

Originally Posted by helwardman
No.
It could do, look up the EB5 schemes.
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Old Sep 28th 2010, 4:14 pm
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Default Re: buying property in new york

Originally Posted by FairyTale
Actually I also wanted to ask same question. So buying a property doesnt help you for example to migrate to US parmanently?
No.

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Old Oct 5th 2010, 2:54 am
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Default Re: buying property in new york

If you buy a Co-op in NYC there is quite a bit of paperwork. Besides your mortgage you will also have maintenence fees every month. You will also have to go through at least one interview with the Co-op board.I agree that they might not want to sell to someone who is not there that often. I used to work in real estate and Co-Op boards are a pain in the but. You also don't actually own the apartment. You own shares of the building. Condos are a different story but there are far fewer condos and they tend to be more expensive. You might be better off looking into short term furnished rentals if you will be here a few months out of the year. Some hotels also do long term stays as well. I also agree that a couple of months stay a few times a year might raise suspicion.
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