Purchasing real estate in the USA can be a dream come true for a lot of people. However, the transaction can also be associated with a lot of anxiety, and this is true for anyone (but this is especially the case if America is not your native country!)Not to worry, as this process of choosing your apartment can be broken down into a series of smaller, more manageable choices and steps. In this post, we’ll outline these steps so that you’ll know what to expect – and be poised to take action. Then, we’ll go over what to do after you’ve made those decisions. 

Determine your budget

Beginning to look for a new home without assigning any filters to your search can result in an overwhelming number of options. So, get settled on a budget upfront. When you’re shaping this number, be sure to factor in some of the “hidden” costs that might be so obvious: utilities, taxes, maintenance, homeowners' association (HOA) fees, and insurance costs.

For foreign investors, it’s also important to be aware of potential financing challenges upfront. Some US banks might require a larger down payment or have specific mortgage conditions for non-residents. It can be beneficial to consult with a financial advisor or real estate professionals.

Choose a location

Different locations can demand different budgets, so this next choice naturally follows. Think about the kind of lifestyle you’re looking for: something in the city, more suburban, or off the beaten path? Additionally, consider the climate and terrain where you’d like to live – the USA is full of diverse choices.

For a more thorough choice be sure to consider the following factors, as they apply: proximity to work or school, crime rates, access to public transportation, and nearby shopping, dining, and parks.

If you’re purchasing as an investor, locations in high-demand urban areas or emerging neighborhoods can offer better returns on investment. In any case, researching local market trends or consulting with real estate professionals can give you valuable insights here.

Solidify what kind of home you’re looking for

Are you looking for a house or an apartment? How many bedrooms will you need? How much land should be attached to the property, if any? When it comes to homes, there are an endless supply of potential configurations, and this can quickly get dizzyingly confusing if you are prepared. By nailing down this category of questions, you’ll be able to better focus and narrow your search – and ultimately cross the finish line a lot faster than if you weren’t so sure about these points. 

Even if you’re relatively flexible with what you’re looking for, try to make a note of any deal breakers or must-haves and get these out of the way first; filtering for these will only serve to make your quest much faster and more efficient.

Think about the layout and design, accessibility features, and in the case of an apartment or a condominium, consider building amenities (like gym, pool, and security features) and pet-friendliness.

Once you’ve gotten that out of the way and you’ve found some options, there are a few things to keep in mind during the subsequent process to increase your chances of a happy outcome.

Learn about the relevant local laws

Additionally, at this point, understanding local real estate laws and regulations is crucial for foreign buyers and renters. Key points to consider: lease agreements and tenant rights, zoning laws, property tax regulations and foreign investment regulations (FIRPTA). And remember to reach out for help where you need it.

Evaluate the property and the surrounding area 

Once you’ve shortlisted some potential candidates, it’s time to check the property and the neighborhood. Schedule a visit and take a look around. Some important things worth closely scrutinizing include the building condition and age as well as the quality of maintenance and management (this applies to both homes and apartments).

Beyond that, visiting the neighborhood at different times of the day can give you a better understanding of the living environment. Get an idea of the levels, community atmosphere, and future development possibilities for the area.

Do a more thorough inspection

A thorough inspection is essential to avoid any unpleasant surprises after moving in. Make a checklist and look for structural issues (such as cracks or leaks), verify the plumbing and electrical systems are in order, do a test of the HVAC system, and keep an eye out for any pest problems. 

If any of this seems overwhelming, again, remember that turning to a professional can help bolster your confidence, and is always a good recommendation.

Remember, the key to a successful apartment search is preparation and informed decision-making. Determine your budget, preferred location, and the type of home you’re looking for. Then, once you’ve got some options to work with, familiarize yourself with the relevant local regulations, schedule a visit and evaluate the property and surrounding area, and take care to do a more thorough inspection of the critical aspects that come with selecting a home. 

Don’t get overwhelmed, don’t get intimidating – and happy hunting!