How to buy land in Italy as a foreigner: UK guide
Looking to buy land in Italy? Read our guide for average prices, the buying process and what foreign buyers from the UK need to know.
Buying property in the US as a UK foreigner in 2026
If you’re buying property in the US as a Brit , you’re likely dreaming of a backyard larger than a London flat. But, you probably aren’t dreaming of the paperwork mountain that comes with it.
Swapping drizzly British mornings for the American Dream is an exciting leap, provided your budget doesn't get lost at sea. We’ve put together the ultimate guide for expats moving to the States, covering everything from the nitty-gritty of the purchase process to the expensive pitfalls you’ll want to dodge.
We’ll also introduce a reliable and cost-effective way to send large sums internationally from the money services provider Wise. Over 14.8 million people worldwide use Wise to move £36 billion every quarter.
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Can UK foreigners buy property in the US?
Yes, foreigners can buy property in the US. However, it’s important to remember that there can be significant differences between states when it comes to real estate laws, taxes and other conditions.
So, you’ll need to check the requirements in the area you’re looking to buy in.
Can you buy real estate and get residency?
Buying a property in the US does not give you automatic or direct rights to permanent residency.
To live in the US, you’ll need an appropriate visa or residence status which must be applied for separately to the house purchase process.
To apply for residency there as a UK citizen, you’ll usually need to go down the route of employment, starting a business, studying or having family ties in the US.
| 📚 Read more: Countries that offer citizenship by investment visa |
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What’s the real estate market like in the US?
The US property market is relatively stable at the moment, with property prices growing slowly and more sustainably than in previous years. As of February 2025, US home prices increased by 3.88%.¹
Cities such as New York, Chicago and Cleveland saw the highest growth among major metro areas, with Denver and Dallas nearer the bottom end of the table - with Tampa the only metro area to see a drop in house prices in 2025.¹
Affordability is a key concern in the US property markets, thanks to high mortgage rates, ongoing supply shortages and subdued demand.
What this means for you as a buyer is that you may need to pay more - both for your property and your mortgage - to snap up your dream US home.
Is property a good investment in the US?
Weighing up whether the US is a good place to buy property abroad? Here are some pros and cons to consider.
Pros:
- No restrictions on foreigners buying property or land
- Good potential for long-term appreciation - while market fluctuations are inevitable, the US property market has seen sustained growth - and property experts expect this to continue¹
- Good rental potential - due to consistent demand from a larger renter population, and certain cities offering high rental yields
- Tax benefits - property buyers can take advantage of deductions for mortgage interest, property taxes and depreciation, which can lower taxable income
- Cheaper property prices - while the cost of living in the US may be slightly more expensive than the UK, property prices are around 43% cheaper.²
Cons:
- No route to residency through the purchase of property
- High initial costs - including closing fees and taxes (especially for non-resident foreign buyers)
- Mortgage conditions may be stricter and harder to meet for foreign applicants, and you may need a larger deposit.
| 📚 Read more: Pros and cons of living in the United States (US) vs the UK |
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How much are the property prices?
So, how much is property in the US? This is an essential thing to know as you set your budget and start your search.
Generally speaking, US property prices are around 43% cheaper than in the UK,² depending on whether you buy inside or outside of a city centre.
However, it does of course vary considerably depending on what you buy and in which part of the country.
If you're wondering where to buy a home in the US, here are the average property prices per square metre across major cities:³
| City | Average property price (per sq.m in USD) - apartment (city centre) | Average property price (per sq.m in USD) - apartment (outside of centre) |
|---|---|---|
| New York (NY) | $20,696 | $7,997 |
| Boston (MA) | $12,332 | $6,143 |
| Washington, D.C. | $8,471 | $3,665 |
| Dallas (TX) | $7,697 | $2,892 |
| Los Angeles (CA) | $7,597 | $7,059 |
| Seattle (WA) | $7,356 | $5,124 |
| Miami (FL) | $6,930 | $3,769 |
| Las Vegas (NV) | $4,716 | $2,698 |
| Portland (OR) | $4,026 | $3,294 |
| Chicago (IL) | $3,736 | $2,541 |
However, it very much depends on exactly what and where you buy, along with other factors.
And, if you’re arranging your property purchase from the UK, you’ll need a safe, reliable and preferably low-cost way to send over fees, deposits and other payments.
The Wise account could be a great solution, with transparent, low fees, and multiple layers of security, so you can safely transfer large amounts both in the UK and overseas.
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Where is the cheapest place to buy property in the US?
If you’re property hunting on a budget, the cheapest states in the US for property prices are:⁴
- West Virginia
- Arkansas
- Mississippi
- Alabama
- Louisiana
And speaking more generally, you’re likely to find much cheaper property if you look outside of city centres and popular urban areas.
Best places to buy property in the US
The best place to buy property in the US all depends on why you’re buying. It’s a huge country with a vast array of landscapes, climates and cultures, so there really is something for everyone.
If you’re looking to live in the US as an expat, a major city like New York, Los Angeles or Boston offers all you could want in terms of lifestyle, culture, job opportunities and amenities.
If you’re looking to retire abroad, the warm climates of sunny states like Florida, Arizona, and California are popular choices with expat retirees.
For rental potential, you might want to look at cities such as Austin (Texas), Tampa (Florida) or Cleveland and Detroit in the Midwest - all of which offer strong job growth, population influx and affordability.
How to search for a property in the US
If you’re new to the US property market, it could be worth using a specialist real estate agent to help you find the right property.
They’ll have knowledge of the local market, and they can guide you through the buying process. This service is likely to come with a fee, however.
And when choosing a realtor, make sure to check out their credentials. All real estate agents should be licensed in the state they operate in. A good place to start is professional organisations such as the National Association of Realtors (NAR).
You can also start the search online yourself, using one of these US property websites and portals:
What to check before you buy
Here’s a quick list of important things to check before you buy property in the US:
- Local state laws on zoning and property ownership - to make sure you’re legally allowed to buy property there as a foreigner/non-resident, and that you can build/renovate (if applicable)
- Verify the legal and registry status of the property before entering into any legal agreement - to make sure it can legally be sold
- Visa requirements - to make sure you’ll actually be able to live in the property full-time if you intend to.
It’s also a good idea to have a building survey carried out. While not mandatory, this could help to flag up any structural or other issues which could be expensive to fix.
How to buy property in the US as a foreigner - a step-by-step guide
Now, let’s run through the steps involved in buying property in the US as a foreigner:
1. Get your finances in order
The first crucial step is to arrange your finances. You need to set your budget for the purchase, making sure to factor in all fees, taxes and other costs (more on this later). This is also a good time to pin down exactly what you’re looking for and where.
You might also need to apply for pre-approval for a US home loan.
Alternatively, you can make arrangements to finance your purchase in other ways - such as getting a loan from a UK bank, refinancing a property you already own elsewhere to release cash, or using savings.
2. Apply for an ITIN
If you don’t already have one, you’ll need to apply to the Internal Revenue Service (IRS) for an Individual Taxpayer Identification Number (ITIN). This is a tax number for non-US citizens who don’t have a Social Security Number (SSN).
It isn’t absolutely essential for property purchases, but it is a key requirement for applying for US mortgages or opening a US bank account. Both of these may be crucial for your purchase.
3. Find a property and arrange viewings
With some of the admin out the way, you can now start searching for a property to buy.
You can use online property portals, or tap into the expertise of local realtors to find properties that match your criteria and arrange viewings. An expert can also guide you through the steps involved in the purchase process, which can vary between states.
4. Make an offer
Once you’ve found your dream home, you’ll need to make a competitive offer or bid in writing. You’ll submit it either to the real estate agent or directly to the seller. At this stage, negotiations on price may take place.
5. Hire a solicitor to carry out due diligence checks
If your offer is accepted, the next step is to appoint a real estate attorney to carry out some checks on the property.
This includes doing a title search to check the legal ownership of the property, along with whether there are any disputes, claims or other issues which could impact the sale. Your attorney can also check zoning and land use compliance.
6. Get a building survey
You’ll also want to arrange for a property inspection, to check for structural damage or any other issues with the building. In some areas and for some properties, you might also need to have specialist surveys done for things like termites or flood risk.
7. Sign the purchase agreement and pay the deposit
This is the formal and legally binding contract signed by both parties which outlines the terms and conditions of the sale.
You’ll also pay what is known as an ‘earnest money deposit’ as a sign of good faith and commitment to the purchase. This is usually only around 1-3%.⁵
If you’re still in the UK, you’ll need to find a cost-effective way to make an international transfer to cover this - read some tips on how to do this here.
8. Finalise your mortgage
This is the time to contact your mortgage provider to finalise the loan. The provider may need to carry out an appraisal of the property.
9. Complete closing/settlement
This is when the purchase is finalised. Your real estate attorney will be crucial to helping with this, as there’s plenty of paperwork and legal steps to be completed. This includes:
- Setting a closing date
- Signing the title deed
- Signing your home loan documents
- Recording the title deed with the local county recorder’s office, to legally transfer ownership of the property
- Setting up a transfer for the remaining balance, including fees and taxes.
Consider using the Wise account here to convert your pounds to US dollars, avoiding hidden fees and getting the mid-market exchange rate.
How long does it take to buy a property?
Buying property in the US tends to take around 4 to 5 months,⁶ although it can vary depending on your circumstances.
| 📚 Read more: How to transfer money from the UK to buy property overseas |
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Fees and costs of buying property in the US
There are quite a lot of closing costs involved in US property transactions, and the buyer has to cover most of them.
Here are some of the main fees and taxes for buying property in the US, which you’ll need to factor into your budget:⁷
| Fee/tax | Amount |
|---|---|
| Property transfer tax | 0% to 4% depending on state (some states split between buyer and seller)⁸ |
| Legal/attorney fees | $500 to $1,500 USD for closing attorney (split between buyer and seller) + additional fees if you’re using your own private real estate attorney |
| Escrow fees | Around 1% |
| Building survey/inspection | $250 to $700 USD |
| Homeowners association transfer fee (if applicable) | Around $200 USD |
| Mortgage costs | |
| Valuation/appraisal fee | $300 to $450 USD |
| Setup/origination fees | 1% of the loan amount |
| Bank processing fee | $25 to $100 USD |
| Notary fees | Around $100 USD |
Taxes and fees for owning property
Once you’ve bought your US property and paid all those initial costs, you’ll also have some ongoing fees and taxes to cover as a property owner.
This includes an annual property tax of between 0.3% and 2.5% of the property’s value. The exact amount varies by state and county.⁷
If you rent out the property, you may also pay personal income tax as a landlord - this can include both federal and state-level taxes.
Loans and mortgages for non-residents
US banks and providers do offer mortgage loans to foreigners, but the conditions, requirements and rates may differ compared to how it works for locals.
For example, you might have to pay a larger down payment as a non-resident, or have to pay higher interest rates or submit more extensive documentation as part of your application.
The requirements for application will vary between banks, but generally you’ll need the following:
- Valid photo ID
- ITIN or SSN
- Proof of income
- Recent bank statements
- A credit report from the UK (if asked)
- Proof of funds for the down payment and associated costs.
Risks and pitfalls of buying property in the US
One of the main things to watch out for when buying property abroad are scams.
The US is generally considered to be a safe place to buy and sell property, as long as you take sensible precautions to protect yourself from scams and fraudsters.
But there are some pitfalls and risks to look out for, including the following:
- Not doing your due diligence. Before committing to a purchase, it’s crucial to carefully check the title deed and local registry for the property, as well as arranging a detailed property inspection. This can flag up any potential issues, whether it’s legal disputes, property defects or anything else which could negatively impact your purchase or ownership of the property.
- Failing to factor fees and costs into your overall budget. There are quite a few fees and taxes involved in buying property in the US, and they can vary considerably between states. You need to get to grips with them early on so there are no expensive surprises later. You’ll also need to find out exactly who pays each fee, whether it’s the buyer, seller or both - as this too can vary between states.
- Not getting mortgage pre-approval. It’s strongly recommended to apply for pre-approval from several different home loan providers before starting your search. This will tell you exactly how much they’re willing to lend, which will impact what you can afford to buy. You might think you’re a good prospect on paper, but you just don’t know until you apply. Skip this step and you could be left without the finances to afford a purchase you’ve legally committed to.
It’s strongly recommended to work with qualified and credible professionals such as real estate agents and solicitors.
Ideally, you should check for membership of a professional body - and make sure they’re not linked to the seller or estate agent.
Moving into your US property
Before you can get the keys to your new home, you’ll have a final few tasks to check off your list.
Insurance
It’s strongly recommended to take out a buildings insurance policy starting from your completion date. In fact, you might find it's a mandatory condition of your mortgage offer.
Setting up utilities
If you know when your completion date will be, it makes sense to get some essentials set up in advance of moving in.
A prime example is utilities, such as heating, power and water. Get these sorted as early as you can, and the moving process should be a little smoother.
Energy efficiency renovations
If you’ve bought an older US property, you might want to make some energy efficiency improvements to it. For example, improving the insulation, upgrading the windows or installing a more efficient heating system.
Save on currency conversion fees with Wise when buying property in the US
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With Wise, you can send large amount transfers worldwide to 140+ countries for low, transparent fees and the mid-market exchange rates with no markup.
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Key takeaways
- Foreigners can freely buy property or land in the US, but you must check specific state-level laws regarding real estate and zoning.
- You must apply for residency through separate visa pathways like employment or study, as buying a home does not grant automatic residency rights.
- You should apply for an Individual Taxpayer Identification Number (ITIN) from the IRS to facilitate opening bank accounts or securing mortgages without a Social Security Number.
- US banks offer loans to non-residents, though you may face stricter criteria, higher interest rates, and larger down payments compared to local buyers.
- You should expect the buying process to take 4 to 5 months and must budget for closing fees, which can include a 0% to 4% property transfer tax.
- You can benefit from lower property prices in the US, which are roughly 43% cheaper than in the UK, alongside potential tax deductions for mortgage interest.
Sources used:
- Global Property Guide - The United States Residential Property Market Analysis 2025
- Numbeo - Cost of Living Comparison Between United Kingdom and United States
- Numbeo - Prices by City
- Rocket Mortgage - 10 cheapest states to buy a house in 2025
- Properstar - Buying property in the United States as a Brit: 2025 guide
- Zillow - How Long Does it Take to Buy a House?
- Zillow - Closing Costs Explained: What Are Closing Costs and How Much Are They?
- Lumon Pay - Property taxes in the US: A guide for UK buyers
Sources last checked 20-Jan-2026
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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