Minnesota
Real Estate in Minnesota
Last updated on Feb 03, 2023
Summary: A newcomer to Minnesota should begin their search by researching the different cities and neighborhoods in the state. They should consider factors such as cost of living, job opportunities, and school districts. Once they have narrowed down their search, they can look for homes for sale in the area. Homes in Minnesota typically include amenities such as central air conditioning, a full kitchen, and a garage. Many homes also have a backyard, a deck or patio, and a finished basement. Some homes may also include a fireplace, a hot tub, or a swimming pool.
What do I need to know when buying property in Minnesota?
When we asked expats what advice they would give a foreigner before buying a property in Minnesota, they said:
"You should be aware that real estate laws in Minnesota may differ from your state, so it is a good idea to review them before signing any documents. Additionally, you should be aware that property taxes are higher in Minnesota than in most other states, so you will need to budget and plan accordingly. It is recommended that you research potential neighborhoods and get to know the local market, as well as have a complete and thorough inspection done of your potential property before you commit to buying it. Lastly, you may need to be prepared to put down a sizable down payment depending on the type of loan you take out, as many lenders require one in Minnesota," explained one person living in Minnesota.
Are foreigners allowed to own property in Minnesota?
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About the Author
Betsy Burlingame is the Founder and President of Expat Exchange and is one of the Founders of Digital Nomad Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange, Betsy worked at AT&T in International
and Mass Market Marketing. She graduated from Ohio Wesleyan University
with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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