Buy property in the US from India [2025 Guide]
If you’re an Indian resident looking to buy property in the US, to live in, as a vacation property or as an investment, you’ll need to understand how buying US real estate works, and what process you need to follow. Property is often the most expensive thing we’ll ever buy - and buying internationally can be even more daunting than buying a place at home.
This guide covers all you need to familiarise yourself with buying property in the US from India. And because transferring money for a property overseas can be costly and slow, we’ll also touch on providers like Wise, which offers cheap, fast and safe international transfers which could cut your costs when you buy.
Key points: Buying property in the US as a foreigner
You can buy a property in the US as an Indian citizen with more or less the same legal rights as a US citizen
The chances of you getting a mortgage in the US are higher if you have a US Green Card, or a visa with at least 3 years to run
Buying a US property will not give you the right to reside in the US - you still need the right visa to cover your stay and your activities while you’re there
It’s good to note that The Reserve Bank of India only allows Indian citizens to make international remittances of up to USD 250,000 per financial year, which might not be enough depending on the cost of your chosen property.
Consider using a specialist to send your money to the US for your purchase, such as Wise which uses the mid-market exchange rate and offers low cost, high-value transfers with discounts of up to 0.17% on fee costs
| FAQs | Answers |
|---|---|
| Can I buy property in the US as an Indianwithout being a resident? | Yes. You can buy a property in the US as an Indian citizen with more or less the same legal rights as a US citizen. |
| Can I live in the US permanently if I buy a property? | No. Buying a US property will not give you the right to reside in the US - you still need the right visa to cover your stay and your activities while you’re there. |
| What is the cheapest way to transfer money from India to the US? | Consider using a specialist to send your money to the US such as Wise which uses the mid-market exchange rate. |
| How much tax do you pay on buying a property in the US? | US property taxes vary based on the property value and location. Get legal advice to ensure you understand the rules based on your specific purchase. |
Can Indian citizens buy property in the US?
Yes. You can buy a property in the US as an Indian citizen with more or less the same legal rights as a US citizen.
Exactly how it works will depend on whether you’re a US resident or not, and whether or not you’ve been granted permanent residency (Green Card) status. If you have a Green Card you’ll find it easier to get a local mortgage for example, but buying a US property is still possible even if you’re not a resident.
What are the requirements to buy a house in the US?
You’ll need to be able to prove your identity and that you have the funds to buy a property before you proceed with buying a home in the US.
You can usually provide your passport as a proof of address, and if you’re a US resident you can also use your SSN or ITIN. Green Card holders can provide this as proof of permanent resident status.
If you want to pay for your home in the US with a loan you’ll then need to provide documents to support your mortgage or loan application. What’s needed will vary, but can include proof of your credit score, income and savings, for example.
How to buy a home in the US from India: Step by step
Buying a home in the US shouldn’t be too complicated as long as you have the funds to pay for it and choose a good agent to work with. Here’s a step by step guide to help you piece together the process you’ll follow:
1. Set your budget and engage a real estate agent
The first thing you’ll need to do when you buy a property is set a realistic budget, based on how you intend to finance the purchase. This allows you to start shopping around for homes. While you can do a lot online, you’ll find it far easier to target neighbourhoods and property types you’re interested in if you work with an agent who has a deep understanding of your needs.
2. Find your property and negotiate a price
Once you’ve viewed properties and found a place you like, your agent can help you to negotiate a price. You’ll need to prepare an offer pack which includes proof of funds, and any specific conditions you would need to place on the transaction. There may be some negotiation back and forth, and then once all is agreed you’re ready to move forward.
3. Sign a purchase agreement and get a property inspection
Your agent will guide you through agreeing a price and getting an initial agreement in place. You’ll then need to promptly arrange a property inspection to make sure there are no issues with the building, and arrange repairs if needed.
4. Complete your purchase
Once you’re satisfied with the property and its condition you can complete the purchase, paying the outstanding amount to the seller, and taking over ownership. Any additional fees and taxes you owe are also due at this point.
As you can see, there are several large payments involved in buying a property in the US as an Indian citizen. You’ll need to pay your down payment and then the balance of the purchase price, naturally, but there will also be legal costs and tax to consider.
It’s also good to note that The Reserve Bank of India only allows Indian citizens to make international remittances of up to USD 250,000 per financial year, which may not be enough depending on the cost of your chosen property.
When you’re sending money overseas from India, using a specialist provider like Wise could mean you get a faster service - and a lower fee - compared to using your bank. Be sure to shop around before you make any international transfers, to keep down your costs as far as possible, and avoid unnecessary fees and delays.
How much does it cost to buy property in the US?
Property prices vary widely across the US, depending on the type of property, the size and location. The good news is that this means that there’s plenty of choice based on your budget. However, it does mean that you’ll need to set a realistic target price and use a good agent to help you get the best property for your money.
On top of your property costs, expect to pay closing costs of about 1% to 4% of the purchase price depending on the situation.
There are then ongoing fees which can include things like property taxes of around 3%, Homeowners Association fees and mortgage costs.
In addition to property costs, international transfer fees and costs added into the exchange rates offered can also push up the final amount you pay to buy property in the US.
Instead of sending money with your bank, take a look at non-bank alternatives like Wise, which offers cheap, fast and secure international transfers, and an automatic discount for higher transfers.
Wise: Wise uses the mid-market exchange rate and offers low cost, high-value transfers up to 100 million INR per transfer to a private individual. Transfers are typically completed within 1–2 business days.
Cheapest places to buy property in the US
The cost you pay for a US property is dictated by many factors including size and age - but the location can make a huge difference too. Recent research shows California and New York as the most expensive places to buy property - while places like Ohio, Michigan and Pennsylvania come out as more affordable options.
If you have complete freedom about where to buy you’ll be able to shop around based on location - and if you’re set on buying in a large and expensive city, choosing a place outside of the center can save a lot of money.
Best ways to transfer money to the US to buy property from India
If you’re transferring money to the US to buy property, you may find that you can save money on fees if you use a specialist international money transfer service instead of your bank. Providers like Wise can offer low costs and high transfer limits, which can make them convenient and quick solutions for transferring money to buy property in the US.
| Provider | Limits | Fees | Exchange rate | Speed |
|---|---|---|---|---|
| Wise | Varied limits, usually up to 100 million INR per transfer to a private individual | From 1.36%% | Mid-market rate | 45% of transfer arrive instantly, 90% in 24 hours* |
*Details correct at time of writing -21st February 2025
Wise review: Wise payments can be sent online or in the Wise app, and offer discounts on fees for higher value payments. You’ll be able to fund your transfer from your bank and the money could be deposited into a bank account in the US quickly and using the mid-market rate with a low, transparent fee.
Is it a good idea to buy a house as an investment in the US?
There’s no correct answer to whether or not it’s a good idea to invest in US property as an Indian citizen. There are risks and challenges associated with buying property for investment purposes in any country, so doing your research and acting on personal advice is essential.
If growing your investment is the key priority for you, make sure you cut out all unnecessary costs when buying your property in the US by using a money transfer service like Wise.
Pros and cons of buying property in the US
| Pros of buying property in the US | Cons of buying property in the US |
|---|---|
✅ Large range of property types and prices ✅ Can be better than renting if you intend to live in the US yourself ✅ Buy property as a foreigner with no particular restrictions to worry about ✅ Permanent residents can often secure loan funding in the US | ❌Owning property does not give you the right to reside in the US ❌There is a risk that your property will lose value if markets are volatile ❌You may find it harder to get a property loan as a non resident |
Financing a property purchase in the US
You could buy your US property with your own money if you have the savings already, or you can try to get a mortgage or loan in the US.
If you plan on getting a mortgage in the US, you’ll usually find more banks will support your application if you’re a Green Card holder, or if you have a long term visa with at least 3 years left to run. You’ll also usually need to have a US credit check which may be tricky if you don’t have a lot of history in the US.
Buying a property in the US with cash
If you have the savings you could buy a property in the US outright, and avoid interest and other costs associated with taking a loan. However, if you’re paying using international transfers, bear in mind that moving money from INR to USD can be extremely expensive with a bank. Consider using an alternative like Wise instead for a seamless and cheap transfer to the US.
How much down payment do you need to buy a house in the US?
Usually the down payment required to buy a home in the US ranges from 5% to 20% of the purchase price. If you are using a mortgage and putting down under 20% of the value, your lender may require you to take private mortgage insurance (PMI).
Paying property tax in the US
US property taxes can vary a lot based on the value of the property you buy and the location. Look out for information about the taxes in the state you’d like to buy in, and ask your real estate agent for advice if you’re unsure of how the property tax system works in your preferred location.
Factors affecting the house prices
The primary factor affecting US property prices is location and property type. The US property market is huge, and while it may follow patterns and trends, there are also localised factors which can determine the costs in a specific area, such as higher or lower demand and availability of a certain property type.
What’s the property market like in the US?
Property prices in the US were relatively stable overall throughout 2024, but as there are many factors affecting the property market, such as economic conditions, government policies, and foreign investment, it’s impossible to say what’s in store for 2025 and beyond.
To keep up, it’s helpful to watch market trends as they appear through online analyst statements and news reports. Ultimately, whether or not to invest in US real estate is a very personal decision, which you’ll need to research and consider carefully.
Cheapest ways to pay for a property in the US
Assuming you’ll be paying for your new property in the US from India, you’ll need to figure out the best way to move your money to avoid excessive costs. This will mean looking for a provider which offers low fees and a great exchange rate.
When sending a high amount of money overseas, the exchange rate is especially important. If the provider you use adds a markup to the rate used to convert your INR to USD, this can add up quickly for higher value transfers. Even if you’re only sending 250,000 INR for example, and the provider uses a 3% markup, this means paying an additional 3% for the transfer - a huge 7,500 INR. That’s likely to be far more than the transfer fee, but you may ever even know you’re paying it.
Not all providers use this approach. Wise uses the mid-market exchange rate and offers low cost, high-value transfers with discounts of up to 0.17% on fee costs.
Can I live in the US permanently if I buy a property?
No. You can’t just buy property in the US to get residency.
Buying a US property will not give you the right to reside in the US - you still need the right visa to cover your stay and your activities while you’re there.
Tips for foreigners to buy property in the US from India
Here are a few final tips to help your purchase go smoothly:
Get a local real estate agent to help you navigate the local property market successfully
You’re more likely to get a US loan or mortgage if you’re a permanent resident of the US
Buying a property in the US does not give you a right of residence - make sure you have the right visa or permit if you intend to stay there long term
When sending money for your purchase, check out and compare a few different money transfer services like Wise to make sure you get the best available deal
How to find a US property
You’ll want to start your search for properties using online platforms, real estate agents, and local listings. Umbrella websites usually have filter options so you can filter out any properties which you would not be interested in based on their location or cost.
Once you've narrowed down your requirements there’s no substitute for working with a great local agent who can help you view properties and attend open house events.
Should you rent or buy a house in the US?
This mainly depends on your long and short term plans. Buying a property could be tempting if you live in the US, or if you want an investment or a holiday home. However, remember that property ownership does not offer a visa or legal residence in the US.
If you don’t intend to stay in the US for long, or if you don’t have the funds right now to buy, renting is also a good option.
US property websites
The US property market is well served by large umbrella websites which offer a full range of property types and great filter and search functions. Here are some top places to start your US real estate search:
Conclusion: Can I buy property in the US as an Indian citizen?
You can buy a property in the US as an Indian citizen with more or less the same legal rights as a US citizen. However, the chances of you getting a mortgage in the US are higher if you have a US Green Card, or a visa with at least 3 years to run. If you don’t you may need to finance your purchase from your savings.
When you need to pay for your deposit, for the property purchase, or for ongoing costs, take a look at providers like Wise which can be helpful when buying property overseas, thanks to fast, cheap and secure international transfers, with good exchange rates.
FAQs on buying Property in the US
Can Indian citizens buy property in the US?
Yes. You can buy a property in the US as an Indian citizen with more or less the same legal rights as a US citizen.
How much deposit do you need to buy a property in the US?
Usually the down payment required to buy a home in the US ranges from 5% to 20% of the purchase price. If you are using a mortgage and putting down under 20% of the value, your lender may require you to take private mortgage insurance (PMI).
Is the US a good country to buy property?
Buying a property in the US is fairly straightforward but whether or not it’s right for you will depend on your personal circumstances and your intentions. Take professional advice before you invest in overseas property, to be sure you’re making the right decision for your unique situation.