A question was posted recently on Trulia Voices regarding buying a home in Blacksburg while on an F-1 Visa ….
We have a lot of home buyers in the New River Valley who come to the area on a work or student visa, so this is something we deal with a lot. Whether it’s a student in Blacksburg on an assistantship, or a family in Radford, with a bit more work there are still opportunities to buy a home in the New River Valley.
It’s important to note, however, that in order to take advantage of the First-Time Buyer Credit, you must be either a citizen or resident alien of the U.S. Be very sure you’ve reviewed all of the options regarding the credit with a tax attorney (of which I am NOT one) before entering into a Contract to Purchase.
In my experience, the thing that is most important to consider is what certainty is there that the reason for the visa – work, school, etc. – will continue. If you are definitely going to be in the same location for 4 or more years, buying a home in the New River Valley might make sense. There are certainly loan options available to individuals on visas, but the opportunity is not for everyone. If you’d like to discuss more, feel free to contact me.
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