What are the costs when buying in Texas?

The 4% commission for our end-to-end buying service, includes all our property search services, sales management from both The US and The UK (Dyanna is based in Houston), regular contact and price negotiation, as well as brokerage costs and all legal work undertaken.

In addition to this, there are 2 survey related costs:

1. A property inspection survey : c. $1,000 - $1,500 (depending on the size and type of property).

2. A land survey : c. $750 - $1,000.

There may also be certain banking fees, depending on money transfer arrangements.

Finally, typically in The US you will pay a one-time home warranty fee of c. $500 to cover your appliances (often with an air con unit in Texas), if included in the sale, for the first year of ownership.

Taxes - what are they, and when do I pay?

Unlike The UK, the good news is there is no stamp duty or associated sales tax to pay.

There will be an associated property tax. This is linked to the value of the property and is the equivalent of council tax in The UK.

This annual tax is generally between 2% and 2.5% of the property valuation (as calculated by the County Tax department) and so is important to consider when budgeting before you have completed your purchase. It is possible to pay in arrears but it will depend on the property.

How long does the buying process take?

From making your offer on a property, the process to completion can often be no more than 4 to 6 weeks.

This is far quicker than in The UK - the house and land surveys can be scheduled in days, as opposed to weeks, whilst ensuring any defects or problems are identified and addressed, should they arise.

Can I get a mortgage?

Yes - but as a non-US citizen it will involve a number of processes and we recommend seeking professional financial advice. In addition, we also recommend you explore this prior to commencing a detailed property search, as this may take a number of weeks to confirm.

It can often be the case that the process is more straightforward with those banks with a presence both in The UK and The US.

Cash buyers are not affected by this and funds can be transferred securely when required.

Can I rent out my property and can you help?

Absolutely. Whether renting long-term or as a holiday let, it is a great way to generate an income, if you are not living in the property full-time.

We can help manage that for you by way of a separate contract, once your sale is complete.

As in The UK, for certain sorts of property e.g. condos in housing owner areas, with shared facilities such as swimming pools or pathways, there can be some controls on property usage - we would identify those prior to purchase.

You will also need to complete a US tax return for any income you generate - we advise taking professional advice. The good news is due to the bi-lateral agreements in place, you won’t pay income tax twice, if it is due.

If my property needs refurbishment or some work, can you help?

We have a trusted construction partner here in Texas who can discuss your ideas and help with any work you may require, with a focus on Austin and, moving forwards, in Houston.

Let us know and we can get Y’all introduced. Alternatively this may be something you wish to manage, and we are happy to help where we can.

Please note, any partners we make introductions to, do not involve any commission or payment to ourselves.