The exchange rate for Brits buying in the USA is the best it’s been for four months, making now an ideal time to consider a purchase in Florida and even secure a favourable £/$ rate with a currency exchange specialist.
Article written by The Overseas Guides Company
The Federal Reserve’s long-awaited decision to introduce more quantitative easing to help stimulate economic growth in the USA means the country’s economy could be flooded with a limitless amount of dollars, making the currency less attractive to investors. Hence, Sterling has gained against the greenback.
On 21st September, the mid market interbank rate was £1/$1.627. Compare this to the first week of June when it hovered around £1/$1.55. To put that in real terms, the difference between the two rates means this two-bedroom condominium in Sarasota, on Florida’s West Coast, is around £4,090 cheaper today than in June.
The property, on the market through $134,000 through agent Your Global Agents, has views of an extensive lake, trees and a golf course and comes fully furnished with all mod-cons. Its location is very desirable – in The Meadows, a country club style community that is home to three 18-hole golf course, a fitness centre, swimming pool and tennis courts. And if that isn’t enough, the site also has over 15 miles of walking and bike paths set amongst 80 lakes. The community is just minutes from shopping, dining and the area’s world famous white sand beaches.
Anyone on the verge of buying a property in the USA, who will need to transfer Sterling to a dollar account to pay for their purchase could consider securing an exchange rate while it favours Sterling. Smart Currency Exchange can do this for you, as well as offer better than bank rates for all types of transfers, so saving you money. For more information on this, visit the Currency Zone or download Smart’s free report here.
To understand the full step-by-step process to buying a property in America, collect The Overseas Guides Company’s ‘USA Property Buying Guide’
The views and comments herein are those of the author and do not necessarily reflect the views or opinions of Rightmove Overseas, Rightmove Group Ltd or Rightmove Plc