International Student Housing · Guide
Buying a home for your student
Every year, families from overseas ask me the same question: should we buy a place in Ann Arbor for our student instead of paying rent for four years? Sometimes the answer is yes. Here's how to think about it, and I'll be straight with you when the answer is no.
How buying works, step by step
The mechanics are the same as any US home purchase: get pre-approved (or confirm cash funds), search, offer, inspect, appraise, close, typically 30 to 45 days from accepted offer to keys. As a foreign buyer you can purchase US property; the process just has a few extra layers (see below). I coordinate the entire search remotely, with video walkthroughs, honest condition reports, and one well-planned in-person visit if you can make it.
The money questions to ask first
- Financing: what can foreign buyers get? Terms differ from domestic loans, and larger down payments are common. Talk to a lender experienced with foreign nationals early.
- Ownership costs beyond the price: property taxes, insurance, HOA or condo fees, maintenance, and property management if you won't be local. Run the full annual number, not just the mortgage.
- Taxes: buying, owning, and eventually selling US property as a non-resident has tax implications in both countries. I'm not your tax advisor. Engage qualified tax professionals on both sides before you commit.
Ownership and resale
Think about the exit before the entrance. Ann Arbor's market is supported by the university, which means steady demand and helps resale, but no purchase is risk-free. Consider: how long will your student be here? What happens to the property between tenants or after graduation: sell, rent it out, or keep it as an investment? A property manager matters enormously if you're managing from abroad, and I can share the questions to ask when choosing one.
When buying doesn't make sense
I'll say this plainly because my job is honest guidance, not transactions: if your student is here for one year, if the numbers only work with optimistic rent assumptions, or if being a long-distance landlord sounds miserable, renting is the better answer. I've talked families out of purchases. I'd rather have your trust than your commission.
Educational information only, not tax, legal, immigration, or financial advice. Not affiliated with the University of Michigan or Eastern Michigan University.
If you're weighing this decision, let's talk through your specific situation. I'll give you my honest read.
Common questions
Should parents buy a home in Ann Arbor for their international student?
Sometimes. It can make sense for multi-year stays in a university-anchored market. Run the full annual ownership costs (taxes, insurance, HOA, maintenance, management), consider the exit plan, and consult qualified tax professionals in both countries before deciding. An honest agent will tell you when renting is the better answer.
Can foreign nationals buy property in the US?
Yes. The purchase process is the same as for domestic buyers, with additional considerations around financing (larger down payments are common for foreign buyers) and taxation. Work with a lender experienced with foreign nationals and tax advisors on both sides.