The article “How to attain the American dream as a foreigner in America” aims at throwing light on the basic path to success for those planning to live in America.
As an expat, you may feel left out from the many benefits that local residents get when it comes to affording a house, starting a business and raising a family. Many foreigners struggle to buy a home or even rent an apartment in many places in America.
Finding a job is also challenging for most expats. Fortunately, there are many ways for expats to attain the American dream as an expat. Here are some tips on how you can achieve your American dream as a foreigner in America:
How to attain the American dream as a foreigner in America
Establish residency and find a job
Before you can buy a house or start a business in America, you will first need to become a resident of the United States. There are various ways to do this, including getting a work visa, investing in a business, getting a student visa, or applying for family reunification. Some paths will be easier than others, and some may not even be available if you are not from a particular country. However, you’ll want to research your options and start early to ensure you have everything in order before you move. Once you are a resident, you’ll be able to apply for various loans, find a real estate agent, and more easily start a business since you’ll now have a verifiable source of income. You’ll also be able to travel more easily between your home country and the United States.
Decide on where you want to live
Are you looking for a bustling city life or a quiet, rural setting? What kind of weather do you prefer? What kind of culture do you want to be surrounded by? These are all important questions to ask yourself as you decide where you want to live. While some expats choose to live abroad as digital nomads, others are looking to create a more permanent life in America. If you want to live in America, you’ll want to figure out which of the 50 states you want to call home.
Research the housing market in your area
If you are hoping to buy a house, you’ll want to do your research on the local housing market. You’ll want to look up average housing prices in your area, and see how much you can afford to spend on a house. The good news is that there are many online resources that give you this information. One of the most popular is Zillow, which has housing data for almost every city in the country. You can also talk to a real estate agent about average home prices in your area, or visit open houses in your neighborhood to see what houses are going for.
Get more education and training
If you are hoping to find a job in a particular field, you may want to get some more education or training. This could help you get a higher-paying job, which might make saving for a down payment or qualifying for a mortgage loan easier. You can look up which accredited schools offer the type of education or training you want to pursue. You can also look up online courses that you can complete from home. Be sure to do your research to make sure the school is accredited and that the credits transfer to the degree you want. Many universities also have online degree programs, which could make completing your courses easier. You can also look up online courses from other accredited schools, which is a great option if you travel often or don’t have a lot of time to go to a physical campus.
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Apply for an EB-5 visa
If you have the financial means, you could apply for an EB-5 visa and invest in a business or a real estate property in America. This will allow you to not only get a green card, but also be able to bring your immediate family members to the U.S. You will need to choose an investment option that involves either creating a job or investing in a rural area with high unemployment rates. You’ll need to find an eligible project that has been approved by the government, then find an accredited broker or agent to help you apply. Since the amount you need to invest can vary significantly, this is a great option for expats of all financial situations.
Invest and save for a down payment
If you can’t find a job, or it just isn’t feasible to get more education and training, you can try to save as much money as possible to make a down payment on a house. You can save money by cutting expenses or living with fewer luxuries. You can also look into getting a second job, or asking for a raise at the job you currently have. You can also look into getting a side hustle, such as freelance work, to bring in more cash. You can also try to get an investment loan, where you borrow money now with the promise of paying it back with interest later.
The American dream is a cherished goal for countless people around the world. While it can be challenging for expats to attain the American dream, it is certainly not impossible.
By establishing residency and finding a job, deciding on where you want to live, researching the housing market in your area, getting more education and training, and applying for an EB-5 visa, you can make the path to the American dream a little easier.
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