Can a U.S. Citizen Purchase a Home in Puerto Rico?

Can a U.S. Citizen Purchase a Home in Puerto Rico?

Any U.S. citizen can legally purchase a home in Puerto Rico, according to Extra Realty. In fact, because Puerto Rico is a U.S. commonwealth, the process of buying a home in Puerto Rico is not much different than buying one in any U.S. state.

As with purchases of homes in the 50 states, a down payment is usually required, and although it varies depending on the property and the seller, it is usually at least 5 percent of the value of the property, reports Extra Realty. Other basic steps must be followed to comply with Puerto Rican real estate law, including hiring a notary licensed by the commonwealth to certify the purchase.