While purchasing a new house is demanding under the best of circumstances, when you’re buying a house in a different state, this compounds your stress. Fortunately, there are a few things you can do to lower the stress associated with buying a home in another state. Here are some tips to follow when buying property in another state.
Be Realistic with Your Timeline
When buying a home in a different state, expect the process to take a little longer. You may need to take a few trips to check out potential homes, and it might take your lender more time to process your mortgage. Be patient, and don’t get discouraged if the process takes weeks or even months longer than anticipated.
Work with an Experienced Real Estate Agent
An experienced real estate agent is always helpful when buying a home, but they are imperative when buying a house in a different state. A realtor well-versed in the local housing market can assist you with identifying homes that suit your needs and aid you with understanding the pricing and demand for homes that you’re considering.
Your real estate agent is also a valuable resource for recommendations when it’s time to schedule a home inspection or move into your new home.
Look at all the Expenses Associated with a Specific Neighborhood
When deciding if a home is suitable for your budget, it’s important to look at factors other than the mortgage. Some other details to review include:
- The cost of state and local property taxes
- Insurance premiums
- Utility rates
- Expenses for trash pick-up
- Homeowner’s association dues
- Commuting expenses
All these costs must be taken into account when determining if a potential home is affordabile for your family.
Try to Get an Insider Opinion
A neighborhood that seems fantastic for a few hours when you’re touring potential homes may be a poor spot to live. When possible, seek an outsider opinion regarding the livability and overall vibe of potential communities. You want to ensure that your prospective home is right for your lifestyle, your family’s needs, and your priorities.
For example, a condo on a bustling street in the heart of the city makes for a fun afternoon outing. However, if you have children easily disturbed by noise pollution or if you simply value privacy and solitutde, this may not be the right area for your new home.
Take Advantage of Virtual Tours and Video Meetings
Even though a video tour can’t fully replace an in-person showing, it can give you a lot of information about the home’s interior and exterior surroundings. Use technology to your advantage to minimize expenses associated with traveling to visit potential options.
Want to start your home search? Contact us today. We can help you find a home that’s right for your needs!