4 Tips For Buying A Home From A Distance
Blog:4 Tips For Buying A Home From A Distance
Posted on
From: Best Real Estate Blog
Chances are, if you’re looking for a new home, you’re ready for a change of scenery. And while that might mean just a new property or a new neighborhood, for many potential homebuyers, that often means a new city. And if you’re considering buying property in a city other than the one where you currently reside, you probably have a lot of questions about the process. Will you have to fly to your new city every weekend to look at properties? Will you miss out on hot properties? Is it even possible to buy without physically being in your city?
Buying a home from a distance certainly presents its own set of unique challenges, but by no means is it impossible. Here are four tips for buying a home from a distance to make the process easier, faster, and less stressful for you and your family:
1. Gather information
When you’re buying property in an unfamiliar city, the first thing you need to do is educate yourself. Gathering information on the city, the neighborhoods, the cost of living, and general property information is essential to help you make an informed decision. Without it, you’ll likely waste time and energy exploring homes that ultimately aren’t the right fit for you.
For example, you might see a home that matches all of your criteria and think “Great! We should look at this home!” But once you do your research, you might learn that while the home is great, it’s in an undesirable area, doesn’t have the walkability you’re looking for, or has a subpar school system that wouldn’t be the right fit for your children.
Thoroughly researching your new city and the different areas within it will help you save time by only viewing properties that fall within the neighborhoods you want to live in. Do research on the internet and, if possible, connect with residents of the city (friends of friends are always a great resource) to get their take on where to live and where to avoid.
2. Choose the right real estate agent
The key to successfully buying a new home from a distance is choosing the right real estate agent. You want to work with someone who’s an expert in your new market and who you trust to check out properties on your behalf when you’re not around.
Since you’re not in town to pop by and view properties, you only want to spend time on properties that check all of your boxes and that could be a serious contender for purchase. Ideally, your real estate agent will act as your eyes and ears, going to see properties, eliminating ones that aren’t the right fit for you, and only bringing your attention to the ones they feel hit the mark.
You also need a real estate agent with a sense of urgency. Most markets move quickly, and since you’re at a distance, you need to trust that your agent is working for you and making sure you don’t miss any hot opportunities.
Read more here.