Buying a new home can be stressful, and buying a new home in another state to relocate can be much more stressful. Especially if you don’t know the area you’re moving to very well. You won’t know the best neighborhoods, schools, or where to locate yourself to be close to things you want to be close to in the community, such as shopping and places to eat. There are things you can do to help make buying a new home in another state much easier and less stressful.
Timing and Funding
Lining out the timing of your move will help determine how long you have to sell your current home and the finalization of the home you purchase. This will also help you figure out the timing for the actual move and how you plan to move. It may be harder to obtain funding for a home in a different state, so you want to start early by being pre-qualified for a mortgage before looking for a home.
This way, you will have time to explain the circumstances of the move and any personal financial changes that may go along with the move. Don’t forget any large purchases like furniture or appliances because you may want to include them in the mortgage amount or plan to purchase them after closing.
Spend time researching the area where you are relocating. There is a lot of information online about different cities and the communities in and around cities. You will be able to look at schools, shopping, public transport, commuting and traffic patterns, and much more. If you are relocating to a new job, you may be able to connect with people for inside information about the area.
Real Estate Agent
Finding an experienced agent is important. You may be able to find a referral from someone in the area if you have access to co-workers, friends, or family. If not, you can use the internet and look for agents that represent listings where you want to look. If you don’t want to use the listing agent, you can ask for a referral, because it’s in their best interest with a possible referral fee. You may not want an agent that has the home’s listing because they work for the seller and you may end up paying the highest price. Look for a buyer’s agent that will represent you for the best pricing.
You may not be able to go to the state where you’re moving to view the home physically, but you can view it through a virtual tour. With the technology today, you can see photos, videos, and have the agent help you view the home with you by using cell phone virtual apps, like FaceTime or Skype.
Selling in one state and purchasing in another can be difficult to coordinate closings at the same time. Real estate agents in both areas can help walk you through the necessary paperwork, securing insurance, and gaining final approval for the new mortgage. Remember, they are the experts and have inside information to help the process.
Jodi Bakst, a Senior Residential Specialist and Broker Owner of Real Estate Experts based in Chapel Hill, NC, understands the housing needs of seniors and is trained to help them through their transition