Skip to main content

4 Tips For Buying A Home From A Distance

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.

3. Decide your boundaries and parameters up front

Once you find your agent, it’s important that you set your boundaries and parameters up front. How often will you fly in to view properties? If the perfect home came along, would you purchase it sight unseen? Do you want a virtual tour of every home your real estate agent is considering or just the ones they feel are perfect?
By setting proper expectations up front, you’ll avoid any miscommunications or misunderstandings during the purchase process, which could otherwise be exacerbated by the distance between you and your agent.

4. Leverage technology

Thanks to technology, there’s never been a better time to search for properties from afar. And if you want to have the easiest, fastest, and most positive experience with distance homebuying, you need to leverage the technology available to aid your home search.
When exploring neighborhoods, use sites like WalkScore and BikeScore to get an idea of how easy to navigate your new neighborhood is. Use real estate sites like Zillow and Redfin to explore everything from selling history to school systems and ratings to estimated taxes for properties you’re considering purchasing. Have your real estate agent use video conferencing technology like FaceTime or Skype during property walk-throughs so you can get a sense of the layout and flow of properties. And when you’re finally ready to buy, have your real estate agent use a file management program like DocuSign to get all the necessary documents signed and delivered (without you ever having to leave your computer desk).
Trying to find and buy a home in a city you don’t live in can be a challenge. But when you do your research, know what you want, find the right agent, and make technology work in your favor, finding your dream home in a far away zip code won’t be as difficult as you might think.
Ali Palacios, ABR, MCNE, TAHS
Realtor
Today's Home Realty
ali.palacios@todayshomerealty.com
Mobile - 832-418-0670
www.ilovehappyclients.com

9119 Hwy 6 S #230-116, Missouri City, TX 77459
Source: http://www.bestrealestateblog.com/4-tips-buying-home-distance?m=JnojPGPgYwNqRUqKIeuc

Comments

Post a Comment

Popular posts from this blog

‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home

‘Tis the Season: 5 Reasons Why Winter is a Great Time to Buy or Sell a Home It’s a common misconception that you shouldn’t try to buy or sell a home during the fall and winter months.  This is generally considered the “offseason” in real estate. Many sellers mistakenly believe that the cold weather will keep buyers away and that no one is looking over the holidays. Unfortunately, many real estate professionals perpetuate this myth by advising their clients to “wait until the spring” to list their home.  The truth is, homes are bought and sold year round. And while the market is typically quieter during the fall and winter, savvy buyers and sellers know how to use this slow down to their advantage. In fact, depending on your circumstances, now may be the  ideal  time for you to purchase or list a home. If you’re in the market to buy or sell, there’s no need to wait for the spring. Read on to discover the top five reasons that it can pay to ...
Post a Comment
Read more

How To Handle The Biggest Real Estate Deal Killers (Well-Intentioned Parents)

Your parents want the best for you. And buying a home is one of the major investments you will make in your lifetime. So, of course, your folks want to be by your side and offer you the benefit of their wisdom and counsel. Unfortunately, a lot of their best advice can be misguided, and can cause your good home choice to slip away. Most parents will want to see you get your home for the least amount of money and may even advise you to make a low offer. That may be what they did when they last bought a house. It will not work in a seller’s market, and may not even work in a buyer’s market. Make your offer based on the comparable neighborhood sales, the condition, and your Realtor’s advice. If you are getting a loan, remember that the price you pay is amortized over 30 years as well. Mom and Dad may advise different “deal points” than are standard in your locality. Recall that each state and area have different customs, disclosures and laws. What may be common in M&D’s area may...
Post a Comment
Read more

What Does MLK Have To Do With Real Estate?

Fill in the blank… “I have a _________…” I’m about 100% sure I can guess what word you chose. Was it “dream”? Good chance it was. We all know this line from Martin Luther King, Jr.’s famous speech. So when we hear those first three words, it sort of naturally comes to mind. But what many people aren’t aware of is how much he affected the lives of real estate agents, buyers, and sellers. It was his death that gave Congress the last push needed to pass the Fair Housing Act, back in 1968. It’s pretty involved, so I won’t get into it all here, but to put it simply… This was put in place to ban racial discrimination in housing. You can’t be refused the rental or purchase of a house, based upon your race. Seems simple enough to most people now. A given, if you will. But it didn’t happen overnight. And believe it or not, it still can and does come up. But guess who’s a big part of making sure this Act is followed… On the front lines, it is people like me. Real estate agen...
Post a Comment
Read more