Buying a home in a different state can be an exciting venture, whether you're relocating for a job, retiring to a warmer climate, or purchasing a vacation home. However, the process has some slight differences from buying a home locally. Here, we've gathered tips to help you buy a house in a different state.
Research the Area
Before you begin the process, spend plenty of time researching potential areas. Look into the cost of living, property taxes, local amenities, school districts, and more. Use online resources, but also consider visiting the area to get a firsthand feel of the neighborhoods, traffic, and lifestyle.
Get Pre-Approved for a Mortgage
Securing a mortgage pre-approval is essential, especially when buying in a different state. Contact mortgage lenders who operate in the state where you are buying to discuss loan options.
Plan for Additional Expenses
Buying a home in a different state may incur additional expenses, such as travel costs to visit properties or higher inspection fees. Budget for these extra costs upfront to avoid surprises during the closing process.
Utilize Virtual Tours
If traveling frequently to the new state isn't feasible, use technology. Take virtual home tours to feel more confident about properties you can't visit in person. Virtual tours can help you narrow your choices before you travel to see the final selections.
Schedule an Inspection
Once you've chosen a home, schedule a thorough inspection. Since you are not local, hiring a reputable, certified inspector to examine the property for additional security is a good idea.
Consider a Relocation Specialist
If you're moving for work, your company might offer access to a relocation specialist who can assist with the logistics of buying a home and moving out of state. These specialists can provide resources for a smoother transition. If you don't have access to a relocation specialist, some members of the Stanley Martin team can help you with your transition. Our New Home Consultants and Neighborhood Sales Managers will guide you through the purchase process and help you navigate the transition.
Plan the Move
Coordinate the logistics of moving to a new state, which can be more complex than a local move. Consider hiring interstate movers and look into storage options if needed. Organize utilities and home insurance to start services when you move in.
Close Remotely
In many cases, you can close on a home purchase remotely. This involves signing documents electronically or having them couriered to you. Your real estate attorney can handle the details and process all paperwork correctly.
Buying a house in a different state requires careful planning and attention to detail. By researching thoroughly, working with local experts, and planning for the logistical aspects of buying and moving, you can make your out-of-state home purchase as smooth and successful as possible.