Buying a new home is an exciting adventure, especially for first-time homebuyers. But the real estate selling and buying process can be stressful at times. And if you’re doing it out of state, there’s even more pressure and unknowns.
Don’t worry! With a few little tricks, you can successfully sell your old home and buy a new one out of state without buyer’s remorse.
Below you’ll find secrets to selling and buying property in another state.
Options For Selling Your Home
Whether you’re relocating for a new job, to be closer to family, or to start a new adventure, you’ll need to sell your old house. In an ideal situation, you would be able to sell your home the day you move, but that’s not likely to happen since many factors come into play when selling and buying homes.
The good news is that it’s currently a seller’s market, meaning there are few houses on the market so buyers compete to buy homes. In April 2021, the average sales price of a home was $435,400, according to the United States Census Bureau.
Sell After You Move
If you sell after you move, you’ll want to make sure you have the finances available to pay for two mortgages. You’ll also want to have a dedicated and responsive real estate team you can trust to help you with showings and negotiations while you’re out of state. The agent should have experience selling properties quickly so you don’t have to worry about your old home being on the market for a long time.
Additionally, working with a stager can get your house prepared for sale when you can’t be there to do it yourself. Most importantly, selling a home out of state requires ensuring your team has everything they need (such as paperwork, documents, and the best way to reach you) so they can do their jobs well.
Sell Before You Move
With this option, you’ll need to have a temporary place to stay while you buy a home in another state. You can try to sell your home quickly by working with a stellar real estate agent, selling your house as-is, or pricing the home competitively. Remember, patience is key when selling a home. The right buyer will come along.
How To Buy A Home Out Of State
Getting ready to move across state lines means lining up the perfect home to live in. By taking the right steps, you can simplify the real estate buying process and reduce your stress.
Research, Research, Research
Because you’ll be buying a home out of state, it’s more important than ever to do your research. Comb through the Internet, looking at the listings currently available. Even if you don’t buy one of those homes, you’ll have an idea early on about the type of home that will fit into your budget.
Research the area by looking at the city’s website. Read the local news to see the latest events and happenings in the area you’ll be living in. Get familiar with the area by using Google Maps. Where will your kids’ schools be? What restaurants, hospitals, and grocery stores are around, and what are their ratings?
Start researching the potential areas where you might live as soon as possible. The majority of buyers take an average of 10 weeks to search for a home. The more knowledgeable you are about the city, the more likely you’ll choose a place you’ll be happy with.
Choose A Real Estate Agent
When you’re relocating out of state, your real estate agent is everything. They’ll be visiting the properties and making negotiations on prices. You want to make sure you trust them to find a property that matches your preferences exactly.
To find an agent, ask people you know in the area you’re relocating to if they have any recommendations. Alternatively, you can look at a real estate site for agents with experience and good reviews. Look for CRP and CRS certifications.
Work With A Relocation Expert
A relocation specialist can help you with everything from finding the right agent to connecting you with movers. They can also help you find a title company, a home inspection company, and professionals involved in the local school system.
Take A Trip
With technology advancing as far as it is, virtual tours are becoming a big thing in real estate. However, nothing will beat physically walking through the home yourself. If you’re able to, plan a trip out to your new city before the sale is finalized.
Plan a road trip with your family. Book a flight for a quick one-day trip anywhere in the US. If you’re only able to make it to the area once before moving, prioritize the inspection over the closing. The inspector can teach you about critical areas of the home that will not affect the sale but need to be fixed regardless.
Begin a New Chapter
Selling and buying a home in another state may seem daunting, but the process can be seamless with the proper steps and an excellent team. In no time, you’ll be moving to your new home and starting the next chapter of your life.