Prepare for tons of online research and Zoom house tours
Remote home buying is more popular and accessible than ever.
Online scams are rampant in remote home buying, so be sure to do your homework.
If possible, attend the closing to give you peace of mind.
Zoom, zoom, zoom! That’s the communication portal and pace at which a lot of remote home buying happens. Remote buying and selling of homes makes it easier than ever to purchase your long-distance dream home.
However, buying a home across the country requires careful research and stipulations that vary from the traditional experience. Here are eight tips to help you to buy a house across the country safely and effectively.
As the adage goes, “measure twice and cut once” when tackling a home improvement project. You can apply the same idea before buying a home across the country. Research every aspect of your move before signing paperwork or listing your current home.
Social media is a great place to learn more about the experience of living in that community. Search for local groups on Facebook or pages on Instagram to see what it would be like to live there.
Some things to research before buying a house across the country include:
The best neighborhoods in your chosen area
Cost of living
Quality of living
Traffic and commute times to work
Neighborhood crime rates
Local school ratings and reviews
In-state tax laws
Tools like Zoom and 3D real estate tours may make visiting a new potential home seem obsolete, but moving across the country without experiencing the area is a risky move. Technology makes remote home buying easier, but the experience of touring a home and its surrounding neighborhood cannot be beaten. If possible, visit the area and scope some prospective homes first.
Plus, you may identify drawbacks to a potential home or area that weren’t visible through your computer screen, such as a nearby noisy highway or unsafe street conditions. These things are quite hard to determine without visiting in person.
Hiring a trusted local real estate agent is the best insurance policy you have against worry and error when buying a home elsewhere. A good real estate agent will take the time to understand your home needs and wants and regularly communicate with you during the home-buying process.
Read online reviews and ask people in the area for references for a local real estate agent that’s trustworthy and competent. If, after a few meetings, you decide you’d like to proceed elsewhere, let them know. Your relationship with your local agent is the key to making an out-of-state home purchase work.
A relocation specialist can also simplify this process. This type of professional can connect you with a trusted local agent, top-tier moving companies, and even provide information on the local school system.
Unfortunately, out-of-state home buying scams are at an all-time high. In 2020, more than $3.3 billion were lost online due to internet scams, which is a more than a billion-dollar increase from 2019, according to the Federal Trade Commission.
Common home-buying scams include:
Escrow wire fraud
Foreclosure scams
Moving company scams
Selling a home for cash scams
Research these common scams and look for warning signs that you may be involved in a scam. For example, take note of an absent buyer, a listing with old photographs, or an “investor” with no researchable credentials or references attempting to buy your home.
The easiest way to avoid real estate scams is to work exclusively with verified professionals. That’s why it’s essential that you thoroughly research and vet your home-buying and moving team and trust your gut instinct if things seem awry.
Buying a house across the country can be stressful enough without having to pack your belongings and drive the moving truck yourself. The average cross-country move costs between $4,000 and $10,000, but it can be worth it to hire a moving company with experience in long-haul moves.
Plus, a trustworthy moving company will offer moving insurance, so your valuables are protected during the drive. This peace of mind is usually worth the cost of hiring movers to tackle the job.
If you need to cut your moving costs, consider making a hybrid move. By renting a truck and packing some of the items yourself, you can hire a smaller team of movers and likely save on the total moving costs.
Home buying is an exciting time, and it can lead some home buyers to put the cart before the horse. Ensure your timeline of selling your current home fits with when you’re planning to make your cross-country move.
Tasks to consider when planning your home sale include:
Home appraisal
Home staging
Hosting open houses
Packing up your home
Make a home buying checklist of all the things you need to do and use that to set accurate, attainable relocation goals. It doesn’t hurt to look into short-term housing options in case you sell your current home before your new home is ready for you to move in.
Remote home buying—from start to finish— is doable online. But if you’re going to make the trip to your new location for one aspect of your home purchase, do so for the inspection.
The home inspection report is critical for understanding the size and scope of a home’s problems. Being on site during the inspection allows you to ask the home inspector questions and get their opinion on any issues. The trip may save you thousands of dollars if you buy a home sight unseen and realize you’ve misunderstood the report later on.
When homeowners ask for tips for buying a house long distance, they often center around the closing. The truth is, an easy home closing is possible, if not what you should expect.
Sure, there’s a lot of paperwork to sign. But signing documents is the “cut” portion of the “measure twice, cut once” analogy. If you took the time to measure correctly, it should be a formality.
That’s why it’s essential to hire the right real estate agent and real estate lawyer to make this process easy, even if you’re on the other side of the country. Lean on them if you have questions or don’t understand an aspect of your closing contract. If the company you’re working with offers a remote closing over Zoom, be sure to attend and prepare any paperwork or last-minute questions.
