Buying a house remotely or in person is a big moment in anyone’s life. However, the truth is that it is a decision a lot of people make when they are not ready.
Buying a property is more difficult than it ever has been thanks to the condition of the housing market and the difficulties with securing a mortgage. That is why you still need a realtor even if you are buying a house remotely.
Moreover, there seems to be social pressure to purchase a property by a certain age. There is no right or wrong. It is all about buying when it feels right for you.
If you want to be a travel blogger purchasing a home remotely may not be for you until you settle down.
Table of Contents
You Need to be Able to Afford Buying a House Remotely
There is only one place to start on this house hunting quest, and this is with working out all of the finances that are associated with purchasing a property. You need to make sure that you can afford to purchase the property first and foremost.
This means that you have enough money for the deposit, as well as being able to secure a loan. If you can’t right now, it is worth looking into term deposit rates so that you can put money away and build up your savings. /p>
Aside from this, there are legal costs and removal fees, as well as lots of other one-off costs to factor in.
Once you have figured out whether you can afford to buy a home, you then need to make sure you can afford to live there. Calculate how much you will need to pay in terms of bills to ensure that it is feasible.
You are Ready to Give up Your Freedom
Buying a house remotely such as those in Pearl District does not mean you can never go on holiday to see your friends again.
However, it does mean that your house needs to be your number one priority. Are you ready for this? And, are you ready to pay for a new boiler instead of going on a beach holiday with your friends?
If you own your own business can you afford to still invest in your business and your home? If you run your business from home there may be other considerations to take into account.
Can you have customers visit your home business? What are the zoning laws in the area? Therefore, be sure to find out before you make that purchase on a house.
You Need to be Ready to Put Down Roots Buying a Home Remotely
Finally, you need to be ready to put down roots in the area in question. This means that you can see yourself living there for many years to come. It also means that the house is going to cater to your needs in terms of the size of it too.
If you are planning to have a baby in the next couple of years, you need a house that will cater to this change.
Hopefully, you now have a better idea as to whether you are ready to purchase a property or not. If you are feeling unsure, give yourself some extra time.
There is no rush, and there certainly aren’t going to be long-lasting shortages of houses for sale in your area either.
Why You Still Need a Realtor Purchasing a Home Remotely
Even if you purchase that dream house remotely you do need an experienced real estate agent. A realtor that helps you find a home in this tight market with higher prices.
Even though you can search online for a home, many local realtors have the listings ready before they go live or post on social media.
Moreover, a realtor can help you navigate the legalities of inspections, negotiations, and closings.
There are so many things that can go wrong with your selling or finding a home today that a realtor is essential even if you are purchasing a house remotely. Take it from me, I’m in the process of buying and selling a home and it’s not easy today.
Even though I can use docu-sign to sign documents from afar, situations came up where I needed the advice of my trusted realtor.
Thank goodness for my realtor who has helped along the way the whole time!
Your Dream Home and Buying a House Remotely
You will be able to find your dream house no matter whether you start hunting this year, next year, or in ten year’s time. You can do a lot of research online to see what’s available.
However, be prepared to be flexible and patient to find the home of your dreams.
Have you bought or sold a home remotely recently? Are you ready to settle? I’d love to know more in the comments below.
She has 30+ years of experience in marketing/advertising with 12 years of experience in content marketing, social media, blogging, and SEO.
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Hello Lisa,
Great and very helpful article. I have also recently Booked a Flat in Another state in India remotely. Thanks to our realtors that make the process very easy for us. Hope will relocate soon within july 2021.
Regards,
Vishwajeet Kumar
Hi Vishwajeet, that is very cool. Is a flat like an apartment or condo? We don’t have the “term” here in the US that I know of. That’s cool that you did the same. I’m in the process of finishing my move within a week. Thanks for your feedback on this one and have a great rest of the day!
Hello Lisa,
It’s an Apartment with all amenities. The area is very peaceful and full of greenery. Glad to know that you are moving in a week. Good Luck and have a great day.
Regards,
Vishwajeet Kumar
Hi Vishwajeet, that sounds wonderful. Best wishes on your new place! Thank you as well.
Super point on needing a realtor Lisa. We did not go the remote route to sell the house about a year ago but whatever you do – buy or sell – a realtor, their experience and their network is beyond important. Never get cheap when the profits or investment begins well into the 6 figure range.
Hi Ryan, thank you. Were you able to sign paperwork via docu-sign and such? We had an offer from someone who viewed the house over video. I can’t imagine! And we don’t have to be here for the closing with the docu-sign and such. It really is amazing. But through it all, you do really need a professional realtor to guide you! So thankful I have one. Thanks for your input and make it a great day down there in paradise Ryan.