If you are thrilled about finally landing a big promotion with your company but are less than thrilled you are being transferred into an area of the country with an expensive housing market, then these tips will help you in your upcoming house-hunting efforts.
Tip: Take a Vacation and Experience the Areas You Want to Buy a Home
If you are unfamiliar with the area where you are being transferred, then it's vital you spend some time there before you start looking for a new single-family home for your family. While it makes sense to watch the distant real market on online real estate sites so you have a good idea of what's available and the prices you should expect to pay, it is impossible to conduct a successful home search without visiting the area where you think you want to buy a house.
Not only do you need to visit the area where you plan to move, but you also need to ensure you travel during the workweek. Doing so gives you the opportunity to check out the commute traffic and other aspects of the area that you just can't get a clear view of from afar. Also, make sure you visit at night to get an idea of whether or not the area is safe after dark.
Tip: Consider Continuing to Rent and Avoid the Sales Market Altogether
Even though you want to be a homeowner, it's important to determine if you plan to stay in the area where your employer is transferring you for the long-term. When you purchase a single-family home in an expensive market you will pay a lot of money for a down payment, closing costs, and inspections. If there is even a slight chance your employer could turn around and transfer you again in just a few years, then you might want to seriously consider renting instead of buying for the time being.
If you do choose to rent when you relocate, keep your rent as low as possible and save up as much of your income as you can. This will enable you to either enter the real estate market in the more expensive area or buy a home if your employer transfers you to a cheaper area in the next couple of years.
Tip: Work with a High-Producing Real Estate Agent in the New Area
When conducting a long-distance housing search in an expensive real estate market, it's important to work with a high-producing and very experienced realtor. Their experience will prove invaluable during your search.
For more information, contact a realtor today.
Once you sign the sale contract with your listing agent, there's a good chance that things will start moving quickly. Your agent will want you to stage your home for the listing photos, open houses, and showings. If you've never experienced the staging process, you may not know exactly what to do or where to start. The information on this site will help you to not only understand what's expected of staging but also offer tips for you to maximize your efforts without investing a lot of time. I hope the information here makes your home sale process a little bit less confusing and a little easier to manage.