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We won't be ready to start looking for another 3 years or so, but I'm just curious as to how to go about it. We live in MA (renting) and are thinking about looking for a home in the Houston TX area. Neither of us know the area beyond online research. (I was born there, but only lived there until I was 2.5 years, so that doesn't count. My parents lived there for a few years, but that was 30 years ago, so that doesn't help us either).
I know we will need to visit the area, but it is expensive to travel (and difficult with 3 kids). And I'm thinking that we will have to go more than once, since I know house hunting can be a long process. Others have suggested renting first, but I'm not sure if I want to move and then move again in a year....plus I feel like paying rent would be like throwing money away. We pay very cheap rent now, so to rent a house in TX would be more money and I would rather put it toward a mortgage.
Any tips? Realtors, any experience with buyers living in another part of the country? Thank you in advance
3 years out is a long time. I wouldn't do anything yet. A year out from moving if you still feel the same make a 3 day visit to the area. You could even get a Realtor just to drive you through some of the residential areas. Then you can start planning.
I was thinking that a year before would probably be about the time to start looking. But how many trips do you think we would have to make? And how hard is it to go through the whole buying process from another state?
I was thinking that a year before would probably be about the time to start looking. But how many trips do you think we would have to make? And how hard is it to go through the whole buying process from another state?
Just to clarify, most of my clients that are relocators, start watching the market one year before, not looking. Then...they almost always make two trips out. The first one is an intense "intro boot camp to the city" type of thing we do where we look at homes, but really neighborhoods. Sometimes something works on this trip but most of the time people aren't quite ready to buy.
We pin down what neighborhoods they want and I get clarification on what their needs and tastes are. Then they do the second trip when they are ready to buy. I go in and video the houses that look promising with the pros and cons of each. When we think we have the right house, they fly out for the house buying trip.
That is typically how it works for my relocation clients. The house buying process isn't hard from another state once you have picked your house...as long as you have a good agent handling things for you. I don't know about Texas, but here we use a service called bankserve for out of state clients to sign papers and such. You don't have to fly in to sign paperwork. They come to your house where ever you are.
Thanks for the great info! It doesn't sound nearly as bad as I thought it would be That's great that you can video the houses, that makes it a lot easier. I was also wondering about real estate agent fees. Do you charge for all of that preliminary work, or do you just get paid when we buy a house? If you charge for the neighborhood tours, etc, how much is it? Sorry, I am a total newbie at this!
...That's great that you can video the houses, that makes it a lot easier. I was also wondering about real estate agent fees. Do you charge for all of that preliminary work, or do you just get paid when we buy a house? If you charge for the neighborhood tours, etc, how much is it? Sorry, I am a total newbie at this!
Not all agents will do videos for you, be sure to ask if they include that in their services.
Most agents will get paid when you purchase a home, but some may have different fee structures. Ask about fees when you interview agents.
Thanks for the great info! It doesn't sound nearly as bad as I thought it would be That's great that you can video the houses, that makes it a lot easier. I was also wondering about real estate agent fees. Do you charge for all of that preliminary work, or do you just get paid when we buy a house? If you charge for the neighborhood tours, etc, how much is it? Sorry, I am a total newbie at this!
No I don't charge, but I require a buyer agency agreement.
What is a buyer agency agreement? Sorry again, but as you can tell I am just starting out here and no pretty much NOTHING about the process.
It's a contract where you would, as buyers, agree that I am your exclusive representation for my area. What it means is that you would agree to not work with other real estate agents beside myself.
I was thinking that a year before would probably be about the time to start looking. But how many trips do you think we would have to make? And how hard is it to go through the whole buying process from another state?
We faced a similar situation- we knew years ago we would want to move fairly soon after our kids were done with HS. We live in Ohio and are heading to AZ after school is out this June. We started making trips to Phx a few years ago, just to get a feel for the various areas, drive through neighborhoods, etc.
We narrowed the areas down and then about 5 mos ago started looking at places online. We contacted a realtor and she set us up with a portal where anything that met our parameters would appear for us to look at. We made a list of about a dozen properties (out of about 80 in our portal) that we wanted to see, and arranged a visit in early December for her to take us around.
We have an offer on one now. It is a short sale so I don't know if we'll get it or not, but if we don't we have others that we will revisit.
I think it's a mix of good and bad, knowing years out that you want to move and where. On the plus side, you can be thorough and deliberate and patient and make sure you've found the right neighborhood and a house that you really love. On the other hand, it can be agonizing knowing the move is still soooo far off! We are now close enough to taste it, but we still can't enjoy the moment yet, because we're firmly entrenched in 'wait mode' on this property.
I would definitely not bother looking at actual specific properties until you're within range of moving. If you're not in position time-wise to make an offer, then it doesn't do you any good to find that 'perfect' house.
Good luck!
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That's great that you can video the houses, that makes it a lot easier. I was also wondering about real estate agent fees. Do you charge for all of that preliminary work, or do you just get paid when we buy a house? If you charge for the neighborhood tours, etc, how much is it? Sorry, I am a total newbie at this!
