Alt. tag: A house in California with a car parked in front
Buying a home is hard enough. Buying a home in California long-distance is a hundred times harder - but not impossible! In fact, many Americans go through the exact same journey each year! While we understand why one might be frightened by the process, the truth is, all it takes for it to turn into a success is a careful approach. A careful approach that includes extensive research before the purchase has been made.
Buying a home in California long-distance - How to prepare?If you are set on moving to sunny California and wonder how to purchase a home out of state - you are in the right place! In this article, we explain how to prepare for the buying process and finalize it remotely!
Determine the reason behind the movePeople relocate for a variety of reasons. Perhaps, it is the career opportunity you are about to pursue in California, or maybe you are about to move for education purposes. Then again, you could also be moving just because you are interested in trying out life in a different state. Now, you may be wondering why on Earth does it matter why you are moving. Well, it's because figuring out the exact reason behind the decision can help you narrow down your search for the right property.
It's only natural for those starting a new job to acquire a home closer to the office. The same is true for the ones seeking higher education. Although, for them, the proximity to the educational facility is of the highest significance. Lastly, if the goal is to experience life in Cali, you might be better off searching for the property that allows you to further explore the area and pursue your hobbies.
Plan aheadHow long do you plan on staying in the Golden State? Is it just a temporary thing, or do you plan on staying put for years to come? If you've got your kids moving with you and plan to stay there a while, naturally, it's the family-friendly neighborhoods close to well-rated schools you should be focusing on buying in. On the other hand, if you know you'll just be staying in Cali for a year or two and then go back to where you originally came from, it might be better if you didn't splurge too much on the house, as it ultimately won't be yours forever home.
Whether you decide to move for good or just for the time being, you'll still have the whole relocation process to take care of. Once you find the right property, that is. A long-distance relocation to California is not easy to put in motion, which is why you should rely on none other but professionals to take you there. Ideally, the movers you end up hiring should have extensive experience. They should be reliable, efficient, and ready to help with virtually all aspects of the move.
Work with a trustworthy realtorBuying a home in California long-distance is best done with a trustworthy realtor backing you up, preferably one from the Golden State itself that knows the local market all too well. Not only will a top-notch, experienced real estate agent be able to assist with the property hunting, but they'll also be able to provide you with extensive information regarding the buying process. The realtor you end up choosing should accommodate your needs, as well. That means that if it's the virtual consultations you wish to engage in, the virtual consultation it will be!
Work with a quality mortgage lenderPurchasing a house out of state is somewhat easier when you've got enough cash set aside to finance it in full. The reality is a bit different, though, and not many of us have that kind of money lying around. The majority of people can't help but rely on mortgages to finance their next properties. If you happen to be one of them, you'll have to do a bit of research to determine who might be the right mortgage lender for you. Bear in mind that some of them might refuse your request because you haven't already lived in the state. Should that prove to be the case, consult a few of them until you've found the one willing to lend to you and, thus, make buying a home in California long-distance actually possible.
House-hunt onlineTruthfully, nothing beats seeing the listings with your own eyes, but that isn't always possible. If you cannot make the trip to the Golden State and see the listings yourself, you shouldn't worry. Your realtor should provide you with the chance to explore the listings online. Have them FaceTime you from the property to show you around to get a bigger picture. Furthermore, there are various tools these days, courtesy of Covid-19, that bring virtual visits to a whole new level. Some of them are so good that they can make you feel like you were actually in the house!
Deal with the current propertyIf you've been a tenant up until now, you shouldn't have much of an issue leaving the premises and switching it for your own property. If your lease is up, that is. But even if it isn't, the contract should include the termination clause, explaining what you should do if you wish to terminate it earlier. In most cases, you'll be required to pay a termination fee, which typically equals to 2-months’ rent.
On the other side, if you own the house you are about to leave, three options are on the table for you. First, you can sell the current property and use that money to fully or partially finance the next purchase. Second, you can rent it out and use that money to cover the mortgage fee. Or, you can leave it be, and make it your secondary residence for the time being, maybe even for good.
Buying a home in California long-distance can be nerve-wracking, but then again, it doesn't have to be. By entering the process well-informed and prepared, you should be in for the win.
Meta description: You might have thought that buying a home in California long-distance was impossible, but the opposite is true. Here's how to accomplish it!