If I buy a home in North or South Carolina today with the intent of moving there 5 years from now, what could

Asked by Dee Caruso Mahoney, Salem, MA Tue Mar 11, 2008

If I move there 5 years from now, what should I do with the house to keep it safe etc?

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5
Jonathan Osm…, Agent, Charlotte, NC
Wed Mar 12, 2008
I would definately agree with renting it out and use a quality management company to ensure that the tenant isn't trashing the place and leaving you with a pile of rubble. Just bear in mind as well as well that if you are an out of town non-owner occupant of a property in South Carolina, your property taxes will be at least double what you would pay as a owner occupent because of their new tax structure.
1 vote
Larry Story, Agent, Greensboro, NC
Wed Mar 12, 2008
Dee,
I agree with the answers earlier. I guess what we need to know is what are the circumstances that surround the transaction. Is this an investment property? Will the home be rented or is this going to be a second home for you for example a vacation home on the coast or in the mountains? The area you buy in is a good indicator as far as keeping it safe. If you are not going to at least periodically visit the home then I agree with C rent it out so that it is not vacant. To buy a home and then allow it to sit vacant for a long period of time is truthfully asking for trouble. You will have to winterize the home first and then secure it. Insurance companies will have a hard time getting someone to underwrite a policy on a vacant home also. If we had a little more information we could possibly advise you better.

Larry Story
Coldwell Banker Triad
1 vote
M, , Florida
Tue Mar 11, 2008
Dee,
Are you purchasing an investment property or is this a property that you are just purchasing to hold? If you are looking to invest or purchase property in NC or SC that can produce income while you are not using them or wouldlike to lease them back to a developer, let me know. We can help you.
I would recommend that you do not purchase any structure and leave it unoccupied. Number one the insurance companies will not go for this, and number 2 this is not not smart.
Hope we can help.
Marian Schaffer
The Schaffer Realty Group
877-866-8388
http://www.marianschafferrealty.com
marian@marianschaffer.com
1 vote
C Tann-Starr, , 11354
Tue Mar 11, 2008
Hi Dee,

I own three properties in SC and I can tell you the insurance companies do not like houses sitting empty for long periods of time. You may want to charge an affordable rent and request (stipulate in writing) the tenant maintain the property for the below market rental payments. That worked very well for my Dad and me concerning one property where it was cheeper to accept $240 a month (e.g. tenant fixed/repaired all problems himself, painted as desired, cut an acres worth of grass every four days, etc.) rather than pay an outside company to maintain the grounds and hope your place isn't vandelized. You don't have to go that low, but it may give you an idea of some of the options available to you until you are ready to move.

Regards, C.
Web Reference:  http://www.TannStarr.com
1 vote
Nicole Bouker, Agent, Kill Devil Hills, NC
Mon Mar 17, 2008
Hello Dee,
Invest in a Vacation home on the beautiful beaches of the Outer Banks of North Carolina! These Vacation homes are usually managed by a company who will maintain your property according to your agreement which can include everything from maintenance to linens. I would be glad to assist you further with your search.
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