Home Buying in 94904>Question Details

Msmith, Home Buyer in 94904

what are the obtacles you encounter if you buy in one state but live in another?

Asked by Msmith, 94904 Mon Mar 22, 2010

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Dear Ms. Smith,
The biggest problem is finding an excellent property management company to handle your property. As with other things, no one cares the way you do. When you purchase out of state, I would expect you will have to visit at least monthly, in order to be certain everything about your property is being maintained as you want it to be.
0 votes Thank Flag Link Mon Mar 22, 2010

Like with everything else in life, most of the real obstacles are the ones you impose. If you are flexible, can travel a bit, have/make reliable relationships in the new area, you can do just fine.

As far as the financing is concerned, there is practically no difference related to where the subject property is located. And if you think I can help you in that regard and clarify any confusion, I am happy to give it my best shot.

Rob Spinosa
0 votes Thank Flag Link Mon Mar 22, 2010
First, you either have to trust someone there to do everything or go down and then go back home.
Second, you do not know the area at all.
Third, you do not know local prices
Fourth it is almost impossible to figure out who a decent realtor is
Fifth, you need a job to get a loan and that could be iffy.
Sixth, you may not know about looking at http://www.city-data.com to find out a lot of local information. (good, look)
Seventh, you may not know about weather there, hurricanes, tornadoes, earthquakes?
Eighth, pests. Do you have poisonous critters? Fire ants, red ants scorpions etc.?
Ninth, people. What kind of people live there? Some areas hate outsiders. Some do not mind.
Tenth. Taxes and government fees (verses services) you may be unaware of how some taxes are not what you are sued to. Mello-roos in california, separate school tax in places, you might end up paying a lot more and not know it if not careful.

A lot of people think that renting for awhile when moving to a new area makes sense. Along that line of thinking look at the blog below.
Does it make more financial sense to rent or buy? Put your numbers into the information below to find out.
Things I would find out before buying. It could save you a lot of trouble reading below.
0 votes Thank Flag Link Mon Mar 22, 2010
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