buying property in a city

Factors to Consider When Buying Property in a City You Don’t Live In

Be it a job promotion, a career change, search for a new job, or relocation for better opportunities, moving to a completely new city can be a nerve-wracking affair. Common home buying concerns like the neighbourhood, housing prices, school districts, and availability of basic facilities are amplified when the city is new and unfamiliar. The fact that the home search and buying property have to be done remotely only adds to the stress level.

Though the mere thought of moving from one city to another might be daunting, the relocation can be a lot less stressful if you research extensively and do the math before you move.

Instead of stressing over, break the entire home buying process into manageable chunks. Here’s a list of tips to help you with your long-distance home search.

Identify the Right Neighbourhood

First of all, decide what you want.

Is it important to you to be close to shopping malls, sports facilities, restaurants, nightclubs, and bars? How about having coffee shops, grocery stores, gas stations, and drugstores in the locality? Or is it proximity to major infrastructures like metros, airports, and railway stations, commuting time, healthcare centres, or is the quality of schools your first priority?

Make a note of what you expect in the neighbourhood. Once you are done making a list, you can then refer to real estate apps and websites to narrow down your search to neighbourhoods that cater to your needs.

Make Use of the Internet to Bridge the Distance Gap

The power of technology can help you easily overcome distance. Make full use of emails, search engines, apps, websites, and video conferencing systems during negotiations. Ask the real estate agent to give you a virtual tour of properties via Skype or any other video chatting interface. That way, you can get a ‘touch and feel’ of your would-be home while being miles apart. Since great offers and discounts are usually touch-and-go, staying in constant touch with the developer or real estate agent is necessarily important.

Remember to Make an In-person Visit Before Buying Property

Don’t ever skip an in-person visit if you have an opportunity to do so. Not visiting the home site, or not meeting the developer isn’t a great idea. Apps, websites, and video conferencing are all okay, but frankly, pictures can be misleading.

Make an effort to visit the home site in person to get a true feel for the property and the neighbourhood. Moreover, buying property is a long-term investment that involves a great deal of money, so a first-hand check of necessary documents related to the property is vital. There are many websites that will give you an idea of the documents to validate. Carry a printout of the checklist when visiting the home site.

Get a Trusted Real Estate Agent

Find an experienced real estate agent in the city you are intending to buy the home. Working with a well-informed professional has many advantages, especially when you are making a property investment in an unknown city that is not your hometown. A trusted real estate professional can steer you away from bad properties and neighbourhoods towards good ones.

Nothing like it, if you find a real estate agent where you live, who has bases in multiple cities across the country. Chances are, they will not try to sell you a property without providing correct information. Preferably, deal with a real estate professional who has helped your friends and relatives move to other cities.

Finally, do an extensive research about ongoing property prices in the city and neighbourhood you are planning to relocate. Read online reviews, and double-check the credentials of the developer.

Buying property is not an easy job, especially if it’s in a city you don’t live in. If you’re faced with such a challenge, keeping these factors in mind will pave the way for a smoother transition.

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