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anyone buy a house in one state while still living in a different state?
We plan on moving in June of 2016. We want to start the process in December and if something comes up, buy it before June. Is it possible? We will have no debt, just student loans that we plan of deferring. We have 780 credit scores and will be putting down more than 20%. We both have a very steady work history and my husband will have a job not long after we move. Is this even possible? Will it be difficult?
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Posted 5/15/15 11:15 PM  |
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Long Island Weddings
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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anyone buy a house in one state while still living in a different state?
i did not. I preferred to rent so i could get the lay of the land and know traffic patterns, schools, etc. We rented one year and bought our house the year after we moved.
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| Posted 5/16/15 8:37 AM |
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Blubtrflygrl
LIF Adolescent
Member since 5/15 609 total posts
Name:
allison
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Re: anyone buy a house in one state while still living in a different state?
Posted by Xelindrya
i did not. I preferred to rent so i could get the lay of the land and know traffic patterns, schools, etc. We rented one year and bought our house the year after we moved.
This is our long-term plan to move too and I'm super cautious so agree with this plan unless you 1000% already know the area, schools, etc.
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| Posted 5/16/15 8:45 AM |
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anyone buy a house in one state while still living in a different state?
We know the area. We have lived there before
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| Posted 5/16/15 8:46 AM |
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Blubtrflygrl
LIF Adolescent
Member since 5/15 609 total posts
Name:
allison
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Re: anyone buy a house in one state while still living in a different state?
As long as you aren't trying to sell here, then I think you should be okay.
Good luck!
Sounds so exciting.
Wish I could get the heck off Long Island LOL.
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| Posted 5/16/15 8:48 AM |
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shapla79
Where Does The Time Go?
Member since 11/07 4619 total posts
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Re: anyone buy a house in one state while still living in a different state?
We did it. We bought on Long Island before we moved back to NY. It wasn't a problem, but we had to show a letter from DH's future employer in NY with his salary on it to get the mortgage.
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| Posted 5/16/15 8:58 AM |
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Xelindrya
Mommy's little YouTube Star!
Member since 8/05 14470 total posts
Name:
Veronica
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Re: anyone buy a house in one state while still living in a different state?
Posted by myboysmyheart
We know the area. We have lived there before
How long ago.. because I know San Antonio.. i mean I grew up here and came home to visit often but man alive its different as a parent and just the years itself have made a huge difference.
But prehaps in reference to your question.. Jim didn't have a job here but i took a transfer we had no issue with credit when looking to rent.
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| Posted 5/19/15 6:10 PM |
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pnbplus1
Family
Member since 5/09 5751 total posts
Name:
Mommy
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Re: anyone buy a house in one state while still living in a different state?
We built a house in a new state while still living in NY. We had our NY house to sell. Even though we built our home, the purchase was ultimately contingent on the sale of our home in NY so aside from losing a small downpayment, we weren't risking much. But we built in an area of rapid growth and lots of building and relocation so it isn't uncommon here. My DH's job in our new state was secure since he was transferring with his employer. DH got the mortgage on his own since I'm a SAHM, same as we did in NY. I am/was on the deed to the house in both states. We signed a contract to build almost 1 year before we moved to our new state and home. His employer was ok with him continuing to work out of NY until our home was ready. We also put down 20%. Our new house was not cheaper than our old house, just much bigger.
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| Posted 5/20/15 11:44 AM |
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babymakes3
Almost there!
Member since 7/06 7376 total posts
Name:
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Re: anyone buy a house in one state while still living in a different state?
Posted by pnbplus1
We built a house in a new state while still living in NY. We had our NY house to sell. Even though we built our home, the purchase was ultimately contingent on the sale of our home in NY so aside from losing a small downpayment, we weren't risking much. But we built in an area of rapid growth and lots of building and relocation so it isn't uncommon here. My DH's job in our new state was secure since he was transferring with his employer. DH got the mortgage on his own since I'm a SAHM, same as we did in NY. I am/was on the deed to the house in both states. We signed a contract to build almost 1 year before we moved to our new state and home. His employer was ok with him continuing to work out of NY until our home was ready. We also put down 20%. Our new house was not cheaper than our old house, just much bigger.
We did almost the same. We sold our house on LI right before we started our build and used our equity for our down payment. We had to move to a rental for 9 months, not ideal with 3 kids but it was worth it in the end.
I think that if you both have incomes at the time of applying for your mortgage, it will be to your benefit, as opposed to waiting til you move and your DH gets a new job, etc.
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| Posted 5/20/15 3:51 PM |
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