Find Your Dream Winter Vacation Home with These Tips
The recent plunge in temperatures throughout Minnesota has many people already dreading frigid winter days
and dreaming of warmer climes. If you’re one of them, you may be thinking about purchasing a home in a warmer region to spend your winters in.
The process of purchasing a faraway home is a bit different than buying one nearby. Prospective snowbirds need to do their research before flying straight into a purchase agreement.
Initial Questions for Snowbirds
Before starting your snowbird search, think through the following questions to discover if you can afford to winter down south and if you’re searching in the best region and community for you.
1. Are you able to carry the expenses of two households if you choose to maintain your Minnesota home? Or, are you hoping to downsize your Minnesota home or move south permanently?
2. Are there rental markets for your Minnesota home and new home that could offset costs when you’re not there?
3. Are you familiar with the region you’re considering moving to? Are there specific communities you’d like to move into?
4. Are the taxes in your new state higher or lower than what you’re used to paying?
Snowbird Home Shopping Tips
Because you’ll likely be searching for homes from hundreds of miles away, it’s important to have a good plan for home shopping. Create a timeline that outlines how much time you’ll need to prepare your Minnesota home for sale or renting and contact a Realtor® to set a competitive asking price.
Get prequalified for a loan for your new home if you plan on financing your purchase. Start to check out the housing inventory in the areas you’re interested in, and once you narrow down on a city or community, start to interview Realtors®. Your agent in Minnesota may be able to make a recommendation for you, too.
As you narrow your options, it may make sense to plan a trip to meet with your Realtor® and tour homes. It would be a great time to learn as much as you can about the area and with the specifics of the area’s real estate and tax laws.
Once you’ve found a home and had your offer accepted, hire an inspector to thoroughly look over the property. You’ll need to be present at the closing to sign papers and get the keys to your new place.
If you’re a snowbird ready to migrate to warmer weather this winter, contact Trent Shipley at Keller Williams Realty Integrity NW for a free market analysis of your Minnesota home.