Ready to buy a home in Ketchum when you live out of state?
Successfully buying a home in Ketchum, Idaho when you live in another state is doable—it happens all the time!
But because you must take care of many details from afar, it’s a bit trickier than buying a home in your current town.
Here are my tips for what you need to know about buying a home in Ketchum after living here for over ten years, and serving the community as a real estate agent since 2018.
The Process of Buying A Home or Condominium
Choosing a house in Ketchum, making an offer, and then closing, all while you’re living in another state, requires care and savvy. The following tips will help ensure that the deal goes smoothly and that you end up with a home you’re proud to own.
Find a Buyer’s Agent You Can Trust
A buyer’s agent for real estate in the Sun Valley area is legally bound to represent your interests to the best of her ability. This is important when you’re buying a home out of state because you need an agent who works for you and no one else.
The Listing Agent Doesn’t Work For You
Often, buyers make the mistake of looking at a house online and then contacting the listing agent, who is required to represent the seller’s best interest.
Do Your Research To Find a Buyer’s Agent
Do you research on Realtors in Ketchum, Sun Valley and Hailey, Idaho. Take your time to read and research Realtors online. Find a Realtor that you believe you can make a connection with.
Online Research or Ask a Friend?
Take some time to discover their website and read Google Reviews. It’s OK to call several Realtors to interview them prior to making your decision. Ask friends and family if they have had a good experience with a Ketchum, Idaho Realtor for a recommendation.
Do Your Research for Real Estate in Ketchum Idaho
Take time to learn about neighborhoods within Sun Valley, Ketchum and Hailey, ID. What are the pros and cons of these mico areas?
What will the primary purpose of your property be for?
Rental income? Primary residence? Are you seeking seclusion or do you wish to walk to town for amenities? Are you seeking a family friendly neighborhood or a resort feel?
Start the Process Early
A Seller’s market dominated real estate in Ketchum, Idaho for 2021 and will continue into 2022. Inventory is low, making it difficult for Buyers to secure their properties.
House-hunting is stressful under the best of circumstances, but shopping long distance can lead to major anxiety.
Find A Ketchum, Idaho Realtor 6-12 Months Prior to Your Purchase
Because a house is the single most expensive item most people buy, it pays to start working with an agent long before you’re due to move.
Give yourself a minimum of three months, but six to twelve months is better so you won’t feel rushed into choosing a new house.
Your Agent Will Educate You on the Ketchum, Idaho Real Estate Market
A good agent will take this time to educate you about the real estate in the Sun Valley and Ketchum, Idaho area to increase your confidence in your purchase.
Ask For a Real Time Tour of Properties You are Interested In
When you can’t go to every showing in person, ask your real estate agent to provide a virtual tour of every house in Ketchum, ID that meets your needs.
Virtual Tours Are Very Beneficial
A virtual tour is a general walk-through of a house; it allows you to see each room, the landscaping, and the home’s exterior as if you were walking through yourself.
Once you’ve narrowed down your choices, ask your agent for a virtual tour of the neighborhood and nearby amenities as well.
Make a Trip Before You Make an Offer
Before you make an offer on a house, fly out and see it in person if at all possible. Even with a good agent and a virtual tour, you still need to walk across a home’s floors, breathe in its air, and touch its woodwork to capture the vibes of the house.
You’re getting ready to invest big money, so first take a quick trip to make sure the house is what you expect.
Research Property Restrictions
Ask your agent to supply you with the phone number of the building authority in Hailey, Ketchum or Sun Valley if applicable.
Contact agencies and find out about any restrictions that the property may be subject to.
For example, the zoning board or the HOA may not allow you to put up a fence or install a swimming pool. You’ll want to know the restrictions on any real estate in Ketchum, Idaho before making an offer on a house.
Do Your Diligence With Homeowners Associations (HOA)
HOA’s in Sun Valley and Ketchum manage all condominiums and townhomes. Collect financial documents from the HOA and meeting minutes from the previous two years.
Assessments and Monthly Dues?
Take time to determine if there are any upcoming assessments or major repairs needed. What are the monthly HOA dues and have they changed recently?
Get A Home Inspection
A dedicated Realtor will meet with the home inspector and take note of items discovered during the inspection.
A well connected Realtor can set up additional bids and services with reputable contractors and vendors in Sun Valley or Ketchum, Idaho.
Work With a Local Lender
Working with a local lender can be beneficial when purchasing real estate in Ketchum, Idaho. Increased restrictions were placed on mortgages for condominiums in 2021 and a local lender can navigate these restrictions with ease.
Manage Your Purchase Electronically
Your Realtor in Ketchum, Idaho will provide you with documents to sign electronically. If you are paying with cash you can sign your closing documents electronically. Lenders will require wet signatures for their closing documents.
Ready to Learn More About Real Estate in Ketchum Idaho?
Contact me to learn more about buying your next home!
Call 208-721-4131 to learn about the current (limited) inventory, and be notified of new houses for sale.