Guide to Buying a Property in Louisville from Out of State

Maybe you got a new job in Louisville. Maybe you found the love of your life in Louisville. Or, maybe you just need to change things up a bit, again, in Louisville. To be honest, why you need to move to Louisville doesn’t really matter. What matters is buying a property in Louisville when you’re not familiar with the city. That’s where we come in!

Photo of a real estate agent reviewing the floorplans of a new construction home on a laptop
Photo: energepic

Buying a property in Louisville from out of state is certainly doable. With technology, you can do anything home-buying-related. Yes, from viewing homes to closing, you can do it online. Of course, it’s better if you can view the property in person, but sometimes that’s not possible. You can still check it out from the comfort of your current home.

So, how do we do all of that? We’ve prepared a guide to buy a property in Louisville from out of state. So, keep on reading for some advice.

Step 1: Research Your New State, City, and Neighborhood

First things first, whether you are a first-time buyer or a buyer who has done this a couple of times already before you do anything we should research your new location. Research the new state you plan on moving to, as well as the new city and as many of the best Louisville neighborhoods as possible.

You need to know where you are moving to! And the internet makes it easy. Learn about the type of homes available. Check out housing prices in different parts of the city. Browse Louisville’s amenities and even national rankings to see what you think. After all, moving to a new city is a pretty big deal.

Step 2: Assess Your Financial Situation

Another thing that is very important is your own financial standing. How much of a home you can actually afford? It should be obvious, but many people start looking before they get a solid feel in this area. They find a home they are in love with, start the process of home-buying, and get hit with an ugly truth… they can’t afford it.

Save yourself from this. Assess your finances before anything else. It would be best to talk to your financial advisor (if you have one) or at least a recommended lender in Louisville. These are the people who will tell you how much you can really afford to spend on your new home. They will also help you apply for a mortgage and share how to avoid credit mistakes when buying a property in Louisville.

Step 3: Select a Local Real Estate Expert

Okay, now that you have a better feel for the area and how much you can spend on your new home, it is time to start looking for a real estate agent. (Editor: Please note there are benefits to choosing your real estate first. Then he can help guide you through steps one and two.) Your agent will be your best friend when it comes to buying a property in Louisville from out of state. Why? Because he (or she) will be able to answer all your questions about the area and fill in the blanks to give you the full picture.

Thus, make sure to find a good one! Find an agent who is reliable, professional, and most importantly, local. Moreover, the same applies to hiring any other professionals, movers, for example. According to Helix Transfer & Storage, a team of moving experts who have moved hundreds and hundreds of people already, having the right kind of help, is the only thing that can help you survive this major life change. 

Step 4: Create a List of Must-Haves

Another important thing to know before buying a home, in the state or out of state, is that your Realtor can’t read your mind. They can’t know what you want out of a home unless you tell them. So, be prepared! And, when we say prepared, we mean knowing what you want. 

The best way to do that is to sit down, think, and create a list of must-haves. In this list, you should include everything you want out of your new home:

  • location,
  • size (square footage),
  • minimum number of bedrooms and baths,
  • amenities inside and outside of your home.

Honestly, the list is much longer. Build it as large as possible. Identify each with a “must have” or its level of importance. By giving this list to your agent, he’ll be better equipped to identify the best properties for you to choose from! 

Step 5: View Homes Virtually

Imagine that you live in Maryland, and the home you found is in Kentucky. Will you be able to go back and forth every time your agent has found a home that suits your must-have list? That’s probably not practical. Doing that would be too much time, energy, and money. Instead, view all the homes virtually.

Smart agents understand the value of photos and even video. The internet makes viewing these in listings a simple thing. But you can also ask your expert agent in Louisville to either visit the property and send you specific photos or video clips. Or even better—walk through the property with you on a video chat. What’s easy today was once impossible.

Step 6: Inspect Before Closing

One of the last things you should do before closing the deal and buying a home in Louisville is to have it inspected. But, this is something you can’t do on your own (unless you are a certified home inspector). You need someone professional to go through every nook and cranny of the home you plan on buying and tell you whether there is something wrong with it. Unless you’re in a multiple offer situation (bidding war) then having a home inspection is always important.

Knowing what expenses you will need to incur if you move forward is smart. You might need to renovate the entire home and that alone may break your budget. Or you may just need to repair a few things. Each Louisville home is unique.

After reviewing the inspection report, are you ready to move forward? Yes? Congratulations! You have found your dream home in Louisville. You can actually close the deal online as well.

Today’s title companies (closing office) will tell you how to sign the documents from your home out of state. They can guide you through the funds’ transfer process as well.

The bottom line is it’s better to see the property in person before buying it. But if that’s out of the question, feel good knowing that buying a property in Louisville without visiting is also quite possible.