Profile picture for yanni2

Investing in Stratham, Exeter, Brentwood area

My wife and I are transplants from Upstate NY and have lived in Portsmouth for almost 3 years. We love the area, but we may relocate in order to be closer to family. We could remain on the Seacoast for another 12 - 24 mos, but we've outgrown our two bedroom apartment in Portsmouth. Looking around at our options, & buying a 3br single family house in the low $300s seems like an attractive option. I believe our monthly mortgage payment would be $1,600 - $1,800 / mo (principal, interest, & tax) - which is cheaper than renting a similar home. My concern is our potential time horizon for remaining in NH. Does it make sense for us to buy in NH if we may relocate? An idea I have is to keep the NH property, and rent it out if we do relocate back to NYS. Any advice or thoughts? Have any of you heard of out of state residents who are successful NH landlords? Are any of you aware of reputable property management I could work with if I were an out of state landlord?
  • March 23 2013 - Portsmouth
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Answers (3)

Profile picture for CallTheSisters
Doesn't anyone read the Good Neighbor Policy?

No self promotion !!!!!
  • March 23 2013
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Renting from a distance can be tricky and it does depend alot on your area and the person who is taking care of the property for you. I am from the New London/Lake Sunapee area and we have many absentee - out of state owners who rent their homes very successfully. We are a college area and also a very high end vacation area so we have lots of options. You would not want to rent to students - except for 4th year or graduate students, but often times professors, vacationers and professionals are looking for good rental properties. It is important to maintain the property and keep it attractive for higher end renters.

If you every decide to come to the Lake SUn apee area [deleted by Zillow moderator. Please see our Good Neighbor Policy for posting guidelines]
  • March 23 2013
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Great question.  The Home Buying market is very active right now.  It's a great time to buy-interest rates are still low.  There are fewer homes on the market right now (inventory is low) so if you want to buy and find the right home, make an offer.  

If you would like to know how much home you can afford and also ensure you are preapproved for a Mortgage, I would suggest contacting a local Mortgage company or your Bank.  This way you know the price range to search in.

Lastly, if you do decide to relocate and choose to rent the home out you can most certainly have your home with a Property Management Company.  This way you can be a long distance landlord.  

Please feel free to give me a call if you would like to start your home search.  I'm happy to help.

Melani Taillon
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  • March 23 2013
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