Moving from Massachusetts to New Hampshire

How are New Hampshire taxes different from Massachusetts?

New Hampshire has no state income tax on wages and no general sales tax. Towns fund schools and local services mostly through property taxes instead, so your property tax bill is likely to be a bigger part of your housing cost than you're used to.

If you'll keep working in Massachusetts, Massachusetts generally still taxes the wages you earn there. A tax professional can tell you how it works for your situation.

To compare with your own numbers, try the MA vs NH taxes calculator.

How should I compare NH towns?

Compare towns by the monthly payment, not just the price. NH property tax rates are quoted per $1,000 of assessed valueAssessed value The value a New Hampshire town assigns to a property for tax purposes. Your property tax is based on it, not on the purchase price. See the full glossary× and are set town by town, so two homes at the same price can carry very different monthly payments. The property tax guide explains how it works, and each town page lists its current rate with a link that fills in the payment calculator.

How much is the NH transfer tax?

New Hampshire charges a real estate transfer tax of $0.75 per $100 of the sale price, and both the buyer and the seller pay it. Your Loan EstimateLoan Estimate A standard three-page form you receive within three business days of applying that shows your estimated rate, payment and costs. See the full glossary× will show your share.

That is a change from Massachusetts, where the deeds excise is $4.56 per $1,000 in most of the state and the seller customarily pays it. In New Hampshire the buyer has a share too: on a $500,000 purchase, each side's share is $3,750. The transfer tax calculator figures it for any price.

What is different about buying a home in NH?

A few things work differently once you cross the line:

• The paperwork. Massachusetts buyers usually sign a short offer to purchase first and a purchase and sale agreement later. In New Hampshire, the purchase and sale agreement usually comes with the offer, so the inspection and financing deadlines start right away. Plan your dates before you sign.
• Who runs the closing. In Massachusetts a title team handles the title work and an attorney runs the closing. In New Hampshire a title company usually handles the closing, so ask your agent which one will run yours.
• The house itself. Many southern NH homes outside the cities have a private well, a septic system and oil or propane heat. See wells and septic and heating a NH home for what to check and budget.
• After you move. The moving to NH checklist covers your license, registration and voter registration.

Which NH towns are near the Massachusetts border?

Buyers commuting into Massachusetts often look at towns close to the line, such as Nashua, Hudson, Salem, Windham and Londonderry. Towns right on the state line include Pelham, Plaistow, Atkinson, Hollis and Brookline. Each has a different mix of commute, schools, taxes and home styles, and all the towns Tom serves are on one map.

Can I buy in NH before I sell in Massachusetts?

You may be able to, depending on your income, savings and the equity in your current Massachusetts home. You could buy first, sell first, or make your offer contingent on your sale. Tom can compare what each option means for your payment and cash to closeCash to close The total you bring to closing: your down payment plus closing costs, minus any deposits, credits or gifts. See the full glossary×. How buying before you sell works.

Why work with an NH loan officer and agent?

Tom is licensed in New Hampshire and knows how local taxes, wells, septic systems and closings work here. He can also introduce you to a local agent at no cost.