Imagine this: you’ve been kicking butt at work lately – putting in the extra hours, going above and beyond and taking on more responsibilities – and you absolutely love it. Sounds pretty great, right? Well what happens when your employer reciprocates those feelings and loves you so much, they ask you to take on a fun and exciting new position in another office, which just happens to be on the other side of the country? Still sounds pretty great, but might also sound a bit scary too. Relocating to a new state (heck, even just a new city) can be stressful and complex. While it is really awesome that you’ve been acknowledged by your employer as someone capable of the undertaking, uprooting your life and moving to a new place can be intimidating. According to worldwideerc.org, companies (on average) are giving employees about 5 weeks (33 days) to move and report to their new job once the relocation offer is accepted – yikes! But don’t worry, with some careful planning (and deep breaths) it can be done… and it may not be as difficult as you think.
Research
One of the most important things to do before moving to a new city (or state) is to do your research. Take some time to find information on the different neighborhoods, learn about the school districts and their ratings, etc. If you know anyone in the other area, ask them about all the neighborhoods and get their opinions on what each has to offer. If you don’t know anyone in the area, don’t worry – try reading their news sites on a daily basis or see if you can find some information on local/community websites.
Another important thing to research is what the cost of living will be in your new city. Although the salary for your new position should adjust accordingly, it is still good to learn what the differences may be so there aren’t any surprises when you get there and also so you can plan appropriately.
Extra tip: Keep in mind that big purchases can affect the approval of your loan. If you are relocating and plan to purchase new furniture or a car, do your best to wait until after you close on your new home.
Make a timeline
When working on a tight deadline, it can be helpful to map out a timeline and give yourself milestones to accomplish by certain dates. For example, are there any days you can schedule a trip to go view homes in person? Pencil those in now and plan as far in advance as you can. Try to also consider how much time you might need to sell your current home, how long it may take to get a home loan in a different state, etc.
Use technology as much as possible
Technology has evolved so much in recent years, so use that to your advantage. If you are relocating to a new city, solicit whoever you can to take pictures, videos or even video chat with you so you can get different perspectives on neighborhoods and homes. Try to tour homes virtually whenever possible. I take video for my clients and it has saved so much unnecessary stress for the you, the Buyer.
If you are able to make a trip to view homes in person, one suggestion is to take notes – you may have to cram in A LOT of viewings into only a few days and having notes to go back to will help you remember what you liked and didn’t like about each house. Many of my buyers have liked my style of getting to know an area in order to buy a home in a short period of time. I will be glad to share my strategy with you.
Price your current house to sell
In addition to finding a new home, you will also need to sell your current home. I will work with you to determine current market conditions and we can price your home accordingly in order to sell it quickly. Keep in mind that potential buyers are going to be drawn to a home that is decluttered and clean – while things may be hectic, make sure that your home is still presentable and staged appropriately.
If for some reason you aren’t ready to sell your home, not a problem! I can work with you to get your current home set up to be a rental property instead. There are a few different factors that we can discuss to determine whether or not this is the right option for you – such as local market projections, how much equity you have, costs for owning a rental property, etc.
In addition to all the aforementioned steps to buying a house out of state, one of the most important things you can do is to enlist a trustworthy real estate agent who can guide you through the process and give the best tips for buying a new house when relocating. Contact me today and let’s get started on this exciting journey!
