1. Research Make a list of the pros and cons of moving to the new locale along with a list of unknown issues.
2. Available inventory for sale or rent Be sure to have a realistic grip of the availability of housing for sale or for rent within your budget, and be willing to rent an apartment, if necessary to buy you some time to figure things out.
3. Information about the area If there are a ton of new subdivisions being built, here comes the traffic. Seemingly quiet towns or smaller cities now have congestion to deal with that they never planned for.
Limited roadways and endless road construction might be something that you will have to contend with. 4. SchoolsDespite what school is currently assigned to a new neighborhood, expect that to likely change and adjust accordingly. Talk to the school district to get the scoop on what is happening and what the plans are for more schools down the road. 5. What is the cost of living?What might appear seemingly less expensive in one place compared to where you are moving from might have other costs associated with living there that you didn’t anticipate. - additional heating and cooling costs that you didn’t have before? What about other associated costs with home maintenance from living in a harsher weather environment?
- If you are buying a home with a pool, the pool pump will need to kick on and run around eight hours a day, which translates into an automatically higher electric bill.
- costs associated with lawn maintenance, weed management, pest control and termites.
6. How far will your money go? If you have been considering a relocation to a new area for some time, you’ve likely watched prices skyrocket within the past six months and inventory levels drop.
Choices might be limited, and multiple offers common. Budget extra money, or be willing to compromise to get what you want.
7.Medical services Will your insurance provide access to the service providers you need in your new destination? Are there adequate providers to choose from, and are the doctors and dentists in your soon-to-be new area taking new patients? What is the proximity of getting to medical offices and hospitals?
8. Contractors and service providers Finding a good contractor or repair person can always be challenging, no matter where you live, but it becomes even more stressful when moving to an area that you don’t know that well. Buying a home with grand visions of renovating it might sound exciting, but not if you are going to have to wait at least six months to get someone to do the work.
9. Job opportunities and remote work What if regular travel will be required to the employer’s location? Does the area have other opportunities for jobs if you needed to make a career change?
10. How are state and local governments handling things? When times are good, it’s easy not to pay as much attention to how local and state governments handle day-to-day issues. In our current climate, the pandemic, election and economic challenges have highlighted the varied approaches to handling these situations.
11. Taxes, fees Make sure you get a grip on what those are before making the decision to move in or out, should you eventually leave. Some states have an exit tax, some cities or counties have a hefty transfer tax when real estate changes hands and some states impose taxes on mortgages and the sales price. Take time to understand the income tax rate as well as the property tax rate, and understand how or much or when it can go up when a property sells or values increase.
12. Are residents truly year-round, or is it a seasonal community? If an area’s population varies depending on time of year, that can also impact your ability to enjoy the area’s amenities, restaurants, country clubs, etc.
At the same time, if an area tends to empty out, there might be reduced hours for shops and services or some businesses might close altogether for a particular “season.”
13. What are the time and costs involved with moving? The downside of the moving boom is the difficulty you might find with being able to book a moving truck to your desired destination. In addition, due to the demand of going to certain locations, the costs might be much higher for some places versus others.
Relocating to a new area is always a risk, and you might never have all the answers before making the move. Transitions are never easy, and the more information you can uncover ahead of time, the better prepared you will be to handle the bumps in the road that often happen during a move.
|