Relocating for work is a common practice that many Americans have faced at some point in their lives. However, add in buying a new home, and the relocation process becomes a lot more complicated. To be honest, trying to tackle both at the same time is a complex process. For those lucky enough to have your prospective employer foot the bill, not having the extra expense can be a lifesaver. However, what happens when you are left on your own to manage all the costs associated with relocating? Additionally, what happens once you’ve arrived in your new city?
From determining the best location, sourcing a reliable realtor to planning a budget, and coordinating the move, there are several essential things to consider when relocating. To help make the process a little easier, here are 12 helpful tips you can use when buying a home and relocating to a new city.
What is your budget
Like any move, you’ll want to determine the costs associated with relocating and buying a home. First, you need to figure out how much you can afford and how much money you have to put towards the move and the home purchase. From there, you’ll want to look into packing supply costs and the cost to hire moving services in Fort Collins to your new city. Keep in mind that not all movers in Fort Collins can accommodate long-distance moves. Be prepared to research the best options and budget for additional costs associated with interstate or out-of-state moves.
When purchasing a home in a new city, think about your current savings and assess your down payment costs, monthly mortgage payments, and whether you have the funds needed for closing costs, homeowners insurance, property taxes, etc.
Consider renting to start
If you don’t have the time or budget to buy a home during your initial relocation, consider renting in the beginning. Especially if you are relocating to a city you’re not very familiar with. Starting as a renter can help you “try out” a potential neighborhood without fully committing to the area with a home purchase. However, if you’re keen to purchase a home and already know what community you would like to live in, check out the following tips to consider before buying a new home in a new city.
Research the housing market
Long gone are the days of waiting until you arrive in a new city before you begin your housing search. Thanks to technological advancements, most prospective homeowners are looking online to search for a new home. With sites like Realtor.com, all you need is the zip code of an area, and you’ll find up-to-date information on listings in that area.
Visit your new city
Searching online can only take you so far through the research process. Sometimes the best way to determine whether you’ll enjoy living in a prospective neighborhood is to take a trip to the new city for a visit. Depending on how far your relocation destination is, you may want to consider a few trips to get a sense of what it’s like to live in your new city.
Visiting your new city is also a great way to find a local realtor who can help you further narrow down your search results.
Look into local transportation
From ride-sharing programs and taxis to bus and train options, make you’ve thoroughly investigated the local transportation options in your new city. When relocating to a new town, the last thing you want is trying to figure out the transportation citation once there. Give your stress-levels and anxiety a break, and check out the local transportation scene of your prospective new neighborhood before you arrive.
Depending on where you are relocating, there may not be a local bus or train route that will take you from your house to the office. You’ll need to factor in the additional costs associated with getting to the office daily and consider those prices in your overall relocation budget.
Research local crime
Keeping you and your family safe when relocating to a new city should be a top priority. There’s no sense putting a down payment towards a new home if you haven’t looked into your prospective neighborhood’s crime rate. Several online sites such as CrimeReports, NeighborhoodScout, and Family WatchDog are designed to give you an overview of local crime in different cities across the country.
Find a realtor
Probably the most important tip on this list. When relocating anywhere and looking to buy a new home, you will want to find a reputable realtor to help with your search. They will have an in-depth understanding of the housing market in the different neighborhoods you are considering and can provide you with the best advice on areas you should steer clear from. Realtor.com is a handy site that allows you to search their database of licensed realtors.
Determine if your employer will cost any costs
When determining your overall relocation cost, it’s essential to discuss whether your employer will help cover any of your relocation costs. In many cases, employers are willing to cover some, if not all, your relocation costs. If they are ready to cover any costs associated with your relocation, ensure you save any receipts from the move from your moving company in Fort Collins to gas costs, temporary housing to takeout, and food receipts associated with relocation.
Relocating to a new city doesn’t have to be a complicated process. When trying to make it a smooth move, consider some of the tips we’ve outlined to help set you in the right direction. Considering your budget, crime rate, transportation, housing market are all ways you can help manage your relocation and reduce any unnecessary stress related to relocating and buying a home in a new city.