When your local area falls on hard times economically, your job demands a move, or you need to relocate for family reasons, there are a variety of options available to you for buying or investing in property outside of your home state and relocating. Your real estate agent can help you with the ins and outs of the process to ensure a smooth transition during what is typically a very stressful period. |
Buying Out-of-State: Where to move?
If you are considering moving to another state, you may not have any knowledge of some of the fundamental aspects of a town or city that could end up making or breaking your decision to live there. You should ask your realtor for help, and do some research of your own regarding local school quality, tax rates (state and local), and public transportation.
You'll also want to look into what public services are provided, and if you and your family members have any serious hobbies, ensure the facilities exist in town or nearby to accommodate them. For example, if your daughter is a future prima ballerina, make sure there is dance schools close enough to your target neighborhood for her to continue the activity.
Choosing a Buyer Agent
Some real estate agents specialize in dealing with out-of-state sales and relocation, so you may be able to find someone highly experienced in your area of need. Your agent will be able to provide you with information about the local area and property prices within your range, and give you weekly lists or updates on properties available.
Financial Relocation Advice
As with any home purchase, it is good practice to clearly identify your budget for the purchase of your new house as well as your monthly budget for things like food and utilities. Keep in mind that it can cost more to live in metro areas and coastal towns than it would to live somewhere less populated or inland, so your cost of living could go up or down depending on these factors.
You might want to consider joining a forum online geared toward residents of the town you're thinking of moving to, where you can ask for advice and get estimates on monthly household costs for that area. There are also plenty of cost of living statistics available online for various cities.
Managing the Move
There are plenty of full-service movers out there who offer interstate options and will even provide you with the packing materials. Ask your realtor for a recommendation and check your local directories for some leads.
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