According to aggregated data and information, the average American family moves about every five years. Some of the reasons for moving include growing families, moving closer to their parents, or searching for a simple change of scenery. However, there is a difference between moving and relocating.
A typical move stays within a closer radius to their original home, where a relocation typically finds homebuyers moving out of state, or an area unfamiliar to them. Securing a new job in a different region, choosing to live in a more suitable climate, or a change in relationship status are all justifications for deciding to relocate.
We have compiled a list of helpful tips for you to consider, if you are planning on relocating.
An often-overlooked important part of the relocation and moving process is to remember that this is not a solo adventure – that is why it is so important to build a team of professionals to help guide you on your journey.
Finding a great agent to work with is a priority, as they will not only help you search for a home, but also will help in negotiating prices and keeping your best interests at heart. Be sure to learn the different types of agents you can work with, how to find a real estate agent in the area you are relocating to that you can trust and prepare questions to ask potential real estate agent partners before partnering. Also consider joining Facebook groups in the area you’re moving to so you can ask for recommendations.
GoPrime has experienced and professional loan officers located all over the country, and we pride ourselves on providing personalized service to everyone we work with. Choosing to work with a local lender gives you the opportunity for unique insights into the neighborhood and community.
At GoPrime, we want to help ensure that your home purchase during relocation goes as smoothly and quickly as possible. There are a few steps involved in finding a new home to suit your needs, like touring homes and open houses, as well as researching the market and area you are interested in. According to Zillow, 59% of home buyers attend an open house during their shopping process, and 43% of buyers say attending the open house was very or extremely important to determining if the home was right for them.
Attending an open house is a great way to experience the layout of the house, drive around the neighborhood, scope out the bedrooms and bathrooms and begin imagining your life there. You can find open houses either through your agent, searching the multiple listing service (MLS), or just by driving around a desired area and looking for signs.
Before going to an open house, make sure that you have received a pre-approval from your lender so you have a clear idea of your budget. Look for homes that meet your necessary criteria and think about what your “must-haves” are compared to your “nice-to-haves”.
Don’t judge the home by the owner’s taste in decor, instead focus on the bones of the house when relocating – it’s easy to repaint a wall or choose furniture that fits your preferences.Open every door; this is a chance for you to see the home up close. Scope out the closets, the basement, and other storage spaces. This may also help you to see any damage the seller is trying to hide, such as cracks or water damage.
To get the most out of attending open houses when relocating, it is a good idea to research the market beforehand. This helps you to understand what the area is like and how your taxes would compare to other areas.
Look into what other comparable houses are selling for in the area you intend to relocate. If houses are selling well over list price, keep that in mind as you continue your search.
Use multiple sources when researching so you can gather unbiased information. Look at local newspapers, community websites, investment clubs and social media to be sure you’re getting the full picture.
There are two main parameters that are considered when classifying a home type: structure and style. The structure implies the type of building, like a condo, townhouse, or single-family home. The style refers to architectural features and designs, like Craftsman or contemporary. Landing your dream home when relocating can be difficult, so be sure to identify what home type fits your personal needs before starting the search.
The neighborhood of your new home really does matter, as it can play a significant role in your happiness living there after relocating, and its appreciation as an investment. Consider your lifestyle and preferences, what school district it falls into, what the property taxes are, the neighborhood and surrounding areas and any future zoning and infrastructure.
There are many factors to consider when looking to relocate. Make sure that you do your due diligence to arm yourself with all the information and education you can before starting the house hunt. When you’re ready, find your local loan officer and reach out to get moving on your road home!