Welcome to the ListingUT.com Blog

2016-09-16 15:59:18
Everything you need to Know about Relocating (Part

In part 1 of our relocation guide we talked about preparing for the big move and how important it is to get clear on exactly what you want in not only a new home, but in a neighborhood as well.

Now it’s time to consider the financial implications involved in relocating to a new area.

 

Let’s go surfin’

Hopefully, you are starting this process well in advance of the actual move and we are assuming that you’re a savvy homebuyer and have seen a lender and know, down to the penny, how much you can spend on a house.

Knowing how much you can spend and how much those payments will eat into your budget are two entirely different animals. Don’t base your budget in the new area on your current budget, even though you might know what your new salary will be.

Why? Just as real estate is always local, so is cost of living. How much are groceries in the new town? A gallon of milk in Hawaii will set you back $5 to $9 while the U.S. average per gallon is $3.45.

Utility bills vary widely among regions. For instance, that average $160 a month electricity bill in Birmingham will dwarf the $87 a month that you grew accustomed to paying in Chicago.

Check out one of the online cost-of-living comparison calculators, such as this one at CNN Money or one with more detailed results at Bankrate.com. If the cost of living is higher in the new city, you may want to shop for a home priced under the maximum loan amount promised by your lender.

Now you have a general idea of your price range for a home. You could call a real estate agent at this point (talk to me before doing that because the chances are good I can refer you to an amazing agent anywhere in the country), or you can do a little more research.

For instance, if you already have a job, and it’s important to you to live within a certain distance from work, bring up a Google map of the area and start narrowing down neighborhood choices accordingly.

Sure, you don’t know anything about these areas, but lots of other folks do and many of them hang out in the forums at City-Data.

Once you’ve narrowed it down to several acceptable neighborhoods, check the schools in the area at SchoolDigger.com and GreatSchools.org.

In part 3, we’ll take a look at what you must consider before hiring movers to help get your belongings from here to there.

 
Blog Archive
2016-09-16 16:23:17
The Home-Buying Wish List

2016-09-16 16:22:40
3 Common Home Buying Myths

2016-09-16 16:21:15
3 Tips for Attending Open Houses

2016-09-16 16:20:51
2 Things to Consider Before Buying a Townhome

2016-09-16 16:20:36
4 Tips for Home Buyers with Boats

2016-09-16 16:20:16
2 Tips for the Luxury Home Buyer

2016-09-16 16:19:58
What is a Buyers Market?

2016-09-16 16:19:38
Writing a Strong Offer

2016-09-16 16:19:15
3 Important Aspects of the Purchase Agreement

2016-09-16 16:18:26
3 Things to Know about Buying New Construction

2016-09-16 16:18:09
2 Things to Know about Home Inspections

2016-09-16 16:17:58
What to Look for in the HOA Documents

2016-09-16 16:17:44
HOA? Beware the Rules and Regulations!

2016-09-16 16:17:16
Everything you need to Know about Home Warranties

2016-09-16 16:16:37
4 Tips to Close Quickly on a Home Purchase

2016-09-16 16:16:16
Your Moving Checklist

2016-09-16 16:15:58
Buying your First Home? Avoid these 4 Common Mist

2016-09-16 16:15:35
Tips for Buying a Fixer-Upper

2016-09-16 16:15:08
First Time Homebuyer: Steps to Success (Step 1)

2016-09-16 16:14:37
First Time Homebuyer Steps to Success (Step 2)

2016-09-16 16:14:15
First Time Homebuyer Steps to Success (Step 3)

2016-09-16 16:06:37
How much can you afford?

2016-09-16 16:06:08
The Essential Real Estate Glossary

2016-09-16 16:05:48
What is the Earnest Money Deposit

2016-09-16 16:05:10
Home Appraisal Basics

Click here to see ALL articles.


Comment on this Article

Your Name:
Your Email:
Comments:
Verify:  Please enter the numbers shown to help eliminate spam.