Whatever your reason for moving into a new house, whether it’s more space or a career change, planning such a life-changing move isn’t something that comes easily.
If it’s your first time considering the possibility of moving, you might get overwhelmed by the details that you need to understand for a smoother transition process. It can be daunting, but there’s a first time for everything. If you and your family are thinking of moving into a new community, consider these tips that can help you save time and money, and spare you from unwanted stress!
Allow time to reconsider
When it comes to any serious decision, you can’t expect to make a definitive choice right away. Buying a new home and moving requires a deeper sense of introspection to determine whether it’s right for your current situation.
It won’t hurt to be discerning and critical about your plans. Consider the current economic climate. Are property prices going up? Will you be able to afford a mortgage on your new home? It’s imperative to make sure you have enough resources to reduce your current and future liabilities.
To be sure of your choice, sit down with your partner, and discuss your plan. Chances are, you will have to find good reasons for moving out and identify what is wrong with living in your current home. Give it a few weeks or a whole month to make a final decision.
Pick the right location
If you think you are making the best possible decision to move into a new home, you can now proceed to the process of buying one. This begins with choosing where you want to settle. Unless required by your place of work, finding a new home has to start with picking the right location.
If you are not planning to venture outside your current city, you can hunt for neighborhoods that offer a healthy atmosphere for your family and your bank account. On top of low criminality and shorter commutes, you also need to settle in a community where the median price does go past your current budget.
On the other hand, if you plan on crossing state lines, expect to spend a great deal just to look around. If you consider yourself a meticulous home-buyer, you might find it better to ask the locals about the best the area has to offer.
Keeping the COVID-19 pandemic in mind, it would be wise to do your research and browse data pertaining to school districts, crime rates, property appreciation rates, and other metrics you need to make a well-informed decision.
Work with a realtor
People tend to have reservations when it comes to hiring realtors. However, it’s rare for first-time homebuyers to close a deal on a new home without any professional help. It’s well worth it to absorb the cost of finding a real estate agent to help you shop for a home, put your best interests in mind at the negotiating table, and facilitate complicated due diligence processes.
One trick here is to find someone from reputable agencies and brokerages like Keller Williams, Compass, and RE/MAX. Beyond that, you also need to find someone who can easily understand your needs and work around your budget for buying a new home.
Know your budget
There is nothing easy about buying a new home in the United States, nor is it cheap to find a property that matches the attributes of your dream home. So, as your plan of moving out of your current home takes shape, it’s important to know how you are going to finance your new one.
The best advice you can get as a first-timer is to get pre-approved for a mortgage. This gives you the idea of the price range you are qualified for, allowing you to focus only on properties that are financially viable.
If you haven’t sold off your current home just yet, you can still finance the purchase of a new one by getting a bridge loan. This allows you to afford the loan on the second property using the money you get from selling the first property. Any remaining amount will be the outstanding debt of your new home.
Bridge loans are a great way to secure a property in a hot market. But if you want to speed things up a bit, you can always reach out to companies that can help you sell your first home without much hassle. For one, Leave the Key Homebuyers in Long Island provides you with a cash offer so you can quickly sell your home. You don’t have to pay extra fees or make any repairs since they can buy your home as-is.
Plan out your moving day
Once you get the all-clear to move into your new home, there’s one last challenge you need to face, and that’s planning ahead for moving day. Be sure to find a reliable moving company that’s capable of transferring everything to your new home. To do this, pick a licensed and insured moving company that has a good track record when it comes to safety and efficiency.
You also need to prepare a checklist of all your items and notify utility companies about your new address. It also helps to do some initial packing with smaller, portable items so you only need to worry about your furniture come moving day.
Lastly, make sure you secure any and all documents you have lying around your old home. Keep these as close to you as possible.
Finding and settling down in a new home is certainly a life-changing event. Thankfully, the tips above should make the process memorable and exciting without much trouble.