Whether you're moving out of state for a new job opportunity, retirement, or perhaps a lower cost of living, there’s a lot to consider before you relocate to another state. Somewhere near the top of your checklist of priorities before moving out of state is likely a plan for selling your house.
Let's explore a few options to keep the transition to your new locale stress-free.
Why?
Understanding your “why” will direct your where, when, and how you relocate. Perhaps you just landed your dream job and you've got 60 days to relocate to San Francisco. Perhaps you're moving to be near family members and your timeline is flexible. Or perhaps a lucky few of you are ready to retire and you're looking for beachfront property so you can dip your feet in the ocean each morning. If you're reading this article, you likely understand “why” you’re relocating to another state, and the move is already taking shape.Where?
No matter what attracts you to move out of state, you’ll want to consider how your life will be impacted by the move. Before you take any action take a moment to consider:Weather
How is the climate different then what you're used to? If you’re retired, perhaps shoveling snow is not how you'd like to spend your mornings. Also, a good idea to take note of local natural disasters that occur in your new area. While Florida is a beach destination, hurricanes are a reality of life there and may affect where you choose to purchase your new home. Do yourself a favor and do a little research before committing to your out of state relocation.Taxes
It's a good idea to understand the tax burden you’ll encounter when taking residence in a new state. You might be able to spend a little more on your next purchase if you know the state where you're moving doesn’t collect income tax. Perhaps, you're going to get slammed with higher property taxes and you need to be a little conservative in your selection. Never a bad idea to consult your CPA to help you evaluate the tax repercussions of your move.Cost of living
Housing is likely your biggest expense, but it’s not the only cost to consider. Also, look into healthcare prices, childcare costs, changes to your transportation, and food expenditures. A handy tool to get a grip on cost of living in your destination is a cost of living calculator. Check out the tools provided by Nerd Wallet.Culture
A cultural fit with your new surroundings could play a major role in the selection of neighborhood. Consider putting yourself near neighborhoods that serve your interests.Things to Consider When Picking a Neighborhood:
Will you find people in a similar age range with compatible interests? Will most residents share your political affiliation? Does the area offer ethnic cuisine that you enjoy? Are there museums, restaurants, and venues that you may want to live near? Will you have access to the outdoor activities you love?
