Does your current job require you to move? There are many factors that influence a decision to relocate or not. The secret to a successful relocation is timing. Good timing takes some advanced planning to put you in control. Here are 5 more relocation tips to make your move a little less stressful.
1. Know The Market
Before you start seriously searching for a new home – or put your current home on the market – make sure you have a solid understanding of the housing market in your area. Is the market weighted toward buyers or sellers? Find multiple suitable options. You are less likely to find yourself in trouble if your purchase falls through when you price your old home fairly. Two extra months on the market because you did not want to lower the price means two months you’ll be paying double mortgages.
2. Plan and Strategize
Should you buy first, then sell – or vice versa? Both have their risks and rewards. Selling first makes getting a mortgage easier, but it also means you’ll need to find a temporary place to live. Buying first means moving will be easier, but it also skews your debt-to-income ratio,not to mention the difficulty of juggling two monthly house payments. When determining whether you should sell or buy first, think beyond “How can I make the move as easy as possible?” Instead ask: “Can I handle two mortgages? What if my home sells for less than its listing?” Whichever option you choose, make sure you are prepared to accept the consequences: having to store your stuff and rent temporarily, or undergoing the financial burdens of dual mortgages.
3. Shop For a Loan Before Looking at Houses
Before you even go out to look at houses, get pre-approved for financing first! That way you know exactly how much you are able to spend and won’t be disappointed later if you can’t afford the house you ended up loving.
4. Work Closely With Your Agent
Make sure every “i” is dotted and every “t” crossed on time for both closings. Work with an agent who has the knowledge and experience and will guide you through each process. Your agent will save you time and money and can refer you to the right lender, title and inspection company in order for you to have a smooth transition.
5. Contact The Aladin Group
Do you plan to relocate? Get in touch with us! The Aladin Group wants to help you, so don’t hesitate to call us under 480-359-6789 !