Moving to another state is a major life decision. You might be making the move to another state due to a job transfer or personal circumstances, such as relocating to be closer to an aging relative. Whatever your reason for moving out of state, there are a few critical steps for a smooth transition.
How to Prepare for Moving Out of State
Planning and preparation are essential before you move to another state. For instance, you’ll want to research state tax rates, including income tax, property tax, and sales tax, to determine how the move will impact your finances. A cost of living calculator can be helpful for determining how much your everyday expenses will vary from what you’re used to. You’ll also want to find out what the state-specific rules are regarding your driver’s license, registration, and license plates.
How to Buy a House in Another State
Find a real estate agent in the area you’re relocating to. A local real estate agent can send you listings for homes in your price range and identify properties that are in desirable neighborhoods that meet your criteria, such as being within walking distance of an elementary school, within a short distance of your workplace, and other requirements. If you don’t know any real estate agents in the area, a good place to start is reading reviews of real estate agents and choosing one from there.
You should also plan to visit the area you’re moving to for at least a few days to visit properties in person and make a final decision before making any offers. A Redfin Agent can take you on as many home tours as you want, and if you find one you like, they can help you prepare and submit an offer while you’re still in town.
How to Get Pre-approved for a Mortgage in Another State
Find a lender that specializes in Relocation loans or is familiar with real estate transactions in the state you’re relocating to. There are several lenders that offer Relocation loans, making it easier for you to obtain mortgage pre-approval and navigate the full sale transaction even when you’re not physically present. While the process is similar to getting pre-approved for a mortgage loan in your own state, it can take longer to get approval, and you’ll likely rely on emailing and faxing documents to your lender and real estate agent.
How to Relocate to Another State with Little Money
Relocating to another state with no money is challenging, as even the process of moving your belongings can be expensive. If you have family or friends in the area you’re relocating to, arrange to stay with them for a few days while you investigate local employment and housing options. Securing a job before making the move means you’ll be generating income soon after the move, which will allow you to secure temporary housing until you purchase or rent a permanent home. If you’re having a difficult time getting interviews, check out the temp agencies in the area in which you wish to relocate.
Moving out of state is a big decision, but by planning ahead, taking time to research your options, and finding a great local real estate agent and the right lender, you can look ahead to life’s next big adventure with excitement.