No matter why you are moving, the process is always complex with various moving puzzle pieces. The more you know about the process, the better you can prepare for it.
People have long relocated from one side of the country to the other. In some cases, people move for work-related needs. In others, they move to get a fresh start perhaps closer to (or even further away) from family and friends. No matter why you are moving, the process is always complex with various moving puzzle pieces. The more you know about the process, the better you can prepare for it.
People Move Even at a Young Age
The U.S. Department of Labor Bureau of Labor Statistics reports that 90 percent of people born between 1980 and 1984 moved out of their parent’s home for at least three months by the time they were 27. Many of them moved after college, such as going across the state for a new job. Others moved out as they got married, had a child, or wanted to start a new life in a new area.
Planning to Move – Choose a Package That Works for You
For example, your relocation package should include moving costs and housing costs, such as the costs to pack up and unpack. You also want to ensure you have moving insurance in place.
If you are moving through your employer, you’ll need much more than this. In this case, your employer-provided moving package should take into consideration all of the costs associated with the process. There’s more than you think, too. It should include travel expenses for you and your family, housing cost considerations such as ending a lease, and transportation to your new location. Sometimes, you need temporary housing, too.
Don’t Just Stop There
Ask for the help you need. This includes international moving support, if you are moving across the world. It should give you the ability to bring your family and spouse with you. Consider the services you have to stop to move – the kid’s school, memberships to various organizations, and club fees. It all adds up. Make sure you think of everything you’ll likely be facing because of the relocation in advance.
HomeGo Can Help.
HomeGo is the nation’s largest home buying company, and we’re bringing professional experience, transparency, and assurance to homeowners who want an easier way to sell.
What to Do with Your Home
One of the most difficult components of the move is managing your house. Many times, employers move people across the country without a lot of notice. They need you to go to a new location fast. Yet, in most areas, the housing market just does not work that quickly. This leaves you with a need to figure out how to manage your home in a short amount of time.
Sell with an Agent
One of the options you have is to choose a traditional real estate agent, list the home for sale, and hope you get a buyer. There are some advantages to this, but you’ll need to be in a hot market where home sales happen quickly. If not, you may need to spend a bit more to update the house, market a bit more aggressively, and even price the home to sell. In some cases, this works just fine.
It is the best way to sell the home if you have time to wait. However, it’s never wise to leave your home vacant. In some situations, your insurance company isn’t likely to approve of a home being left vacant for more than 30 days. That could mean the family needs to stay behind if the home takes too long to sell.
Keep It as an Investment
Another option is to keep your home. Instead of selling, rent it out and manage it from a distance. This option can help in several ways. It helps to create a steady income for yourself and your family that can help to support your needs. It also ensures you have a home where your family is. If you are not overly confident that this move is going to be a long-term situation, and you want a way to get back sooner, a short-term lease to a renter can offer you that bit of support.
On the other hand, you need to consider the local market. Is there a rental market locally? Can you afford to rent it at the price point that is likely to get renters? And, who is going to handle the day-to-day management of the property if you are not nearby? These are all critical factors to keep in mind. If you plan to go this route, be sure to have a contingency plan in place to pay for maintenance and upkeep. And, you need to be able to afford the mortgage payment if you cannot find renters.
Sell It to a Relo Company
If you are using a professional relocation company for the move, they may offer this type of assistance. Keep in mind most moving companies do not. Only those that specialize in relocation offer it typically. They generally work with you, the property owner, as well as your employer, to speed up the home sale process. It may be a part of your relocation package, in fact.
The problem is this process can stretch out long term. And, not all situations are equal. If the company offers a guaranteed buyout, that makes it a better option overall because it means there is less risk to you as the property owner to lose money. Otherwise, you may have some limitations.
Buying that New Home Before You Sell
One of the biggest problems people have when moving like this is that they have trouble buying a new home because they are stuck in the mortgage of the old home. Until you sell it, you may find it very difficult to move forward. Most cannot afford to pay two mortgage payments each month. And, many lenders are not going to agree to give you a loan if you have one in place as it is.
Still, there are some financial options available for well-qualified buyers. You can put contingencies in place as well, that can help you to keep moving forward with the process.
Why not Sell to HomeGo?
With HomeGo, the purchase is simple and straightforward. They buy the home from you with a transparent offer. It’s clear and easy to know exactly what they are going to pay you for the home. Next, they buy the home as is, which means you do not have to invest any money into fixing up the home or marketing it. You also do not need to pay for a real estate agent to help you with the sale process. That in itself can help you save thousands of dollars.
You do not damage your credit in this method. You also do not have to wait long to buy your next home. This can help speed up the relocation process and help you to get into a new home quickly. Unlike relocation companies or rental situations, you know exactly what to expect and the entire process can take days to weeks, not months to work through. HomeGo may be the ideal option for those moving across the country or around the world.
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Check out more of our information on relocation.
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