It is clear that there has been a surge in the housing market this year. According to Norada Real Estate Investments, 2021’s real estate market has been particularly strong compared to 2020 data, with strong housing demand in almost every part of the country. The strengthening economy, plus Millennials reaching their peak homebuying years is fueling this residential housing boom.
While properties are being sold exceptionally quickly, you may be thinking about taking a risk and moving to another state during this economically-advantageous time. If you are getting ready to move across the country, or even out of state, you will need to be as prepared as possible to streamline the process and have the best, most stress-free experience possible. Here are some factors to keep in mind to help guide the process.
With the low mortgage rates and increase in work-from-home opportunities Americans have recently enjoyed, many people have been leaving urban life to purchase a home in less densely-populated, suburban regions. Mortgage rates have been falling since 2018, when they peaked at 4.94 percent. The rates were cut in 2020 due to the pandemic, and in January 2021, fell as low as 2.65%. Because of these benefits home-buyers have been experiencing, homes are now more difficult to come by, and you may have to have even more savings than you would have needed five years ago. With that being said,the first consideration in relocating is to be sure you are in the right place financially to stick with this decision long term.
Once you have looked into the crime rate, schools and other amenities your new home/ neighborhood will offer, you will want to create an extensive checklist outlining every step in the process to be prepared for all possible circumstances. Move.com has an excellent template you can check out, but of course this is non-exhaustive and you will still need to consider factors specific to your situation.
Although everyone’s checklist will be different based on individualized factors, one thing everyone will have to do is complete a precise cost estimation. One way of learning the cost of your move is to request a free cost estimator from a reputable moving company. Once you have developed a relationship with a company, you can ask those movers to visit your home in person so that they can provide you with accurate in-home price quotes.
You will want to schedule an appointment to have the moving experts visit your new place as cost estimates received virtually will not be accurate. Be sure to do the necessary research on your moving company, and read the paperwork thoroughly to be sure they will be the best company to accommodate your needs during your move.
Here is a list from mymovingreviews.commymovingreviews.com of the top 10 mistakes you do not want to make while moving. If you can avoid these you are in great shape!
- NOT researching your moving company
- Self-moving WITHOUT considering your options
- NOT requesting in-home estimates
- Organizing your move WITHOUT a moving checklist
- Packing on your own WITHOUT a good plan
- Spending a FORTUNE on brand new boxes
- Packing and moving ALL your belongings
- NOT buying insurance for your valuable items
- Turning your back on moving day SAFETY
- NOT exploring all good ways to cut moving costs
Moving is stressful, so to mitigate the headache that comes with this decision you will want to have ample savings, a detailed checklist, a trustworthy moving company and plenty of help from friends and family with making your moving process as manageable as possible.