Buying or selling a home is a stressful enough undertaking already, but when you are also relocating to a new city, it only gets worse. And then there is the added stress owing to the fact that buying a home in one city while selling a home in another is a highly complicated and arduous process. There are, however, some things you can do to make the whole thing more manageable. Read on, then, to discover 5 things Newark buyers and sellers can do when relocating to a new city.
1. Determine Your Budget for Relocating
Relocating to a new city, whether it involves buying a home or selling a home or both, can be made far less stressful if you know your budget ahead of time. You need to know what you can spend on a home purchase and moving and related costs, which will also allow you to know how much you need to sell for (if that applies).
“To make relocating and buying a house easier,” according to industry pros, “you should always determine your overall budget first. Start by figuring out how much money you have to work with for both the move and the home purchase. Then, research the cost of packing supplies, moving services needed and home prices in the new city. . .. If purchasing a home, assess your savings and monthly income to figure out how much you can reasonably spend on a home. In addition to a down payment and monthly mortgage payments, you will need to cover closing costs, . . . homeowner’s insurance, property taxes, and utilities.”
2. Research Neighborhoods Thoroughly
Researching neighborhoods is important for any home purchase, but especially when you’re relocating to a new city. Remember, you’re not just buying a house – you are also buying into a neighborhood.
Some of the important things to consider when looking into neighborhoods are:
- Quality of schools
- Crime rates
- Traffic and commute times
- Proximity of and access to needed amenities and services
- Noise pollution and/or nearby detractors such as industrial parks or landfills
Certainly, when relocating to a new city, you should begin your neighborhood research online and learn as much about potential neighborhoods as you can that way. Then consult a local agent to discover more . . .
“{B}ecause agents tend to specialize in neighborhoods, hire an agent who works in the neighborhoods where you want to buy. A neighborhood agent can tell you the differences between homes, as sometimes a home across the street from another can vary greatly in price. Local specialists have intimate knowledge about their areas that you won’t get anywhere else.”
You can contact an experienced Newark agent to find out about neighborhoods at (848) 299-4847.
3. Get Information on Inspections and Disclosures
And there are some technical real estate matters you need to know about when relocating to a new city. You should get information about inspections and disclosures because the requirements for these can vary widely from locality to locality. In fact, the types of inspections performed vary in thoroughness, and in some states, sellers are not required to “disclose material facts to potential buyers.”
Be sure, then, to contact your agent to get the information you need about inspections and disclosures. To discover more, just call (848) 299-4847.
4. Look Into a Remote Closing If You Can’t Travel
Obviously, relocating to a new city, for both Newark buyers and sellers, can be a difficult thing to pull off. If you are unable to be present for the closing, one way to make it more manageable is with a remote closing.
“Luckily, you can make an offer on a house from a distance and can start the closing process online by providing an e-offer with digital signatures. Your real estate agent can help you navigate this process from a distance. If you can’t sign your closing paperwork in person, you will need to send signed paper copies by insured overnight mail. On the plus side, that extra stop at the post office is likely a whole lot easier than traveling just to sign closing paperwork.”
5. Work With a Good Local Agent
Finally,“[o]ne of the most important things you can do when relocating [to a new city] and buying [or selling] a house . . . is to find a reputable [agent] that fits your needs. He or she should have a thorough understanding of the housing market in various neighborhoods and should be able to help you make a smart decision about when and where to buy. A good .. . agent should be easy to reach (read: doesn’t dodge emails or phone calls) and should be able to send you listings that fit your budget and needs.”
We have knowledgeable agents who can make your life easier in these circumstances. When you’re relocating to a new city and need to buy or sell or both, contact us at (848) 299-4847.