Almost 5.1 million people upped stakes and made a move to a totally new state last year, according to the US Census Bureau. This was a rise of 17% from 2010 and is the highest level since 2006; however, demand for housing has been outstripping supply with the recovery of the real estate market.
If you are ready to make a long distance move then you not only have to deal with the inevitable stresses of moving, such as packing up your possessions, finding the right neighborhood and navigating real estate transactions, but also with the economic conditions of today’s world. The good news, however, is that there are a few helpful tips that you can follow that should assist you in handling your upcoming relocation with the minimum of stress.
Potential buyers greatly outnumber available homes in the great majority of metropolitan areas, which is great when selling your current home but makes it harder to find a new one. Your flexibility in terms of selling and buying are also likely to be limited by tight lending rules. Your best move is to sell first and then buy, as most lenders will not extend you a short-term bridge loan if you try to buy a new home before you have sold your old one.
Another option is to rent a new home rather than buying it outright. This provides a wider range of choices for starter housing and allows you to make a better judgment as to where you really want to be before making any long-term commitments.
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