So you’ve decided to relocate to a new area. Congratulations!  Regardless of why you’re embarking on this new adventure, there are a lot of things to do to coordinate a successful move. Now that you’ve decided to take the plunge, it’s time to get organized. I’ve pulled together the top 4 mistakes I see buyers make when moving to a new city to help you avoid them and have a successful move.

Mistake #1: Not Fully Understanding the Pay at a New Job

You got a new job and it comes with a big raise. Yay! Before you start making lists of how you’ll spend all that extra money, let’s make sure you understand these two pieces of your pay.

First, get clarity on how you’ll be paid. Is it weekly, bi-weekly, or monthly? How long will it be from your start date until you receive your first paycheck? Once you’re clear on all those details, you can start looking at monthly cash flow. If you receive a salary, how much you earn each month is pretty straight forward. If you’re hourly, you’ll want to make sure you understand the consistency of your expected hours. Maybe now you’ll be receiving bonuses, or changing to a commission pay structure. It’s easy to be overly optimistic about the potential of your commission. Make sure you’re taking a realistic (and maybe even slightly pessimistic) view of what you’ll make as you establish yourself in the new position.

Now that you’re clear on how and what you’ll be paid, it’s time to start your research and find a good team of professionals.

Mistake #2: Not Adequately Researching the New Location

Housing is the most obvious place to start your research. For most people, housing is their biggest monthly cost, but don’t get caught up looking at price alone.  Here in Portland metro, each neighborhood has its own distinct culture and advantages. It may be worth it to spend a little more to live in the perfectly walkable neighborhood close to your favorite restaurants. Or be in the right school district for your kids.

Outside of housing, make sure you look into average/estimated costs for utilities, groceries and gas. Be sure to consider how those costs may change with the move. If you’re moving to a colder climate, you will probably need to use your heat much more frequently than you do now. Consider changes to the length of your commute and how that will affect your monthly gas budget. All important factors that are easy to overlook.

Once you’ve done your online research, be sure to spend some time in the neighborhoods you’re considering. Eat at the restaurants, shop at the grocery store, talk to people at the park. Are these your people? Do you feel comfortable and at home here?

Mistake #3: Not Working With Professionals Immediately

Before you even start looking at houses, be sure to get pre-approved. We’ll take into account your new job and walk you through the process so there aren’t any hiccups along the way. 

Next, find a great real estate agent. This can be hard when you don’t have connections in your new community. Your new company’s HR department may have recommendations, I can refer you to a great agent, or you can do some online research on top agents. Be sure to interview a couple agents to find someone who’s a good fit. A great real estate agent can make relocating significantly less stressful and cut down on the amount of time you need to spend doing the researching yourself. 

Mistake #4: Not Securing Temporary Housing

To be honest, I recommend people move and rent in the area they like for about a year before they buy a home. I can’t tell you how many transplants buy and then move again within a year or two. It’s so much easier to get a feel for an area when you’re actively living there, not visiting for a day or two.

But even if you decide to buy immediately, it’s still a good idea to plan on some sort of temporary housing to bridge the gap. It’d be a scheduling miracle to travel from one state to another and be able to move in on the day of funding. Best to have some wiggle room built in. It will save you significant time and stress.

Bottom Line:

Relocating to a new area is exciting and stressful. Take a little time to understand & research your new position and location, assemble a power team and create a plan to bridge any housing gaps, and you’ll streamline the process for a successful move!