Serious Real Estate Challenges for Serious Relocation Buyers (Part 3 of a 3-Part Series)

By
Real Estate Agent with eXp Realty of California CA DRE #01490977

 

Serious Real Estate Challenges for Serious Relocation Buyers (Part 3 of a 3-Part Series)

 

In this 3-part series we’ve discussing issues related to relocation – challenges to confront and some things to think about.

 

The Surfing Madonna mosaic in Encinitas

 

In Part 1 we talked about (1) searching for that new home; (2) using a qualified, knowledgeable REALTOR, and (3) doing your due diligence. If you missed this post, you can read it here >>> Serious Real Estate Challenges for Serious Relocation Buyers (Part 1 of a 3-Part Series)

 

In Part 2 we discussed (1) the disadvantage of house hunting from a distance, and (2) timing issues related to buying, selling and your actual relocation. You can read Part 2 here >>> Serious Real Estate Challenges for Serious Relocation Buyers (Part 2 of a 3-Part Series)

 

Here are some final things to think about as you embark on your relocation to your new home:

 

BE FLEXIBLE

 

Relocation may require more flexibility than moving locally. With the timing and distance issues, differences in the new vs. old housing market, and all the tasks you must accomplish, the inability or unwillingness to be flexible could make life miserable.

 

And that includes having contingency plans when things go awry which is more than likely to happen at some point. This is not to discount the importance of being flexible in ANY real estate transaction but relocation adds a new dimension. Being as organized as possible from start to finish will help tremendously.

 

 

FINANCIAL

 

Relocation can cost you extra moneyYou will have the same financial issues with selling a home and buying a new one, but probably some additional, and perhaps significant, costs.

 

Factor in moving your household goods a long distance, travel (airfare or car + hotel + food), possible temporary living costs, and more in your relocation budget.

 

A relocation package from a new employer can help, depending on what it covers, but you may experience an increased tax burden as a result. Check with your new employer on the details of any relocation package so you know what to expect.

 

 

LIFESTYLE CHANGE

 

Could THIS be a lifestyle change for YOU??!Often a relocation results in a lifestyle change, due to the new location. Consider how different living in California will be than Boston (I know that well), for example – differences in weather, style of dress, things to do, etc.  I think some who relocate think things will be the same as in their old home and find the adjustment tough; others are deliberately seeking a lifestyle change and embrace the many changes.

 

You won’t know, of course, until it happens but it’s something to keep in mind – things likely WILL be different and that can be stressful and take a period of adjustment. And that can vary from person to person.

 

 

Relocation can be tough in many ways, and each scenario is different. I highly recommend being as planful as possible, asking lots of questions, setting up contingency plans, and of course working with a REALTOR in your new area who can be your voice of reason and a terrific resource.

 

If I can be a resource for you in your relocation to Southern California, just let me m know.

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Rainmaker
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Ginny Gorman
RI Real Estate Services ~ 401-529-7849~ RI Waterfront Real Estate - North Kingstown, RI
Homes for Sale in Southern RI and beyond

Jeff, you say it oh so well...relocation is not a piece of cake...i've had buyers who can not believe the price differences between Tx and here and don't believe that they can't replace their home but need to scale back...it is a many step process...great series so serious relocation people understand the process.

May 23, 2012 12:46 AM #1
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George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Jeff your expertise in relocation moves really came through in each of the three blogs that you did on this topic.  Great Job.

May 23, 2012 10:47 AM #2
Rainmaker
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Gail Robinson
William Raveis Real Estate - Southport, CT
CRS, GRI, e-PRO Fairfield County, CT

Jeff - If I was relocating to your area (and it sure is tempting), you are the REALTOR I'd trust to help me.  This was an excellent series and I hope relocating buyers read it and call you!

May 23, 2012 03:05 PM #3
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William Johnson
Retired - La Jolla, CA
Retired Real Estate Professional
Hi Jeff, A superb series and you did one masterful job of laying this out. Just terrific and so helpful to anyone that is changing locations be far or near. Every change while we often look forward to the idea, in practice it is always a real learning process and stress can be a significult part of it.
May 23, 2012 04:15 PM #4
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

Ginny - that is all so true. I know of a few who decided to NOT relocate because they could not make all the pieces of the puzzle work.

Thanks, George - I guess i have learned a few things from 4 major moves and a bunch of smaller ones.

Jeff

May 24, 2012 01:07 PM #5
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Jeff Dowler, CRS
eXp Realty of California - Carlsbad, CA
The Southern California Relocation Dude

 

Thanks, Gail. And I would certainly feel the same about moving to your area, of with a client who was moving to the Black Rock area.

 

William - what a nice compliment. And yes, I think relocation is mighty stressful, for a host of reasons, even if things go well, given all the changes. It can be exhilarating at the same time.

 

Jeff

 

May 25, 2012 01:55 AM #6
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Patricia Kennedy
RLAH Real Estate - Washington, DC
Home in the Capital

Jeff, something tells me that it's easier for people to adjust to a lifestyle that includes sand and the Pacific Ocean than coming from that to DC! 

May 26, 2012 01:33 PM #7
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Jeff Dowler, CRS

The Southern California Relocation Dude
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