Relocating due to work can be tedious and stressful – being pro-active and organized will help keep the process moving along without overly complicating your life… Moving along, get it, see what I did there.
First, is this Temporary or Long-Term?
Oddly enough, this question was not at the top of the list in most the resources we combed through in preparing to write this article. Yet, this question is quite important as it sets the direction for the level of work ahead. If your move is temporary, for example, less than a year, you may not want to move at all, instead consider placing your home as an AirBnB, there many people who will manage your property for you alleviating most the work involved.
If the move is less than a couple years, moving your belongings into a local storage facility and placing your home with a property manager for longer term rental may be a good option. And if you’re expected to be away for longer than a couple years (and you’ve owned the property for a while) thinking about selling your home may be the best option available to you.
Regardless, whether your move is temporary, a couple years, or long-term, you may want to meet with a REALTOR® to get a real heartbeat on the local real estate market in your neighborhood. This meeting will also prove helpful in case your plans change and need to place your property up for sale – they will already have a brief familiarity with you and your property, and you with them.
Timelines & Tasks
Once you’re determine the length of your relocation, you’ll need to plan backwards to ensure you arrive at your location when you want to arrive. You’ll want to make a list of all the tasks that need to be tackled before walk out your door for the journey. This may include gathering all your utility providers to prepare for transferring/cancelling service, finding a landscaper or pool service, finding a storage unit, securing a moving truck or company, find a new place to live at your destination and of course, all the tasks associated with your new home. Write the tasks and prioritize.
Each task often represents both time and money. And since most companies these days do not offer too much relocation assistance, most, if not all, these expenses are going to fall on you. Be sure you have enough cash on hand to cover all these expenses – cash may be key if you’re planning on purchasing another home where you’re going as quickly charging up credit cards may make your next mortgage process potentially more complicated. It’s better to make a few financial cutbacks now to set aside the cash than to make cutbacks in the future to pay off debt while also getting stuck with a higher interest rate on your next mortgage.
Unless this relocation is forced or