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1. Not having
enough details & demographics about your new hometown
Gather as much information as possible about your new
destination, from sources such as Mortgage 101's Power Relo
Tools, your RPS relocation package, Chamber of Commerce newcomer
packages, location magazines and your Realtor.
2. Not having your home priced and showable for selling
Check your home thoroughly for all needed repairs before listing
it for sale. Pay attention to details such as gapped caulking,
chipped tiles, paint...it's often these little things that
potential buyers will notice. Also, have the home professionally
cleaned, including carpets. If you haven't had your home
appraised in the last two years, do it before putting the home
up for sale. Also, have one or two Realtors give you a
Comparable Market Analysis. This will show what other comparable
home in your neighborhood have sold for recently. Over pricing
your home at the outset will result in slow showings and a delay
in selling.
3. Poor research of what your money can buy in your new city
Many factors such as differing salary, cost of living, taxes and
housing prices affect what the same dollar can buy in different
parts of the country. Resources such as Mortgage 101's Power
Relo Tools, the Chamber of Commerce, Realtors, and Runzheimer
Reports can give you this information.
4. Not getting a mortgage pre-qualification letter before
house-hunting
While pre-qualifying with a mortgage company doesn't provide
final loan approval, it does give you a realistic price
guideline and shows sellers that you are a serious and qualified
buyer.
5. Not protecting yourself with the best home inspection
possible
This goes for both the home you're selling as well as the one
you're buying, although who pays for the inspection (buyer or
seller) is negotiable in each separate contract. A good
inspector should be: A member of the ASHI (American Society of
Home Inspectors); bonded, licensed and insured; able to provide
references; up front about their fees and what is included (are
termite inspections extra, for example.) Your Realtor or
mortgage loan officer can recommend a certified inspection
company.
6. Setting up the best interim housing between destinations
When you first arrive in your new town, you'll most likely need
to have temporary housing arrangements until you can close and
move into a new home, or find a permanent rental. This may be
anywhere from a few days to a few months. If you foresee needing
interim housing for less than 30 days, the easiest option is a
suite hotel geared for extended stays, such as a Residence Inn
or Lexington Suite. For a month or longer, corporate apartments
or homes are much roomier, more comfortable, and usually 20-60%
less than paying a daily or weekly hotel rate.
7. Moving your household and "stuff" safely from
point A to point B
Depending on the size of your household and the distance of the
move, you may want to consider hiring a moving company.
Obviously, doing it yourself can save quite a bit of money;
however, the time factor, experience of professional movers and
the insurance they provide your contents may make hiring the
better choice.
Moving companies can give you either a binding or non-binding
estimate. Binding means that the cost is held to exactly the
estimate they give; this means that they will actually
physically inspect your home before giving the estimate. A
non-binding estimate is only an approximation and no guarantee
that the final billing won't be more. However, federal law sets
a ceiling of no more than 10% additional charges over the
estimate. You will also want a moving company that can guarantee
the pickup and delivery dates.
8. Having a trailing spouse who needs to relocate into a new
job
By the year 2000, 65% of all households will have two incomes,
creating a significant burden when losing one income as a result
of relocation. 27% of companies provide spouse employment
assistance; if yours is one of them, take advantage of it. If
not, try to begin establishing a network before you arrive,
contacting any friends or acquaintances in your new city;
subscribing to the newspaper; contacting recruiters, placement
firms and career counselors; contacting the chamber of commerce
and employment commission; and joining organizations, especially
networking ones. If a job still hasn't been landed by move time,
consider volunteering or joining a temporary agency - great full
time careers have been started from both.
9. Finding the best new schools for your children
Concerns about family and children is the second most frequently
cited reason for reluctance to move. There are many ways to find
out all the information you need to make a wise decision. If you
haven't decided on a particular area of town, the chamber of
commerce can give you a wealth of statistics on all local school
districts, as well as private schools. Using Mortgage 101's
Power Rel Tools can provide excellent information. If you have
decided on a particular area, your Realtor can get you a school
district information package.
10. Concerns over your children making a smooth transition
In addition to educational concerns, we also worry about the
emotional effects of a major move on our children. They may be
resisting the move; may even be angry. Will they adapt
well...will they make new friends? Probably the best way to ease
the way is to involve the kids in the move. Provide them with
the same information about your new town that you have. Rent or
buy videos about your destination to watch as a family. There
are also many excellent books geared to children of all ages.
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