Smart relocation

You get the memo from your employer. They are pleased to inform you that your position is not being eliminated. They are happy to have you as an employee and hope you will be able to remain in your job. However, that job will now be located in.... Fill in the blank with the name of some locale to which you cannot commute from your present home. You must pick up your family, find a home, find schools for your children and move to a strange place. In addition, your spouse, who may be happily employed near your current home, must quit his or her job and start a new one.

If you follow the news, you know this is not an unusual scenario. Companies often decide that they can operate more efficiently in another town and either hire a new staff in that town or take their employees along. If your employer offers to take you along, you must decide if you would rather relocate or look for a new job. There are many practical factors to consider: cost of living in the new town, quality of life, and job opportunities for your spouse. There are also personal factors: leaving family, friends, and all things familiar. I cannot help you with that. What follows are resources that can help you with the practical issues. These resources can help you compare the costs of living, find apartments, find houses, and organize your move.

"I've Been Transferred... We have to move..."

These very words can strike fear into even the most self-assured. Whether you have been faced with a transfer or a move across town, this information can help. Most transferees must contend with the unexpected challenge of selling an existing home while finding a new home in an unknown community-and having to do it pronto. What can you do when faced with a transfer or a move? To shake off the relocation jitters and achieve a smooth move, you need to consider a few strategic steps:

Take advantage of company relocation benefits. One of the benefits that your new or current employer provides you is relocation and housing assistance. Relocation counselors can help anticipate aspects of the move and effectively manage the process. They can also aid you in decision-making and help you approach the move with a positive attitude.

Do you rent or do you buy. Well you can only answer that question if you know where to find the answers. A Real-Estate-By-Experts.com reprehensive has experience in answering this type of question and can provide you with the tools and detailed information specific to your needs.

Owning should be less expensive than renting. Here's a guideline that may change the way you view your seemingly cheap monthly rent. In order for you to see how expensive a home you could afford to buy while having the same approximate monthly cost as your current rent, simply do the following calculation:

Take your monthly rent, multiply by 200 = purchase price of home
Example: $ 750 x 200 = $150,000

In this example, if you were paying rent of $750 per month, you would pay approximately the same amount per month to own a $150,000 home (factoring in tax savings). Now your monthly rent doesn't sound quite so cheap compared to the cost of buying a home, does it? As a renter, your rent is fully exposed to increases in the cost of living, the annual increases in rent is 4 percent per year.

Identify real estate professionals in a quality company. Using Real-Estate-By-Experts.com's Agent Interview Questions and our Nationwide Network of prescreened Real Estate Agents®, you will be assured of finding an agent who will meet all of your needs.

Familiarize yourself with the real estate market in your target area. One way to do this is to scan the real estate section of back issues of the newspapers circulated in your target area. A better way to become more familiar with the real estate market is to contact a Real-Estate-By-Experts.com Agent who can provide you with detailed and up-to-date statistics on the current market.

Evaluate your new community. Read through the abundant and current information provided to you by your Real-Estate-By-Experts.com representative on such factors as commuting; school systems; parks; libraries and community facilities; property tax rates and other taxes; crime rates; cost of living; current and historical property values; age and character of neighborhoods; recreation; outdoor activities and arts; community organizations such as churches, charities and sports clubs; shopping; health care; and other amenities, services and costs. 
Keep in mind that neighborhoods within the same community can vary greatly. Never choose a home without some firsthand knowledge of the neighborhood.

Determine your price range. Working with a Real-Estate-By-Experts.com Real Estate Professional or relocation specialist, estimate the price range to which you will confine your search. Many advisors recommend that your debt ratio be no greater than 36% of your gross monthly income. In other words, when combined, a car loan, tuition loan, credit card debt, property taxes, insurance, mortgage and other debts should not exceed 36% of your gross monthly income. The best way to determine your price range is to obtain pre-approval from a home mortgage lender. As an added benefit, buyers may take you more seriously with this written commitment from a lender. Don't be afraid to speak with a lender to find out where you stand, as most preliminary evaluations are free. You may even find out that you can afford to buy the home that you NEVER thought that you could!

Communicate with your real estate professional. Because an agent may represent the seller, the buyer or both, find out where you stand. Then, verify that your real estate professional knows exactly what you need and want. Take photographs of your current home or clip pictures from magazines to illustrate the kinds of features you'd like in a new home. Good communication can result in a faster home sale, more quickly identifying a new home and a quicker, easier relocation. When negotiations begin, let your real estate professional know that you want to hear the good news along with the bad. If you don't understand what's going on, don't hesitate to ask questions.

Most important of all, approach your relocation with a positive attitude. Moving can be painful or joyous, depending on whom you consult, how well you plan, and how openly you approach the task. Through a process of sound decision-making, you can banish the relocation jitters and ensure a smooth start to a new life.