Relocation Costs - A Primer in Financial Planning for Your Move
There are costs associated with every home search and purchase, no matter what your budget or where you are moving.
I recently completed a series on Home Buyer Costs You Might Not Be Thinking About. Here are the 3 articles:
Part 2 - Escrow and Closing Costs
Having moved a significant distance myself a number of times, I have found you need to factor in some additional costs when moving a distance, say to another state or across the country, in addition to some of the more standard costs. Some are obvious and to be expected, but are nonetheless worth mentioning so you keep them in mind as they can add up.
Certainly if you are working with a corporate relocation package through your company, that can impact your costs in a positive way, with a number of fees being covered in all likelihood, including temporary housing and moving your household goods.
$ $ $ $ $
HOUSE HUNTING TRIPS
You may plan 1 or more house hunting trips to your new destination to look at homes and make a purchase. Factor in:
$$$ A roundtrip flight
$$$ Or car costs
$$$ Hotel and food
$$$ And other miscellaneous travel expenses
This can run several thousand dollars potentially, especially for a trip from coast to coast. If you do more than 1 trip, it will really add up.
$ $ $ $ $
TEMPORARY HOUSING
You may not be able to move into your new home when you arrive, or won't have your household goods right away, so temporary housing might be in order - a rental condo, apartment or perhaps a hotel for a few days. Add in the food and you are looking at a couple hundred dollars a day, perhaps more.
$ $ $ $ $
MOVING YOUR HOUSEHOLD GOODS
A longer move will cost more money and be a bit trickier to coordinate due to distance, plus you will have to wait for your furniture (our move from Boston to SoCal was a 7 day 3400-mile drive -- our choice -- and 9 days for the furniture). Plus you may have a car to ship cross country, or more than one, which can add perhaps $1000 per vehicle for a cross country move (this can be coordinated through the moving company).
There are other expenses but these are likely the big ticket items. With technology there won't be nearly so much around mail and over-nighting packages since paperwork can be scanned and emailed, but you'll likely make more long distance calls for sure.
If you'd like more information about relocating in general (home searching, finding a REALTOR, finding the right community, packing to move, the move itself, psychological stuff associated with a move, moving with kids and pets), check out Relocation A to Z.
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All content copyright © 2010 Jeff Dowler Carlsbad Homes and Real Estate Tidbits
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ALL ABOUT THE CALIFORNIA RELOCATION DUDE
If I can provide more information about Carlsbad homes and real estate for sale and surrounding areas, the housing market in general (or locally), or otherwise assist you, friends or family in a home search or sale, please contact my mobile office or text me at (760) 840-1360 or email me at JeffDowlerSolutions@gmail.com
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