Preparing to relocate – whether to a new city, state, or even country – can be a huge undertaking. From selling a home and packing to move, to finding a new place to live and learning about a new area, there are all sorts of responsibilities – and costs – that can come with relocating.
Having relocated numerous times ourselves – across town and across the country – our family is certainly familiar with ways to save on such expenses and the things to look for and consider in a new living location.
Tax rates
The tax rates can range significantly from state to state and even county to county and between local municipalities. From property tax rates, to sales and income tax levels, there can be a variety of differences in tax levels based upon the location to which you move. A location with no state income tax might have higher property and sales tax rates. A location with lower sales tax might have higher state income tax levels.
Taking time to review such rates before deciding upon where to relocate can help you find the spot that fixes your tax needs best.
Home/rental prices and availability
Home and rental prices can greatly affect the affordability of a relocation spot. With average home prices sometimes hundreds of thousands of dollars apart between states and even between neighborhoods in the same area – and rental prices often varying hundreds of dollars or more each month between locations – learning about the pricing as well as availability and long-term outlook of real estate in an area can make or break a relocation.
Demographics
Demographics can cover a wide range of factors that can affect which spot is right for a relocation. From the age of the population, to number of families versus single people, income levels, level of unemployment, and more, such factors can play huge roles in how comfortable you feel or how successful you are in a new living environment.
Being surrounded by octogenarians when you’re in your 20s, or finding you’ve moved to a family-focused neighborhood when you’re looking to living the swinging single’s life can leave you feeling out of place.
Researching the demographics of an area before making a relocation decision may help you find the right living location and feel more comfortable once you’re there.
Moving costs
MSN Money notes that, “According to the American Moving and Storage Association, an interstate move of 1,220 miles costs an average of $5,630. If you’re staying in-state, you’ll pay $1,170 on average.”
Doing things like buying your own packing supplies, packing possessions yourself, and possibly even conducting the move yourself – while sometimes a lot of work – can certainly cut the costs of having a professional mover do the work for you.
Therefore, before you choose a relocation spot, considering these aspects of such a change can help you pick the location that’s right for you and your family and hopefully reduce the costs involved in such a move as well.
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Disclaimer:
The author is not a licensed financial professional or relocation expert. This article is for informational purposes only and does not constitute advice of any kind. Calculations have not been verified by a professional. Any action taken by the reader due to the information provided in this article is solely at the reader’s discretion.
