With housing prices in many cities at an all-time high, many people are considering selling their homes in Danville and relocating to a more affordable area, probably out of California.
But before you make the decision to leave your home in search of a more affordable area, it’s important to make sure it’s the right move for you—and that means asking yourself a few questions.
So what, exactly, are those questions? A recent article from realtor.com outlined some key questions people should ask themselves before relocating to a new town or city for a more affordable home. Here are some of the most important ones:
Have you investigated the physical moving costs?
Even if you buy a more affordable house than your home in Danville, if you’re moving a long distance (and/or have a ton of stuff to move), the cost of moving can make a serious dent in your budget. Before you decide to relocate, get a sense of how much it will actually cost to move—and weigh those costs with the savings you’d get by relocating to a more affordable home. Take a hard look at your personal possessions and be ruthless about deciding what you really need to take with you – and what it makes sense to take. Items like refrigerators, washers and dryers can cost more to move than they are worth, for example.
You might also consider moving yourself, rather than hiring a moving company. That doesn’t mean you have to personally load or unload. There are a number of websites where you can access helpers by the hour who will do all the fetching and carrying for you.
What will your cost of living be in the new area?
Your home costs aren’t the only costs to consider when relocating. Even if your home is less expensive, if other living expenses are higher (for example, a significantly longer commute and higher transportation costs, or higher taxes), relocating might not actually save you any money. Make sure to consider the total cost of living—not just housing—before you relocate. And remember that we are very fortunate in Danville, to have Proposition 13 that effectively freezes our property taxes while we are living in the same home. Many states review (and increase) your property taxes every year.
Is the new area the right culture fit?
Relocating might save you some money—but if you’re moving to a place that doesn’t suit your lifestyle, the cost savings might not outweigh the drawbacks. Before you relocate to a new city (for any reason, including for a more affordable home), do your research to make sure it’s a place you feel you’d be happy in the long-term. Danville is culturally very sophisticated compared to many other places, even in California, let alone in other states. If you are leaving Danville to return to an area you know, that’s one thing, but if you are going to pastures new, that’s something else entirely.