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Vattoy's Views
Turn Relocation Jitters Into a Smooth Move
By Barrie Vattoy
Prudential Sterling Realty
Relocating, whether for a job transfer or your own initiative,
can be daunting because you are going to unfamiliar territory.
You are faced with the challenge of finding a new home in a new
community and having to accomplish it remotely. Here are some
strategic steps that will help you achieve a smooth home search,
and alleviate some of your relocation jitters.
Identify real estate professionals in a quality company.
Since you may need to select someone sight unseen, make sure he
or she is backed by a reputable and professional organization.
To help you evaluate the company, ask if they have a web site
and research their company on the Internet. Working with a quality
network increases your chances of being referred to a quality
real estate professional. As you talk with potential real estate
professionals, make sure they have experience working with relocation
clients, as well as specialize in the types of homes and areas
that you are interested in.
Familiarize yourself with the real estate market in your target
area.
Is the new city you are moving to in a buyer's or seller's market?
Are the home prices comparable to where you live now? The answers
to these types of questions will give you a heads up on what to
expect when you begin your home search. One way to familiarize
yourself with the new market is to scan the real estate section
of back issues of the newspapers circulated in your target area.
Most major newspapers are available at local libraries, and major
research libraries maintain archives of even wider selections
of newspapers. You can further familiarize yourself with the market
by reviewing listings online. Some major real estate networks
also post listings online. For example, Relocation BC.com list
properties at www.relocationbc.com
Determine your price range. Working with your real estate
professional, 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. One 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.
Evaluate your new community.
Start by developing a list of criteria to evaluate communities
and neighborhoods. Consider including 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. Check your local
library for "Places Rated Almanac" or research your
new community on the Internet. Web sites such as www.MSN.com allow
you to compare your community with another. And don't forget about
your real estate professional. He or she can send you a relocation
packet filled with information about your new area.
Develop a home features checklist.
Undoubtedly, you will be arranging one or more house-hunting trips.
Make sure your real estate professional knows exactly what you
need and want so that your trips are productive. Take photographs
of your current home or clip pictures from magazines to illustrate
the kinds of features you'd like in a new home. Develop a home
features checklist. Include rankings for the facts you consider
most important-price, square footage, number of bedrooms and bathrooms,
other living areas, garage space and other features. These may
include laundry facilities, appliances, fireplaces, decorator
features, landscaping, etc. You may also want to include other
factors that may be of importance to you such as trees, age of
the home, community pool, and proximity to employment, schools,
shopping, hospitals, etc.
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.
Barrie Vattoy can be reached at (604) 421-1010. Prudential Sterling
Realty is an independently owned and operated member of The Prudential
Real Estate Affiliates, Inc
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Prudential Sterling Realty
# 226-3355 North Road
Burnaby, B.C.
V3J 7T9
Fax 604-939-1797 Page: 604-618-8108
e-mail info@vattoyviews.com
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