Texas Mortgage & Real Estate Thoughts

Texas Relocation - Part 2

In part 1, I discussed the importance of 'Getting Ready' for your Texas Relocation. No matter your reason for relocating to Texas (or any state for that matter), you want to be prepared and you want to narrow down your location specifically.

Part 2 Finding a House in Your New Area

Before you sell your existing home or give notice to your landlord (if you are renting), my first suggestion is to contact a Relocation Specialist in your new area. As I mentioned in my previous post, this specialist could be someone within your company (generally within your Personnel Department). Or you can ask the Real Estate Agent that is listing your current home because they will tend to have connections outside of their direct area. As a matter of fact, most agents maintain a close relationship with affiliated agents across the country who may specialize it helping out-of-town home buyers.

When you contact this specialist, be prepared with provide all of the information needed to make your search easier. This information includes, but is not limited to, the following:

• A brief breakdown of your family members
  • Number of members
  • Children's ages
  • Any needs for elderly members
• What are your interest
  • Golfing
  • Boating
  • Gardening
  • Volunteering
  • Religious Activities
• Special Family Needs
  • School Requirements
  • Public Transportation
  • Distance to work
• Your employer and work location
• What are your target dates for house hunting and moving in
  • Looking at homes listed today may be a waste of time if you are not considering a relocation until the middle of next year. However, viewing homes in a specific neighborhood may still be helpful.

If you do currently own a home and have it listed for sale, you should talk with your listing agent about your financial stituation. No, not what amount is in your checking and savings account. I am talking about the amount of equity you have in your current home. This will help you determine what your downpayment will be and ultimately, what your loan balance will be on your new home. The listing agent can complete a Broker's Pricing Opinion of Value (BPO), which will help you determine your equity.

The next big question is, "what TYPE of home do you want?".  You have prepared your list of 'special requests' above, but let's talk about the style, size, etc. Here are some things to consider:

• Price Range
  • Knowing your down payment will help you with this determination.
  • When shopping for a home and ultimately for a mortgage, be sure you are comfortable with the mortgage payment. If its seems a little hight, consider lowering your price range or increasing your down payment.
• Style Preference
  • There are many styles to choose from, but not all home styles are offered in a specific area. Your real estate agent will be able to help you with this further.
• Room Requirements
  • What do you 'want' from your home? Family room, fireplace, separate and formal dining rooms, office space, three car garage, etc.

With some companies, your relocation specialist will match you with a Real Estate Agent that is familiar with your new area. Once you have updated them with your needs from above, they can guide you efficiently through the house-hunting process.

Something else to remember is to ASK questions. Remember this is a new location to you and the real estate agent you are working with is very familiar with this area. Ask about local parks, communities, home values in the area, local attractions, new constuction in empty lots, or anything else that may come to mind.

Stay in touch with this 'Texas Relocation' series here.

Texas Relocation: Part 1

One of the biggest questions when considering relocation is 'where do I start?'. I'll be writing a small series on what steps to take over the next few weeks/months prior to relocating. Should you have any specific questions that I have not covered, feel free to contact me directly through email or my office number listed below.

In Part 1 is "Getting Prepared"

As I mentioned, the first question is always 'Where Do I Start'. Unless you have relocated before, you don't truly know what to expect and where to start. You know and understand the goal - Move All My Things from Here to There. But just knowing the goal is not quite enough in this case. You don't want to forget any steps.

Whether you relish the idea of moving or your dread it, the act of relocating can be stressful. Remember, you need to cover all the steps from packing dishes, shipping the cars, and of course selling your home. So, let's focus this post on lowering the stress level for you and the entire family.

First - Buy a notebook to keep track of things you need to do and what has already been done. There will be a lot to cover. The bigger the family, the bigger the list. Keep this "Moving Book" in one place where everyone can see it. Not only will you track things that need to be done, but you will also track 'who is responsible' to get it done. Easy access allows anyone to make entry updates as things are complete.

Second - Hold family brainstorming sessions. This doesn't have to be formal, maybe just over dinner. Its a great way to get caught up on things that need to get done. Keeping everyone on the same page makes for an easier transition.

Third - Assign responsibilities and target dates. Don't stress yourself out by trying to take it all on yourself. Have your spouse and older siblings help out. You can even assign some items to the younger siblings. These responsibilities can be discussed during the family meetings, as well as any changes.

Before I get too far ahead, you should know there are professionals that can help you with these tasks. They are strong, experienced individuals who will help you through the relocation routine:

Company Relocation Manager - This title may be different from one company to another, but this individual would probably work in your companies Personnel Department and will counsel you on the companies relocation policies. Ask what the company will provide and pay for. Also ask what assistance or incentives are available to you.

Relocation Specialist - (may also be called Coordinator or Counselor) Relocation centers, real estate firms that specialize in relocation, and even some moving companies are ready to provide you with detailed information about your new community.

Real Estate Agent - An agent can save you a large amount of time and energy finding a home or apartment in the new area. Many homeowners don't think of a Real Estate Agent when looking for an apartment but why not? An agent is very familiar with the area. They can help you determine the best location considering your 'requirements' (work commute, schooling, etc). Overall, they will help you get connected with your new neighborhood.

Moving Companies - I mentioned them above, but its important to mention them twice. Movers can give time and money-saving advice on how to schedule your move, how to pack, and what not to take. Overall, they will help you get prepared to move.

Step 2 - Finding a House In Your Area