Relocating to MN From Another State

Tips to consider before relocating to another state

When pondering how to relocate to another state, adequate preparation is key. Before packing up your belongings and hitting the road, keep these five things in mind.

• Budget accordingly

  Long-distance moving costs are based on the weight of your belongings and the distance to your new home. So the farther you go and the more stuff you have, the bigger your moving budget needs to be. Moving.com recommends factoring in these fees.

  • If you’re hiring professional movers, include a base moving fee and moving insurance.

  • For do-it-yourself movers, include truck rental, gas and equipment rental.

  • Other potential moving costs can include vehicle shipping, packing and supply costs, cleaning costs and real estate expenses such as a down payment and closing costs.

  Also, if you’re relocating to another state with a different cost of living, it’s helpful to research how far your salary will go. CNN Money offers a cost of living calculator to compare your expenses in your new town.

• Get pre-approved to buy a home in another state

  Before starting your home search, it’s best to start the conversations early and often with a mortgage loan officer. Then, fill out a loan application to get pre-approved. You’ll learn how much home you can afford during the pre-approval process. With this, you can confidently start shopping for an out-of-state home. Often times, my preferred realtors and myself with jump on a zoom call with buyers to talk about their wants and needs to highlight some amazing areas around the Twin Cities!

• Hire a real estate professional to help

  It’s best to visit your new city in person when home shopping, especially before making an offer. However, between online home listings and digital mortgage applications, buying a home remotely is easier than ever before. A real estate agent with local expertise can be a valuable resource, especially if you can’t take a trip to scout the area before you buy.

• Pick a moving company that specializes in relocation services

  If you choose to hire a professional moving company instead of doing the heavy lifting yourself, find one with experience in long-distance moves. The Federal Motor Carrier Safety Administration recommends obtaining estimates from at least three movers to compare costs and services. You can then check with the Better Business Bureau for reviews and ratings on the moving companies.

• Take steps to transfer your residence

  Paperwork is unavoidable when making your plan to relocate to another state. First, update your accounts’ billing addresses, including your auto insurance carrier, bank, and insurance. Then set up mail forwarding with the USPS. Once you have a moving date, you’ll need to set up your new utilities, and if you have kids, enroll them in their new school.

• Make career changes with care

  If you have been through the homebuying process before, you may remember that lenders typically look for a consistent work history in the same job and predictable ongoing income when evaluating loan applications. Switching jobs or shifting to self-employment during the loan process or moving to a new state without securing a new job beforehand, can affect your mortgage application and potentially derail the loan approval process. So, what does this mean for people who relocate for work?

  If you want to buy a home before starting your new job, there are strategies that can help you to qualify for a mortgage. Typically, as long as you begin your new job within 60-90 days of closing (depending on the loan type), you may still qualify for a mortgage. To do so, you’ll need to provide a non-contingent offer letter or contract as well as the proof of funds to cover mortgage payments after closing or your start date.

  I can provide guidance and help you navigate any potential challenges related to your job situation. Be ready to provide information that will verify your income and outline your finances to help keep the process on track.

Tips for buying a home remotely

It’s best to visit your new city in person when shopping for a new home, especially before making an offer. However, don’t worry if you can’t take a trip to scout the area before you buy. There are many useful ways to learn remotely about homes for sale and be better prepared for moving to a new state.

• Take the time to interview real estate agents with local expertise - I have a list of amazing realtors who specialize in relocation!

• Ask for personalized virtual tours of the homes that meet your criteria.

• Find out if there are property restrictions and a homeowners association (HOA), paying particular attention to the covenants, conditions and restrictions, also known as CC&Rs. Read the HOA guidelines to understand the community’s move-in policies.

• Investigate the property tax situation.

• Conduct online research of the surrounding area through news articles and neighborhood-related websites and apps.

• Gain valuable insight by joining neighborhood social media groups.

• Confirm that your new location has the amenities and nearby services that you value most.

• Research the school district.

• Check the local traffic at rush hour to get an idea of your potential commute time.

• If you have a will, trust or living will, contact an estate planning attorney in your new area because property laws and marital property rules may differ in your new state. (I have local recommendations for all types of needs)

• Reach out to your car insurance carrier to determine if your coverage will be different in your new state and if you’ll need a new insurance policy.

• Is your new home in a flood plan, at risk for an earthquake, hurricane or tornado? Educate yourself on the risks in your area and research hazard insurance policy offerings.

Here’s a handy list of tasks to tackle on moving day.

• Set aside your personal items and essentials like medicine, important documents and high-value items

• Get childcare or plan a playdate for your children, keep pets out of the way in a quiet area or board them

• Take photos of the current condition of your home and belongings

• If you’re working with movers, walk through your home as they inventory your belongings

• Double-check that the moving truck is heading to your new address and that the driver has your contact information

• Once the final box is loaded, do one last walk through to make sure nothing is overlooked

• Clean and lock up

• Gather and label garage door openers, spare keys and any other keys or remotes for the new owner

• Deliver your house keys to your real estate agent or where your purchase contract specifies

• Start your journey to your new home!

7 relocation tips for getting settled into your new home

With the move behind you, you can now take time to explore your new neighborhood, meet your neighbors and get organized. It won’t be long before your new house feels like home.

• 1. Check your utilities

  Before the move, you contacted your water, gas, electricity and internet providers to schedule when your utilities would be on at your new address. Now is the time to check them to make sure they’re all running properly.

• 2. Secure your home

  You never know who might have a spare key to your new home. Hire a locksmith to rekey your locks or install new ones. Don’t forget to change the codes on any doors with keypads.

• 3. Inspect your belongings

  As you’re unpacking, check the condition of your belongings and make sure nothing is missing. Then document any damages in case you need to file a claim.

• 4. Establish residency

  When moving to a new state, establishing residency is one of the most critical steps to take. Moving.com explains why your state of legal residence matters. “Without it, your ability to pay property and state taxes, vote, drive, pay in-state college tuition fees, attend a public school, and so on may be hindered. And don’t forget, there could be penalties coming from the IRS and other government organizations for having dual residency.”

• 5. Go exploring

  The best way to settle into a new neighborhood and town is to get to know it. Go for long walks or bike rides to local restaurants, shopping centers and parks. Pretend you’re a tourist and hit the popular attractions and museums.

• 6. Introduce yourself

  Before you unpack boxes, spend a few minutes meeting your neighbors. Then, set a date to host a housewarming party. Mingling with your new neighbors and coworkers is a great way to get to know them and put down more permanent roots. As a bonus, it will give you an incentive to finish unpacking.

• 7. Review your home inspection report

  A home inspection report can be a handy checklist of improvements for your home. Are there repairs and maintenance tasks that weren’t addressed as part of your home sale? Prioritize the ones that will save you money in the long run, such as insulating your windows to improve your home’s energy efficiency. The Balance recommends putting off major remodels until after you’ve lived in the home a while. Day-to-day experience in a home can inform your renovation plans.

Taking the time to learn how to relocate to another state is well worth your time, and so is getting pre-approved for a mortgage. For a smooth move, let’s connect to start the discussion today.