101 Series: Advice on How to Relocate to Another City – Consult with Bruce Coleman, Vancouver Mortgage Broker
Advice on How to Relocate to Another City
They may have changed jobs or recently been hired for a new position in another city. A good many of these urban dwellers already own a home and want to continue with home ownership.
Whether you’re moving from another city to Vancouver or just the opposite and are looking to buy a home in that new city, here a few tips to help you get relocated more smoothly and quickly.
Research your New Location Beforehand
Needless to say, the Internet is the best place to start. You can get everything planned out in advance by checking out many of the applicable local websites beforehand. Some of the ones you might to research before your move include:
- Municipal websites – Start with the official city website and you will get a good detailed synopsis of what the city is like and what it has to offer. You ca use their maps to get a gander at the neighbourhood zoning as it relates to your place of work. These maps will give you an idea about transportation access, availability of public transportation, schools and any other services you require.
- Real Estate Brokers – There is an abundance of available real estate agents with their own websites that can give you a snapshot of their experience. When you find one that suits your needs relative to the type of home you want, then you can email them whatever questions you have so you can initiate your search for a new home quickly.
- Mortgage Broker – You will need to finance your new home and you want the best rates and terms for your new mortgage so you will want to find an experienced broker such as myself to help you find the most suitable lender.
Finding Temporary Digs
Relocating to a new city means that either you alone, or you and your family will need some temporary accommodation for the transition period. Just about every city has an abundance and variety of accommodations that can be rented monthly. It also depends on what your employer will cover.
For some cities, finding temporary accommodation can be a challenge especially if the city you’re moving to is especially active such as Vancouver, Calgary or other hot spots. Temporary accomodatins can be anything ranging from executive apartments which you can lease on a temporary basis, an actual apartment which allows for short leases, or a motel/hotel with kitchen facilities.
As you or your family may be required to live in those accommodations just remember that many of your home furnishings and possessions may end up being in temporary storage in the meantime. This means you will have to very selective about the things you will need to have on hand for the duration.
Buying a new home along with selling your previous home will take time so plan for a temporary stay of anywhere from 1 month (if you’re really fortunate) to as long as 3 or more months before you can move into that new home.
Additional Things to Research
When you’ve settled into your temporary accommodation, and as your realtor begins selecting homes for you to view and your mortgage has been pre-approved, there are several other areas which you must prepare in advance including:
- Finding a real estate lawyer. Your real estate or mortgage broker may have some suggestions, but again you do most of your own research online.
- Find an insurance broker. If your current insurance broker isn’t a national brand then you will also want to find a local agent to get title insurance and your home and contents insured.
- Find a Home Inspector. An experienced home inspector should also be obtained to ensure that any prospective home you’re thinking of buying is free of problems and won’t end up being a “money pit.”