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Deciding Where To Live: What Items To Consider

Jan 18, 2021

As businesses adapt to ever-changing circumstances, more and more employers are pivoting to remote working solutions. According to Kate Lister, President of Global Workplace Analytics, 25-30% of the workforce will be working-from-home multiple days a week by the end of 2021. As more workers have the ability to work from home, we are seeing many families relocate to less populated areas.

If you are considering a move, make sure to include the following items on your list of considerations:

 

Affordability

Affordability is at the top of most people’s lists. After working with one of our Diamond Residential Loan Officers, you should have a concrete idea of your monthly housing budget. Pricing may fluctuate between different counties and cities.

 

Growth potential

Another item that heavily influences where most buyers decide to relocate is the ability to grow their investment. You may want to consider locations with:

  • High job growth
  • Lower tax rates
  • Stable home price growth

 

Picking an area that is likely to grow means an increase to your home equity, resulting in a positive return on your down payment investment.

 

Schools

If you have children, schools are an important factor in where you decide to buy. Make sure to thoroughly research the local schools to best accommodate your child’s education level (elementary school, middle school, high school, and college).

 

Work

While you may predominantly work from home, a situation may arise where you have to physically visit an office or workspace. Speak with your employer’s leadership team to determine if there are any true limitations to working from home. If this is not an issue, you will also want to think long-term. What is your wage depending on where you move? Thinking about those factors ahead of time ensures you are not shocked if you switch jobs.

 

Airports       

Do you travel often? Your closest airport can impact your life much more than you think. Moving far away from an international airport could mean hours more in connecting flights and commute time. If you travel at least once a year, this should be on your list of items to consider.

 

Crime

To help decide on your move, review an area’s crime rate to ensure you will feel comfortable and safe.

 

Friends and Family

Do you need to have friends and family close? Make sure before you relocate you think about how often you will need to see them. Travelling may be a heavy burden if you move too far away.

 

Taxes

While some areas may seem very affordable, you may also want to consider the property taxes for a home. If the property taxes are high and have a history of increasing, you may want to consider other locations.

We have loan officers all over the nation. Click here and speak with one of them to start planning your move today.