Whether you’re moving to Austin from out-of-state or from a different city, there’s a lot to do while preparing for the big move. Below are some tips to make your move hassle-free.
Work with a REALTOR®
Buying or renting a new property is a very intricate process (not to mention the biggest investment you’re likely to ever make) that involves contracts and addenda, important financial documentation and review, and overall, some very important decisions. Don’t go at this alone—work with a Central Texas REALTOR® for key insight and direction during the buying or renting process, local knowledge and expertise, valuable recommendations on loan, appraisal, and other professionals to work with, and more. Protect your interests by working with a professional, just as you would with any other major purchase. Find a REALTOR®.
Make your Wish List
Before beginning the search process, consider your wish list for your dream home. Make sure to be realistic based on your budget and availability. Your REALTOR® can help to ensure you don’t forget anything. Consider things like:
- type of home (single-family, duplex, condo, multi-family, etc.);
- preferred location, based on your work location, commuting time, your kids’ new school, your life style, preferred activities, etc.;
- age of home;
- interior and exterior home wish list; and
- size of home (number of bedrooms, bathrooms, square footage, home office needs, etc.).
Budgeting & Preparing your Finances
If you haven’t heard, the Austin real estate market is very competitive right now, as demand is high (and constantly growing) and housing supply is tight. If you find the right home, be prepared for a fast closing process by securing your funds and proper paperwork ahead of time. Here are some helpful tips to prepare you.
- Find a lender (and secure a backup).
- Receive a good faith estimate of all your closing costs within three business days of filing your loan application.
- Nothing’s worse than an unexpected bump in payments. Budget for all closing costs: down payment, costs for establishing and transferring ownership, costs of securing a mortgage (appraisal, credit checks, loan documentation fees, notary charges, loan origination, underwriting, etc.), possible extra funds in case you need to offer a competitive rate above market value to secure the home, etc.
- Establish your budget and know what you can afford. Consider monthly costs like homeowners’ association fees, your cost of living, homeowners or renters’ insurance, utilities, lawn care, etc.
Get your Records Straight
If you’re moving, it’s critical that you keep the following items up-to-date. Doing so will ensure that you have the proper records during the real estate transaction and that you stay out of trouble with the law. Check out www.Texas.gov for helpful tips and links.
- Driver’s License
- Car Registration and License Plates
- Concealed Handgun Licenses
- Vital Records
Overall, there is a lot to consider during a move to a new city and/or state. Save time and energy by preparing early and finding the right REALTOR® to guide you through this process. Best of luck!