Week 4 in my Get Out of Town Guide

Hello again! If you’re here, it’s because you’re curious about the next step in planning your move out of Brighton. I’m here to help with my Get Out of Town Guide. In week 1 we talked about WHY you are moving, in week 2 we talked about WHERE you will move, and last week we talked about WHEN you will move.

This week we’re talking about money. I want this move to be a great financial decision for you! Here are a few factors to consider.

How much can you expect to sell your house for, and how much will you net from the sale? This is where I come in. I will evaluate your home’s condition and the state of the market. Based on that, I’ll tell you what you can expect to sell your home for. I can also tell you what you can expect to net from the sale of your property after closing costs and paying off the remainder of your mortgage. This is the first step because it tells you how much cash you’ll be working with when you make your move.

What can you expect to pay when you purchase a home in your new area? I have a nationwide network of real estate agents that I can pull from to find you a real estate agent wherever you are planning to move. Once I find you an agent you love, he or she can tell you more about how much your new dream home will cost. He or she can also recommend a mortgage lender in your new city/town/state who can go over what you can expect for a monthly mortgage payment.

Moving costs. Expect this to cost more than you expect it will. Look at prices in Brighton (and in your new area) and decide the most efficient and cost effective way for you to move. Will you rent a UHAUL? Will you rent a storage space and take several trips? Will you donate/sell most of your stuff and start over in your new home? Consider the cost of these different options, yes, but also consider how stressful each option will be. Saving a few dollars isn’t worth creating an extremely stressful situation for yourself!

Will your job income change? If you are moving for a job, they should be able to provide you with your new salary information before you start. I would recommend sketching out a new (rough) monthly budget for your family before you move.

Will you be paying more or fewer taxes in your new area? Property taxes are always something to consider, and something to build into your budget as well.

Budget in more money for eating out. Moving is stressful, and you’ll be eating out/ordering takeout much more. I’d budget a few hundred dollars extra to account for that.

When I consider financial decisions with my clients, I always advise them to be very conservative in all of their estimations. If you assume you’ll get less, then you’ll be pleasantly surprised when you have more money to work with than you expected!

If you or anyone you know is considering moving out of Brighton, I’d love to help! Reach out to me, and I can talk you through more of these financial decisions.

This has been week 4 of my Get out of Town Guide. Stay tuned for next week: Sell and Buy!