Around thirteen percent of Americans move each year. Of those, out-of-state moves account for about fourteen percent. So if you’ve decided moving out of state is in your best interest, you are not alone. In fact, the demand for property in Sacramento, San Francisco, and the Bay area continues to climb.
Moving so far comes with several unique considerations. Have you taken the time to research the data for the Sacramento real estate market? Have you checked the local schools, medical providers, and how much business continues to grow in the region you are interested in moving to?
If you’re not sure where to start your big moving plans, you’re in the right place. Below are six considerations you’ll want to make before moving across state lines. It will also give you details from the buyers’ perspective for what you need to think about if you plan on paying rent in the beginning.
Top 6 Essential Considerations Before Moving Out Of State
1. What Is the New City Like?
You’ll want to get a feel for the new city before making a move. Every city and town in America has a defining culture that makes it different.
To figure out what you’re new city is like, ask yourself the following questions:
- What is the crime rate?
- Is it near a defining natural feature, like the ocean, lakes, mountains, or similar?
- Are there any annual events hosted in the city or town?
- What foods is that city or region famous for?
- Is the property in demand there, and does it hold good leverage?
- What is the weather like in California?
- What are things to do or see within an hour’s drive from the city?
- How are the local schools rated?
- How is the local real estate market? (I.e., What housing options are currently available?)
- Is it a sellers or buyers market?
- What is the price of rent compared to other cities in California?
- What are the age demographics? (Mostly seniors? Young couples with or without children?)
- How many houses are for sale in the neighborhood or community you are interested in living in?
- How is the Sacramento real estate market compared to other big cities, such as San Francisco?
Search and look at the answers to each of these questions carefully. These, along with the other considerations here, will help you determine whether the city is a good fit for you and your family.
2. What Are the Cost of Living Differences?
The cost of living varies significantly from one state to the next. For example, Hawaii is the most expensive state to live in, with the average home cost being around $1.5 million. On the opposite end, Mississippi is the most affordable place to live, with the average home costing about $128,000.
Look at real estate in the new location where you want to move and compare it to your current state. For example, the Sacramento region has an average home cost of $327,300. This is significantly lower than California’s overall average home cost of $552,800 in other cities.
According to the National Association of Realtors, the median housing costs national average in the United States for all home types in the current housing market in May 2020 was approximately $284,600 and continued to increase to over $295,000 in June. This included:
- Single-family houses
- Condominiums
- Townhomes
- Co-ops
New residential construction is also in demand in the Sacramento County region, especially with mortgage rates being as low as they’ve currently been. Some say it’s a sellers’ market, but that can change in an instant when comparing the housing market data.
However, it’s important to invest wisely in the Sacramento real estate market because if you need to sell and buy a bigger house later, the median home sales prices will probably be higher than what the current real estate market shows today.
3. What Is Your Budget for Moving Out of State?
All moves cost money but moving out of state costs significantly more than average. So be sure you’ve saved enough funding for the move. Whether you need to move from a one-bedroom apartment or a single-family home, get multiple offers from different companies before choosing one to help you move.
You’ll want enough money to pay for your new home or first month’s rent plus a deposit. Additionally, you’ll need money to hire movers (if applicable) and turn on your new utilities for the coming months. The main reason individuals make sure they have a couple of months’ expenses covered in their savings account is that moving to a new community in another state can be expensive.
Often, there will be a gap between paychecks when moving out of state. If this is the case, you’ll also need to factor in day-to-day expenses in your moving budget to compensate between paydays. It would also help to search the local business district to see where you can get money quickly if needed.
If you have items in your old home that you don’t need, consider placing them for sale on a quality community website that offers the best commission price when you sell something. There’s no point in moving junk to your new house when you can sell it and make some extra money.
Keep in mind that your budget should also be based on the area you are moving to and the real estate market home prices. For example, you would want to have a higher budget if you’re moving to San Francisco or the Bay area versus heading to Sacramento County.
4. What Natural Disasters Occur in Your New Area?
Natural disasters can include tornadoes, earthquakes, hurricanes, flash floods, severe thunderstorms, and blizzards. Unfortunately, many people forget to consider this when planning to move to another state.
However, it’s essential to understand what to expect. For example, the potential for earthquakes comes with your Sacramento real estate. Those Florida beach houses come with hurricanes, high winds, and possible flooding. And if you wanted to move to Kansas, you’d need to be prepared for the possibility of multiple tornadoes annually.
There are natural disasters everywhere you go. You’ll need to decide whether you can live with the ones occurring in your new location. You should also consider the type of home you are moving into. Is it new construction? If so, you’ll have good leverage when it comes to high winds or heavy rainfall.
If you decide you can live with what Mother Nature may bring, remember researching your local-specific phenomenon can save you a lot of stress later on. It’s also important to know what to do in an emergency ahead of time. Remember to go over this emergency information with your family, too.
5. What Kind of Moving Assistance Do You Need?
There’s no question you’ll need assistance when moving. The real question is what type of assistance you’ll use. Each type of assistance has its pros and cons, so it’s up to the individual to determine what’s best for them.
A few examples of moving assistance include:
- Professional movers to transport your things
- Professionals to help pack, unpack, load, and unload (but not transport)
- Friends and family to help where needed
- A rental van you can use to transport items yourself
- Childcare (to allow you to focus on other things)
- Move-in or move-out cleaning services
- Real estate agents to help facilitate the legal portion of your move
Remember, you’ll need to include any assistance in your moving budget. Costs vary significantly by both type and location. In some cases, a business may charge you more for using a one-way service to some cities, including the Sacramento region and the Bay area.
6. Will It Be Easy to Find Employment?
Some people move because they’ve already found a better quality job in a new location. If this is you, that’s great! Forget this consideration because you’ve already got it taken care of. Unlike a decade ago, employment rates are getting higher as people transition back to the workplace and places begin to get back to normal.
So if you don’t already have a new job lined up, you’ll want to get an idea of how easy it will be to find a job in the new location once you arrive. Information from government agencies on unemployment rates can help. Also, checking local job boards online is a good idea, especially for San Francisco, San Jose, Elk Grove, the Bay area, and other cities within Sacramento County.
If possible, try to start applying to relevant positions about a month before you plan on moving. Sometimes you don’t have an entire month to apply, and that’s okay. However, even starting job applications a few days in advance can give you a head start.
If you’re planning to move out of state, consider starting a side gig for some extra cash. Writers, graphic designers, consultants, salespeople, and more can easily find freelance work a few hours a week.
This will be an income you can continue to rely on after your move while searching for a full-time position.
Sacramento Real Estate Market
Suppose you are ready to search the Sacramento housing market to find the perfect property. In that case, you should partner with a real estate expert who can share the median sales price for houses in the location you are interested in moving to.
Whether you are looking for rental prices or the median price for a specific area, the right real estate agent will have everything you need when moving to Sacramento County.
The Sacramento real estate market can seem a bit overwhelming to people unfamiliar with the entire area, especially if you are looking for the best investment property. You’ll also have access to the most affordable neighborhoods and details about the median home value.
There are plenty of choices when it comes to the Sacramento housing market and every growing neighborhood in the area, including:
- San Francisco
- South Hagginwood
- San Jose
- Citrus Heights
- North Sacramento
- East Del Paso Heights
- Elk Grove
- Tahoe Park
- Rancho Cordova
- The Bay Area
- Surrounding Areas
Sacramento county has a lot to offer new residents, but the housing market can be a bit tricky. In many cases, sellers are getting more than the asking price for their Sacramento real estate. Therefore, partnering with a real estate agency specializing in this housing market would be the best move.
If you are interested in the latest numbers for Sacramento’s population, check the website for the Census Bureau to see the most recent data. You’ll also see how many people leave California within a specific time and the statistics for home sales in big cities.
Renting Vs. Buying When Your Move Out Of State
Many people wonder what is driving rental prices in the current market. But when you look at the number of new construction sites and real estate investors, it’s easy to see that having real estate property in a prime location can be quite profitable.
However, when it comes to paying rent or buying a house for sale, the asking price and interest rates can drive buyers closer to homeownership than ever before. Real estate investors are quickly finding out that the Sacramento real estate market is just as favorable for buyers as for sellers. Therefore, many people are skipping the rent options and are looking at the price of buying a house.
The Sacramento, California, real estate market is hot right now, and there aren’t any signs of it slowing down anytime soon!
Moving Out of State With Confidence
Moving out of state is a big decision. But, by considering these six things above before committing, you can make your big move with confidence. In addition, the historically low interest rates make this the perfect time for comparing home prices.
We’re here to help make your transition go as smoothly as possible when moving to Sacramento County and the surrounding Bay area. Contact us today if you need assistance with finding a new home in the state capital.
