FACTORS TO CONSIDER WHEN MOVING TO A NEW HOUSE

Moving a house can bring up an incredibly complex range of emotions, from fear and anxiety about the change to self-doubt about the decision, grief, and loss about the memories and the connections you have in the area. For this reason, it is always wise to proceed with caution to ensure that the process is as smooth as possible. Here are a few factors to keep in mind when moving a house;

1. Evaluate your finances The price point is the primary determining factor for house hunting or home ownership. The key factors that help to determine your price range are your monthly income, availability of funds to cover your down payment/ closing costs, your monthly expenses, and your credit profile. Support the cost you have planned to spend and set aside that amount. There will be various options that you will come across, but the ones you choose from must align with your budget and what you can afford. To calculate how much house rent you can afford, a good rule of thumb is using the 28%/ 36% rule; which states that you shouldn't spend more than 28% of your gross monthly income on home-related costs and 36% on total debts, including your mortgage, credit cards, and other loans.

2. Size of the home/ house It's essential to consider the number of individuals likely to reside in the house, the number of rooms you would need, and whether you need a separate home office or would prefer to utilize part of the available space to set up a home office. Another important consideration that is often overlooked is to determine whether the rooms are made in a more modern way to serve the privacy requirements of the persons residing in that house. Moreover, it is also important to consider parking amenities and security around the available parking space.

3. Location Having a firm idea of where you would like to live helps you get started on narrowing your home search. This majorly inclines to proximity to one's place of work, security within the area, access to various social amenities, or to suit one's lifestyle requirement. Not every home is suitable for your relocation. Other factors must be considered when deciding where you want your dream home. Does the location serve a long-term purpose? For instance, is the place suitable for long-term settlement if it's a retirement home? If considering a move that will enable farming activities, does the soil support farming activities? Homes in metropolitan areas tend to be highly expensive, unlike homes in the outskirts of the city, which will have a lower price.

4. The family’s financial future This could probably be about whether one wants to live in rentals or own a home. If the mover intends to own a home, the cost of owning it could either be through mortgage financing or asset financing. All these require a plan since they involve large cash outflows that, if not properly planned, would end up denting the family’s future financial obligations.

5. The community in which you’re moving to Relocating may require a mover to consider the surrounding community or the environment in general. For instance, an industrialized community setup with factories or warehouses in the neighborhood may not be ideal for most people as one would be prone to pollution and health hazards if that is not taken well. Local municipal rules and regulations could also help to determine the neighborhood. Putting up a home in an area likely to be a commercial setting in the future may also be a determinant. Other movers would want to know about street lighting in the area, whether there are proper sidewalks, and other safety features and facilities.

6. Maintenance costs New and modern houses may attract more people as the maintenance cost would be negligible or minimal compared to an old house. If you're moving to your compound, it would be essential to consider costs incidental to maintaining a garden or backyard or having a gardener.

7. Amenities If you have kids or are planning to have kids, the quality of a school at close range may be one of the most critical factors determining the location of your next home. One needs to do their research by getting started with an online search to look at schools available within the vicinity or even specific schools that could be far but available.

By Fidel.