So, you’re starting to think about moving
Maybe you are looking for more space or a change of location. Perhaps that new job requires that you move to a new city or you’re ready to leave the rental market behind to own your property for the first time. Maybe you are thinking about how an investment property could help narrow the gap between where you are now financially and where you want to be. The experts at Hendra have the moving tips to make that special day go smoothly.
No matter what your goals are, this is not an easy process. Moving is nobody’s favourite: the nitty-gritty logistics of getting your possessions from point A to point B can be stressful and time consuming. However, before you starting filling boxes and calling the movers, you will be faced to with a lot of important and challenging decisions. These are decisions that can impact your overall happiness and well being, both personally and for your family. Can you handle a long commute or being house-poor for the perfect home or location? Are you country or city people? Where do you want to be in 5 years?
Moving isn’t just about boxes, vans and a couple burly men to help with the heavy lifting. By engaging in this process, you will likely also confront your own values, goals and desires. Hendra Moving is here to help you in this process. Here are 3 important things to consider before you make that big decision:
Moving can be a life changing experience. Where you live will shape your lifestyle, professional opportunities and the growth of your family. Understanding where you are at and where you want to get to is essential to finding the perfect fit for your move.
The questions can be endless. Are your goals personal, professional or family orientated? Do you want to rent, own or invest? How important is location? How long do you expect to live in the new place? What kind of changes do you anticipate during this time? Having a clear picture of the goals that you want your move to help you achieve is essential for determining the right city, community and type of housing for you and your family to meet those goals. Moreover, this process can help you determine which goals are needs and which are only wants. Can you give up space for location? Would you buy a condo for the amenities of downtown living, even if it means a much smaller living space. Do the lower housing prices in Langford outweigh the time and hassle of commuting everyday?
You should also consider if you are willing and able to renovate, or if you need to find a spot that is move in ready. While the old fixer-upper may seem more affordable, the ongoing, additional costs are not fixed; so, you will need to make sure that your budget allows for the unexpected costs and challenges that go with renovations. These do-it-yourself projects will be extremely exciting and fulfilling for some but stressful for others. Knowing which side you fall on will help to determine what kind of place to look for.
Furthermore, Victoria is a stunning city with endless natural beauty to explore. However, it can also be a challenging place to find work and housing, depending on your career and housing needs. So, you will need to consider if your goals are attainable in the city. If they aren’t, do you have an alternative plan or transferable skills to transition into a more hirable profession?
Moving isn’t cheap. Understanding your budget is essential to being prepared for the upfront costs of moving and for determining what price, size and type of place that you can afford. Figuring out your budget can help you determine a number of unknowns when looking to move: will you need to rent or can you look to own your property; will need to look for a bachelor pad, a condo or house; can you afford to live downtown or is a suburb outside of the city a better fit? While most everyone will have specific ideas about their ideal home and it’s features, determining your budget will help to identify if these goals are attainable and can help start the process of narrowing your wishlist to the essentials of what you can afford.
Do a GAP Analysis
While hiring a financial advisor might be beneficial, especially if you are thinking of home ownership, it is also an additional expense. A simpler way to figure out what you can afford is to perform a GAP analysis. A GAP analysis can help you to determine where you are at financially and how you can get to where you want to be. A quick google search can easily find hundreds of great templates but making your own is especially simple if you have online banking. Start by determining how much money you have coming in each month and then compare it to you monthly expenses. You can track this daily with each purchase and paycheck, or use your online banking records to review several months of income and expenses.
The GAP between your income and expenses will help to determine what you can afford right now. If this number is lower than what you’ll need to afford the housing goals that you’ve set, then you can determine what you will need to get there. Whether that involves increasing your income, decreasing your expenses or both, you will have a clear picture of what you have and what you need to close the gap between your dreams and reality.
Find the Professionals You’ll Need
While moving is expensive, it is also stressful. Part of this stress comes from everything that you will need to know but likely aren’t familiar with. From property taxes to the best neighbourhoods, mortgages to movers, hiring the right professionals will help you make sure that you know what you don’t know. To put it simply, don’t try to know everything, find one or two local moving professionals who can know what you don’t for you. Whether that is finding a mortgage broker to ensure that you get the best rate on that new home or finding a real estate agent who can connect your goals to the right property, the cost of the right professional can cover the hidden costs of investing in the wrong property for you and your family.
This is especially true when it comes to finding the right mover. While it may seem more practical to get friends and family to help you to do it yourself, the right movers can help reduce the stress of moving. They will take on the heavy and awkward assignments, navigating furniture through narrow doorways while preventing damage to the property and your possessions. From avoiding injury and damage to reducing stress and saving time, the Hendra Moving team, with an A+ rating from the Better Business Bureau, is Victoria’s local moving expert! We hope these moving tips that make that big day more manageable for you.