Preparing for an Interstate Move: Your Guide to Relocating and Buying a Home in a New State

A family is loading boxes into a moving truck.

Relocating to a new state combines the excitement of a fresh start with the complexity of navigating unfamiliar territory—literally and figuratively. The move requires careful planning and strategic timing when purchasing a home in your new location. Whether you're relocating for a job opportunity, family reasons, or simply seeking a change of scenery, this guide will help you prepare for a successful interstate move and home purchase.


Start with Financial Preparation


Relocating across state lines likely means adjusting to a new cost of living, potentially different tax structures, and possibly a new salary. Before you begin home shopping, take these financial steps:


  1. Check your credit report and score. Interstate moves are significant financial undertakings, and you'll want your credit in the best possible shape to secure favorable mortgage terms.
  2. Calculate your new cost of living. Research how your destination state's expenses, like utilities, groceries, transportation, and healthcare, might differ. Online cost-of-living calculators can provide helpful comparisons.
  3. Update your budget to reflect these new realities. This will help determine the affordable home price range in your new location.
  4. Consider the tax implications. States have varying income tax rates, property taxes, and homestead exemptions. These factors can significantly impact your monthly housing costs and should be factored into your budget.


Understand the New Housing Market


Real estate markets can vary dramatically from state to state and city. What your money buys in one location might be vastly different in another. To understand your new market:


  1. Research average home prices, property taxes, and insurance costs in various neighborhoods.
  2. Identify neighborhood characteristics that matter to you—schools, commute times, amenities, and crime rates.
  3. Connect with a local real estate agent who specializes in helping relocating buyers. Their on-the-ground expertise can be invaluable when you're shopping from a distance.
  4. Consider how seasonal factors might affect your home search. Some markets experience significant fluctuations in inventory and pricing throughout the year.


Navigate Mortgage Considerations


Securing financing for an out-of-state move presents unique challenges:


  1. Work with a mortgage lender experienced in interstate relocations. We understand the complexities of buying a home from afar at Haymaker Home Loans and can help you navigate the process smoothly.
  2. Get pre-approved before beginning your home search. This strengthens your position as a serious buyer, especially when you are not physically present for all process steps.
  3. Understand how your employment situation affects loan approval. Lenders typically like to see employment continuity if you're changing jobs and locations. Secure your new position before applying for your mortgage.
  4. Research state-specific first-time homebuyer programs or relocation assistance available to you.


Coordinate the Logistics


The coordination of selling your existing property (if applicable), purchasing a new residence, and relocating represents a multifaceted challenge:


  1. Determine whether you'll sell first, buy first, or try to coordinate simultaneous transactions. Each approach has different financial and logistical implications.
  2. Consider whether a temporary housing solution might be necessary to bridge any gaps.
  3. Research moving companies specializing in interstate relocations and book well in advance, especially if you're moving during peak season (typically summer).
  4. Create a detailed timeline working backward from your target move date, accounting for the significantly variable closing periods in both states.


House Hunting from a Distance


Finding your new home while still living in your current state requires strategy:


  1. Leverage technology for virtual tours, video walkthroughs, and online research.
  2. If possible, plan at least one visit dedicated to intensive home shopping. To maximize your time, try to schedule multiple showings.
  3. Be prepared to make decisions more quickly than you might in a local move.
  4. Consider hiring a local home inspector who can be your eyes and ears on the ground.
  5. Ask your real estate agent to take additional photos or videos of properties and neighborhoods you're seriously considering.


Handling the Closing Process


Closing on a home in another state presents distinctive challenges:


  1. Determine whether you'll need to be physically present for closing or if remote closing options are available. Different states have different requirements.
  2. Work with a title company or attorney who can facilitate an interstate closing, potentially through mail-away closing documents or online notarization where legally permitted.
  3. Arrange for a final walk-through of the property, either personally or through a trusted representative.
  4. Understand the timing of when you will receive keys and can take possession, which may affect your moving schedule.


Setting Up Your New Life


Once you've purchased your new home, you'll need to:


  1. Research and arrange for utilities to be connected before your arrival.
  2. Update your address with the postal service, financial institutions, and other important contacts.
  3. Register vehicles and obtain new driver's licenses within the timeframe your new state requires.
  4. Research healthcare providers in your new area and arrange for medical records to be transferred.
  5. Explore your new community virtually before arrival to identify essential services and resources.


How Haymaker Home Loans Can Help


At Haymaker Home Loans, we specialize in helping clients navigate the complexities of interstate relocations. Our experienced mortgage advisors understand the challenges of buying a home from a distance and can:


  1. Provide pre-approval that gives you the confidence to shop in your new market
  2. Offer guidance on how different states' housing markets and costs might affect your buying power
  3. Coordinate with real estate professionals in your destination state
  4. Facilitate a smooth closing process, even when you're juggling the logistics of a move


Moving to a new state and purchasing a home there is undoubtedly challenging, but with proper planning and the right team of professionals on your side, it can also be an exciting new chapter. Contact Haymaker Home Loans today to discuss how we can help make your interstate relocation and home purchase successful.