There are five crucial things you need to ask yourself before moving to a new city.
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If you’re moving to a new city, especially a large one like San Francisco, you need to ask yourself a few things to ensure that you’re up for the transition.
1. How’s the job market? You can find information in The Wall Street Journal regarding the job market in your new city. Additionally, websites like Glassdoor have a lot of information on employment.
2. Is the housing market sustainable? A great way to build wealth is through buying a home. Take a look to see if the market in your new area is on the rise, flat, or declining.
3. Can you live with the climate? By this, I don’t just mean in the extreme seasons of summer and winter—you need to be sure that you’ll be able to be comfortable year-round.
Make sure you’re factoring your new area’s tax laws into your budget so that you can sustain yourself when you move.
4. What are the taxes like? Some states have no tax, while other states have very high taxes; just make sure you’re factoring your new area’s tax laws into your budget so that you can sustain yourself when you move.
5. Can you even afford to relocate? Remember that there’s a lot involved with relocating, including hiring movers, setting up accounts, utilities, and so on. It can cost a lot of time and money, so be sure to have a solid plan before uprooting yourself.
If you have any questions regarding home buying or moving, please feel free to reach out to me. I’m happy to help.