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Thread: Thinking of Moving

  1. #1
    Original Gearhead pdexta's Avatar
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    Thinking of Moving

    My wife and I have been entertaining the idea of moving recently. Since the forum has been a little slow lately, I thought the discussion might make for some entertaining conversation and some of you may have some bits of helpful advise to make the process a little smoother. This will be my first move as an "adult", which I'm finding to be a lot more intimidating than when I was a college kid jumping from spot to spot without a care in the world.

    We're looking at somewhere around the East Tennessee/West North Carolina area. Gazorman, that's your stomping grounds right? Any input as to specific areas would be appreciated. We're looking to find somewhere big enough I can find a job (Accounting), but hopefully a little more laid back than Fort Myers (at least avoiding "season"). After some research we're leaning strongly toward the Knoxville area. It seems like a decent job market, college town, reasonable housing market, and close proximity to mountains.

    As best I can figure you:
    1. Find a city
    2. Find a house
    3. Buy a house
    4. Find a job
    5. Move crap
    6. Sell FM house
    7. Start job

    Anything I'm missing, or out of order? I guess temporarily renting an apartment or something up there would simplify the finance portion, but then you're stuck moving twice, which sounds terrible.


    Of course there's a million factors to each of those steps. How long will it take to find a job? How long will it take to sell our house? Then there's trying to get approved for a mortgage, while you already have a mortgage, and you're quitting your current job... I just feel like a bank is going to be a little nervous about that. Any of you guys have advise, or input that might make the process simpler?
    Scott
    2000 SE Miata ♦ 6sp, MS3X, GTX2860 @ 20psi, E85
    2005 Civic Hybrid ♦ 5sp

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    🛠 Tool wench 500+ kung fu jesus's Avatar
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    Re: Thinking of Moving

    Scott, I think you have the order a little mixed. Here's how I would suggest (I've done this a few times now):

    Find a city
    Find a job
    Find a house
    Move
    Start job
    Sell your old house/ buy new house

    There are a few variables in this. Can you swing two mortgage payments for the time it takes to sell your current house? How long? Are you living in a desirable neighborhood, etc.?

    I don't have kids, but for every out of state move I have done with my wife (5 times now), it's been easier in the long run to rent a home for a year or two in the next city to get acclimated with the real estate market of the new location (schools), settle into our jobs, settle into the revised monthly expenses, etc. Yeah, you wind up moving twice in a year or so because of the rental, but we have found it gives us a better feel for what is a good value (long-term) on housing investments. All this can be circumvented if you have great knowledge of the new area you are moving to, friends or family, etc. In that case, you can start shopping from your old location. Sometimes doing it as we have gave me some leverage when negotiating moving and salary. I have had employers who footed the deposit on a rental home and other things, rather than have me be distracted or delayed while I found permanent housing. I have also rented my old home through a management company when I moved from NC to CA. I rented it two years, got out just before the market crash and it was pretty good. Another move, the house sold the day it went on the market, so that was fortunate. There are a lot of ways to play this out.

    As for W.NC vs E.TN, I would lean towards E.TN even though I LOVE visiting W.NC from here in Atlanta. TN has no state income taxes, for one. E.TN is a lot more developed than W.NC. I have a very good friend who moved his business and young family to Knoxville 10 years ago from the upper Midwest and they have not only prospered, but loved every minute of it. So much in fact, his younger brother, a doctor, followed him there a few years later. W.NC are some of the poorest parts of NC. Ashville, however, has some of the most expensive housing rates in the state. You are more likely to have adverse weather (snow, flooding, etc) in the mountains of W.NC than the windward side in E.TN.

    Knoxville, Chattanooga, and parts between them are really quite nice with good job markets and youthful cities.

    Just my $.02
    Last edited by kung fu jesus; 01-11-2019 at 11:20 AM.

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  4. #3
    Individual-1 ☚☻☛ Agent☣Orange's Avatar
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    Re: Thinking of Moving

    Man, don’t know how to top all that!

    I agree with the part about taking it slow to buy a house up there. Look for hidden costs like flood insurance, home insurance, property tax rates and of course, auto insurance for the area you want to move to.

    Of course, you can buy time by renting first while a property management company like Coldwell Banker among many, can deal with your house here. I suspect because your house is a nice, single family dwelling, you’re apt to get a family living in it but they would want at least a year lease.

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    🛠 Tool wench 500+ kung fu jesus's Avatar
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    Re: Thinking of Moving

    The home we rented here in ATL for almost two years, it gave us plenty of time to look around, research, find a great value. Even with the recent issue we had with our home, I think we stole it for the area it is in, and we love how the extra time we took helped us do that.

    Please don't misunderstand me about NC. I loved both times I moved to NC, but we lived in Charlotte, moved to CA, moved back years later to Raleigh. W.NC is gorgeous, but I think E.TN has more stability.
    Last edited by kung fu jesus; 01-11-2019 at 11:53 AM.

  6. #5
    Original Gearhead pdexta's Avatar
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    Re: Thinking of Moving

    Thanks for the great input.

    You make some great points, renting for a while would greatly simplify the process. If it were just 2 mortgages, I think I could juggle it for the foreseeable future. In reality you have to make a decent down payment on the 2nd house, I'm potentially unemployed and still trying to find a job, and trying to make 2 mortgage payments. It's easy to see how you could get in trouble real quick. Your way would certainly take a lot of the risk out of it.

    On a positive note, I feel like our house should sell pretty quick and should free up some cash flow. We only owe around $60k on our house that should sell around $200k. I may even need to look at something like an extended stay motel just to give us options during the transition.

    We actually visited Asheville a few years back and loved it. That's where we started our search, but as you mentioned, home prices quickly changed that plan. A comparable 3br/2ba house in Asheville is around $100k higher than Knoxville. Chattanooga was high on our list as well and still in the conversation. Nashville (with the possibility of transferring there for work) was initially an option as well, but again the house prices scared us off.
    Scott
    2000 SE Miata ♦ 6sp, MS3X, GTX2860 @ 20psi, E85
    2005 Civic Hybrid ♦ 5sp

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    Re: Thinking of Moving

    If you’re only $60K away from ownership, I would keep renting it out for $1500-$2000 per month until you have the deed. That would be a valuable piece of equity you could use to retire on or use it to fund upgrades on your main home. Come to think of it, your daughter’s college tuition will probably cost $200K by then.

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    🛠 Tool wench 500+ kung fu jesus's Avatar
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    Re: Thinking of Moving

    Scott, I don't know if you have kids or their ages (I assume from your avatar you do), but I would try to visit the areas beforehand, just to try to get a feel. You can research the hell out of cities, but boots on the ground paints another picture. I visited the Chattanooga Aquarium last year...that whole area was intended for families and kids, very neat. There are some really interesting industries around Knoxville, a lot of federal government agencies too (energy, defense, etc).

    I'm more of a big city person, I decided. I've lived in various population densities, but I love variety. We loved Charlotte, and it was only 2-3 hours from Deals Gap, about 90 minutes from Boone. Moving from Los Angeles to Raleigh was a bit a shock to us, but as far as a city goes, Raleigh is really nice for families and has a burgeoning tech and pharma sector. It's 5 hours from Deal's Gap though, about 90 minutes from Wilmington, but I digress.

    I was familiar with each part of the country we moved to, where my wife wasn't. It can be a shift, but everyone has to be willing to make the change. My sister relocated to FL about 10 years ago. Her kids were getting to the point were they either had to make the move or wait until the kids were done with school and gone (the oldest was 11 or 12). i know there's a point in their lives were it's harder to adjust to new locations as they age. My sister is in child development/education in Orange County near Orlando, she had valid reasons for when and how they moved. Their kids still kept in contact with their friends in MI, but quickly adjusted to FL really well.

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    🛠 Tool wench 500+ kung fu jesus's Avatar
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    Re: Thinking of Moving

    My wife and I have discussed at length different scenarios for locations we consider. In one instance, we planned moving back to the west coast if an opportunity arose. My wife is well-vetted with her company and they have offices nationwide. It could take her a while to get a transfer. We discussed how to work that out if I were to take a job out there while she remained here until an opening for her came through. I would live efficiently, start my new job, scout locations and the real estate market. When her transfer came through, I would fly back, help pack the home, put the house for sale, move our stuff, put it in storage, look for a house, buy, etc.

    It's really helpful to talk these out, maybe write them down in a notebook. I usually do this with her while she drinks a little wine. It's a lot of moving parts, relocating like this, so this scenario exercise helps ease some anxieties, get a rough plan in place to define, and build excitement.

  11. #9
    Original Gearhead pdexta's Avatar
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    Re: Thinking of Moving

    Quote Originally Posted by Agent☣Orange View Post
    If you’re only $60K away from ownership, I would keep renting it out for $1500-$2000 per month until you have the deed. That would be a valuable piece of equity you could use to retire on or use it to fund upgrades on your main home. Come to think of it, your daughter’s college tuition will probably cost $200K by then.
    We've talked about possibly renting, but it seems like a huge potential headache, especially when you're 1000 miles away. A little income sounds great, but I don't know that we're prepared to deal with the potential consequences.

    Quote Originally Posted by kung fu jesus View Post
    Scott, I don't know if you have kids or their ages (I assume from your avatar you do), but I would try to visit the areas beforehand, just to try to get a feel. You can research the hell out of cities, but boots on the ground paints another picture. I visited the Chattanooga Aquarium last year...that whole area was intended for families and kids, very neat. There are some really interesting industries around Knoxville, a lot of federal government agencies too (energy, defense, etc).

    I'm more of a big city person, I decided. I've lived in various population densities, but I love variety. We loved Charlotte, and it was only 2-3 hours from Deals Gap, about 90 minutes from Boone. Moving from Los Angeles to Raleigh was a bit a shock to us, but as far as a city goes, Raleigh is really nice for families and has a burgeoning tech and pharma sector. It's 5 hours from Deal's Gap though, about 90 minutes from Wilmington, but I digress.

    I was familiar with each part of the country we moved to, where my wife wasn't. It can be a shift, but everyone has to be willing to make the change. My sister relocated to FL about 10 years ago. Her kids were getting to the point were they either had to make the move or wait until the kids were done with school and gone (the oldest was 11 or 12). i know there's a point in their lives were it's harder to adjust to new locations as they age. My sister is in child development/education in Orange County near Orlando, she had valid reasons for when and how they moved. Their kids still kept in contact with their friends in MI, but quickly adjusted to FL really well.
    Haha, we're thinking right along the same lines.

    My daughter is 4 and will be starting kindergarden next fall. If a move does happen we want to make sure she's as unaffected as possible and we intend to get it done before she starts school.

    I actually just booked a flight up to Nashville in 2 weeks. Freaking $46 round trip from Fort Myers! We're planning to rent a car and check out all the potential cities on our list.

    I also broke the "job first" then "house" theory to my wife. She hated the thought of moving twice, but I think it's going to be the only realistic way to make this happen.
    Scott
    2000 SE Miata ♦ 6sp, MS3X, GTX2860 @ 20psi, E85
    2005 Civic Hybrid ♦ 5sp

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  13. #10
    🛠 Tool wench 500+ kung fu jesus's Avatar
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    Re: Thinking of Moving

    When I think of cities to move to, my job searches are in radii of ~75 miles. Each city is a little different, traffic, taxation, commute, etc. If you're looking on your own, it's best to get a real apple-to-apples cost comparison between where you are and where you want to be. Online cost of living calculators are just 'ok' with that, but it takes due diligence beyond real estate pricing to get a feel.

    Very few companies offer door-to-door moving benefits, unless you are a rock star in your field. That's best-case, and I've been lucky to have that occur twice. Most often it's a budget and you wind up doing a lot of it yourself. It's stressful for everyone. Sometimes, if you propose a financial advantage for your next employer, you can capitalize on something they offer to negotiate a stress-reliever. For instance moving from NC to CA, my employer offered 90 days at a Residence Inn, including our dog. The dog added something like $60-75/day to the rate at the Residence Inn. My wife and I had been looking at townhomes to rent as soon as they offered me the position, so I proposed that they could take that money from the hotel and put it toward the deposit and 1st month rent on a townhome we found. It was about $2k difference and they jumped on it. So, when the movers arrived, we just signed off on that, took a nice, pleasant 5 day touring vacation to the west coast with our dog riding along and just had to pick up our keys to the townhome before the movers arrived there. THAT took a lot of stress off us, and having the rent set was even better.

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