Considering moving out of state? Nationwide, the numbers of people moving are down but Colorado is still seeing a net increase in migration patterns.
According to the US Census, in 2021, 8.4 percent of people lived in a different residence than a year ago, down from 9.3 percent in 2020.
But in Colorado, we are still seeing more inbound people moving into the state (52 percent) compared to outbound residents (48 percent).
Still, the people who are moving out of state are typically taking advantage of better jobs, lower cost of living/housing opportunities or wanting to be closer to family.
In Colorado, according to Forbes Magazine, overall, 12,145 families left the Centennial State last year. The high cost of living and out-of-reach real estate prices continue to drive would-be homebuyers out of the area, while traffic congestion, crime rates and pollution have also been a factor.
Regardless of your reasons, it’s important to be prepared for your upcoming move out of state. Employing broker Jenny Usaj answers some common questions when it comes time to sell your home and move, and other things to consider when moving out of state.
What can I do to increase the value of my house before moving?
Listen to your realtor about some of the tips and tricks to make your home look and feel newer, cleaner and large. If you have the budget, work with a home stager. These professionals can transform your home by eliminating excess furniture, sprucing up the surrounding with a fresh look and adding color to appeal to buyers. Also, consider a home pre-inspection to identify repairs that should be done prior to listing your home. Home buyers are willing to pay the asking price but only when the home is in tip-top condition.
Can I sell my house and stay in it awhile before I close on my new property out of state?
Yes, this is possible when you don’t have an exact timeline for moving. Sometimes, buyers will allow you to stay in the home for up to 60 days. That’s assuming there is financing involved. If it’s a cash deal, you may be able to stay longer. But be prepared to pay rent during this time.
What if I want to move out earlier or later than what was agreed upon?
This may be possible. It will come down to negotiation and agreeing to what will work for both parties. If the timeline changes, it will have to be a conversation you have with the buyer. If it’s earlier, most buyers won’t mind because they are probably anxious to get into their new home. If it’s later, that might get a little sticky.
When is the best time to travel to my new state to look for homes?
The weekend your home is placed on the market is a good time to be away. Hopefully, showings have been scheduled or there is an open house. You’ll have already cleaned and organized everything so there is no need to be there. Depending on the location and price range, your home will hopefully get an offer after a few weekends on the market and you’ll be under contract. At that point, you’ll be able to make an offer on a home in your new city. Be aware of any contingencies in the contract that may affect your buying and moving timeline. You’ll want to make sure that the selling of your home is further along or, at the least, in line with the buying on your new home.
Can I work with you in Denver on the sale of my home and a local realtor in my new state?
Yes, you can have two realtors. However, you cannot have two different realtors in the same market. It’s a good idea to introduce your brokers so they can coordinate timelines.
Any other tips and tricks for people selling their home and moving out of state?
Make sure you are on top of the logistics. Being able to move anywhere in the country is a gift. It’s exciting to be able to live where you want, but there are quite a few logistics to be aware of when selling your current home, the timeline of buying a new home and the moving process. There are many things to consider when moving out of state, and at Usaj Realty, we are ready to help. We have the knowledge and experience to help get you to the next chapter of your life.