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Tips for Moving to Another State While Starting a New Business

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Are you considering a move to another state? If so, you're not alone. According to the U.S. Census Bureau, over 27 million Americans relocated in 2021. While moving can be an exciting adventure, it can also be daunting — especially if you're starting a business in your new location. Here are some tips from MAE Capital Mortgage for a successful move.

Find Neighborhoods in Your New Location

When you're ready to look for a place to live, it's essential to do your research. Consider neighborhoods in your new location and what type of housing is available. If you're moving to Sacramento, CA, for instance, check out Historic Chinatown and Discovery Park. 

Secure a Job in Your New Location

Job hunting in a new city can be challenging, but there are a few things you can do to increase your chances of success. Start by researching the job market in your new location and identifying hiring companies. Update your resume and cover letter to reflect your qualifications and what you can offer potential employers.

If the move involves either relocating a business that you currently run or plans for launching a new venture, you’ll want to make sure that all your tech needs are covered, ideally before moving day. Using software that’s based in the cloud is your best-case scenario, as you’ll be able to access and use mission-critical apps on the fly. For example, you can get payroll services processed quickly with online payroll software that allows you to pay your employees on time and with direct deposit to avoid having to print checks. You can also rest assured that your tax liabilities stay in check, as such software calculates and pays payroll taxes automatically.

Know the Cost of Living in Your New Location

One of the most important factors to consider when moving to a new location is the cost of living. In Sacramento, the cost of living is relatively affordable. Sperling’s Best Places notes that the median home price is $435,600 and the median rent is $1,556 for a two-bedroom. The cost of groceries and utilities is also relatively low.

The area has many free or low-cost attractions, such as the historic “Old Sacramento” riverfront downtown area. Also, the warm weather makes it perfect for outdoor activities year-round, including at nearby Lake Tahoe.

Do you have children? Sacramento County has some excellent public schools and several private schools. Colleges include Sacramento State (California State University, Sacramento), the University of California, the Los Rios Community College District, and the University of the Pacific.

Purchase a Home in Your New Location

If you're planning on purchasing a home in your new location, it's essential to be aware of the different mortgages available. Talk to a local lender about your options, and compare interest rates. It's also good to get pre-approved for a loan before you start looking.

Adjust to Your New Location

Moving to a new location can be overwhelming, but there are a few things you can do to ease the transition. Make sure you're familiar with the area and have a good map of your new neighborhood. Get to know your neighbors and introduce yourself to the community. 

Start a Business Plan, Including Creating a Logo

If you're thinking about starting your own business, it's crucial to create a formal plan to have a road map for where you want to take your company. Your plan should include information on your target market, your product or service, how you'll reach your customers, financial projections, and funding. 

It should also have a marketing strategy, an important part of which is a stand-out logo that will help you create a memorable brand. Money is usually tight during the startup phase; fortunately, you can generate a logo online for free that will help you create a professional logo that pushes your messaging and identity in just a few straightforward steps.

With these items in place, a well-crafted business plan can give you a better chance of success as you start your new venture. 

Moving to Another State With Ease and Confidence

Moving to another state can be an exciting and challenging adventure. The right plan – which includes aspects like securing financing, using online payroll services, and drafting a business plan with a marketing strategy that should include creating a logo – can ensure everything comes together. For help finding financing for your dream home, contact MAE Capital Mortgage, where real estate meets mortgage!

MAE Capital Thanks  Suzie Wilson for authoring this article 

Posted by Gregg Mower on June 15th, 2022 9:38 AM

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