Don't go lightly into relocation

Relocation to another city or town always needs careful consideration - and more so in a slower property market.

So says Berry Everitt, MD of the Chas Everitt International property group, who notes that there are, of course, always reasons for some people to relocate, the most common being a new job or a corporate transfer, or a planned change of lifestyle such as retirement.

"But now is not the time to relocate impulsively, just for the sake of it. Apart from being costly, relocation always brings sacrifices and compromises.

"People considering a move to make a fresh start or to be closer to family support structures, for example, should weigh their reasons against possible career setbacks if they can't find the right kind of job in their new hometown."

Writing in the Property Signposts newsletter, he says that if you do decide to relocate, whether because of a job offer or personal circumstances, you should ensure that the area you choose will fit the lifestyle you and your family want - and that any property you buy is likely to show future growth.

"In the current slower market homebuyers will at least have a wider selection of properties to choose from, thanks to the fact that supply of residential units currently outstrips demand. But there is a definite downside to this situation if they first have to sell an existing property."

And, says Everitt, finding the "right" property in a new town can be a daunting task, especially if one is unfamiliar with the local real estate scene, so you should first contact a seasoned local estate agent who can match your needs to suitable areas and help you narrow down the list of homes to look at.

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