Moving to your second home in a new state – There are many advantages to living in two different states. One of the main reasons is that you can live in a state with a lower cost of living and work in a state with a higher cost of living.
Tax rates are also different between the two states. You may be able to save money by paying taxes where there is no income tax or property tax, which can help you financially.
Or you might want the luxury of living in different states to avoid extreme weather conditions. Whatever the reason, there are certainly quite a few things to consider when deciding where and how to own a multi-state home.
take the step
The first step to becoming a multi-state owner is to identify which state you want to spend the most time in. This will be your primary residence and where you will spend most of your time. Or you can split your time equally between the two. If you do, you can register your cars, get your auto insurance policy, and even in-state health insurance with cheaper options.
Rather than paying for cable for two homes, choose cable streaming options. This ensures that you can watch what you want wherever you are.
The housing market is very different in each state. The cost of living, median income, and job availability can all change from state to state. If you’re considering an interstate move, make sure you understand how your new location will affect your budget and what you can expect in terms of cost of living.
Moving with your pet
If you’re moving with your pet, start early, helping them deal with the stress of the move. Some experts advise placing empty boxes around the house early so they get used to seeing them and don’t get anxious when the real move begins.
Make sure your pet is microchipped, as the risk of it going missing is greatly increased when moving house. Look for pet insurance, as the risk of illness or injury also increases when moving.
You will want to check with the landlord or homeowners association before committing to a house or apartment. If your animal is a service or therapy animal, get the necessary paperwork before you move to avoid any last-minute hassles.
“Build a safe space in your old house, then set up a similar safe space with those same items in your new house. This gives your pet something familiar and comforting that is consistent between the two places, such as a quiet, secluded sleeping area, water, comforting toys, and a piece of your clothing. – Tampa Buyers Agent Council
Cost varies by state
When budgeting for your new multi-state lifestyle, there are a lot more steps than when budgeting for a single-state home status.
If you’re considering renting storage space, use a search tool to find which of the two states your homes are in will cost you less. For example, the trick to finding storage in Las Vegas is to use a website that lets you enter the zip code you’re looking for to give you multiple locations and pricing options to choose from.
Housing prices can be very different depending on the state you are in. The average three-bedroom, two-bathroom home in Florida costs $367,000, while in Oklahoma that home costs an average of $196,000.
The average annual auto insurance premium in Michigan is $2,497, while in Maine the cost is $589 per year.
California, Hawaii and Washington, DC are the most expensive for veterinary care, averaging over $1,400 per year, while North Dakota and Arkansas have much lower costs, averaging of $769 per year.
Checking prices for things like housing, storage units, insurance, and vet care when creating your budget ensures you won’t have any surprises after you’ve already moved. And don’t forget to spend time preparing your pet for the move so you can all enjoy a stress-free life in your new second home.