We’re a moving company. Of course, you’re probably thinking, we’re going to recommend that you move. Right now! Maybe even every year!
But seriously. Moving is hard work. It’s a disruptive, complicated task that people don’t undertake and we don’t recommend lightly. Some times are more “right” than others for packing our belongings and hitting the road.
That being said, right now, as we enter our third year of COVID, you—and many others—may have some very sound reasons for moving. Does moving make sense—or is it even and imperative—for you? Let’s take a look at some current trends in the financial and real estate markets, as well as some lifestyle considerations, to help you decide whether relocating is a smart choice for you—and, of course—and how to make any move you plan run more smoothly.
COVID-19 Changed the Real Estate Landscape
The pandemic sent shock waves through global financial markets. Not to get into the weeds about how it happened, but mortgage interest rates sunk to near-historic levels due to changes in the bond market and actions by the Federal Reserve Bank designed to provide economic relief. That inspired a lot of people to purchase new homes.
But at the same time, with many people sheltering in place, the pandemic also caused an unprecedented shortage of homes on the market. That sent home values skyrocketing, with many homeowners gaining instant equity in their homes.
Home values are still high and, while mortgage interest rates are inching higher, they are still much lower than they have been in decades. But experts predict that the real estate market will undergo a correction. Home prices will decrease and interest rates will increase, both of which factors will have a cooling effect on today’s sizzling market.
Are you one of many homeowners sitting on top of a newly minted gold mine? Now may be the perfect time to cash out. But it may not be the perfect time for much longer. Many buyers are anxious to close deals while mortgage rates are still low. If you sell your home, you may need to move quickly. Finding the right moving company to help you respond to the financial opportunity in front of you is paramount to taking advantage of market conditions.
You May Want to Move Twice
Many savvy homeowners are looking at their options and trying to figure out how to reap the greatest value under today’s unique financial circumstances. Selling high and buying low is a sensible and proven financial strategy. But nowadays, with home prices so inflated, buying low is an unlikely option. So while many homeowners are deciding to sell, they’re not buying right away. Instead, they’re choosing to rent for a while until home prices fall again. They’re moving, sometimes downsizing to a smaller home than they’re selling, and planning to move again after the market corrects itself. Under these circumstances, having a reliable moving partner—one who can not only get them where they’re going, but also help them with long-term storage solutions and move them again when they decide to buy—is all the more critical. Relationships matter, particularly under stressful times, and working consistently with one mover can smooth over many of the challenges a “double move” represents.
Career Considerations: Moving Scenario Number One
The global pandemic has also had a profound effect on the labor market. Many employees found themselves working remotely for the first time in their lives. It didn’t matter where they lived or traveled—they could get the job done from anywhere. Some stayed in place, nearby their places of business, but others took advantage of their newfound professional mobility to move far away from headquarters and large cities where coronavirus infection rates were high. Some decamped to their vacation home. Others chose to buy the home they always wanted. Remote work was the new norm and they anticipated it would last forever.
But since the approval of COVID-19 vaccines and boosters, many companies are cautiously bringing workers back to their physical headquarters. If you’re an employee who chose to pull up stakes and are now being called back to the office, you may be facing a choice. Move back within commuting distance of your job, or find a new one. The call to return to the office can come at any time. The right moving partner can help you answer it and fulfill your professional obligations.
Career Considerations: Moving Scenario Number Two
Employers have discovered the upside of remote work. They’ve seen the productivity gains that accompany having a work-from-home staff. They’ve discovered that remote employees, who spend less time commuting, spend more time at their desks. Remote workers are better able to juggle professional and familial responsibilities—and they’re less stressed and more content as a result. Employers are reaping the financial benefits of downsizing and some have decided to close their physical locations entirely because they’re saving big money on overhead. Now, with their remote operations humming along nicely, many employers have determined that the “new normal” of having employees work from home is highly cost-effective. They’re viewing remote work as a permanent money-saving solution.
Many employees now find themselves in the enviable position of being able to move anywhere, whether they keep their current jobs or look for another one that’s thousands of miles away. Are you one of them? Now might be the time to follow your dream of living in an urban, cultural mecca or a tiny town where everybody knows your name. With interest rates so low and home prices so high, some people have calculated the costs of refinancing their mortgages and find they can use their home equity to purchase the getaway cabin they never thought they could afford. Do you find yourself in the middle of that perfect storm? Keep on Moving can help estimate the true cost of moving before you make such a momentous decision.
In the End, It’s Personal
Only you can decide whether family, career, or health matters make now the right time to move. But personal decisions call for a personal touch. Keep on Moving is a family-owned and operated company that will give any move you make, whether across town or across the country, the careful attention it deserves. At a time when all of us are facing a whole raft of new variables, there’s one thing you can count on. Keep on Moving will give your family, your belongings, and your entire move the individualized attention they deserve.