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Relocating to Rehoboth Beach can be an invigorating fresh start: an opening to unexplored opportunities and a brand new community filled with tomorrow’s life-long friends. Then again, faced with a sudden onslaught of details and decisions, it can be an experience that falls just short of overwhelming. Every year, 43,000,000 Americans move to a new home, yet the Employee Relocation Council says that moving is the third most stressful event in a person’s life.
If you are relocating to Sussex County anytime soon, there is much that you can do to ensure the more positive outcome. Whether you will move for professional reasons or just to take advantage of the lifestyle the region offers, you will cut down on anxiety when you take positive steps to orient yourself ahead of time.
If at all possible, make a few excursions to Rehoboth Beach well in advance of your move. Make them mini-vacations: when you check into a local hotel or motel for a few days with no pressing agenda, you’ll be free to learn a lot about your new town, discover some of what will become your new favorite place, and just plain get familiar with what is where (and how to get there). Later, when you’re in the midst of relocating to Sussex County, there won’t be any free time for that kind of leisurely investigation.
Be sure to visit our Rehoboth Beach Chamber of Commerce early during your first stay. You’ll find loads of resources to help you familiarize yourself with the whole region. From welcome packets that include coupons and a list of things to do, to specific question-answering advice and help, the C of C is a great free resource for future residents.
Even further in advance, once relocating to Rehoboth Beach looks likely, whether you plan to buy or lease, get in touch with a Rehoboth Beach Realtor®. There is no better source for insider guidance on schools, which neighborhoods are the best for your needs, and invaluable help in finding and landing your new residence.
Advance planning will make relocating to Rehoboth Beach a positive and efficient experience— and it’s my business to help that happen for my clients. Contemplating relocating to Sussex County? Call/text 302-228-7871or email me, Russell Stucki, REALTOR ® of Beach Real Estate Market to provide detailed information on Delaware homes for sale, investment and commercial properties, luxury and waterfront homes, condos/townhomes, new construction, lots and land, farms and equestrian properties located in but not limited to Bethany, Bethel, Bridgeville, Dagsboro, Delmar, Ellendale, Fenwick Island, Frankford, Georgetown, Greenwood, Harbeson, Laurel, Lewes, Lincoln, Milford, Millsboro, Millville, Milton, Ocean View, Rehoboth Beach, Seaford, Selbyville, Delaware.
For Sussex County renters who are beginning to investigate the possibility of buying a first house, the prospect can look like more than just a steep hill to climb—it can look more like a cliff! Just last month, the Daily Real Estate News cited recent research that indicates in most places (512 counties surveyed, in fact) it can take the average family more than twelve years to save up for a 20% down payment. When you consider the significant financial advantage that a first house brings its Sussex County owner, the situation seems like a Catch-22. How can you save any faster when that big tax advantage goes only to the existing homeowners?
If a decade-plus wait sounds unreasonable, there’s a lot you can do to trim the delay—
1) (Obvious) Cut excess spending
If you take notes for a month or so about how you really spend your money, you find that the little things really add up: morning coffee, daily lunches, planned and unplanned shopping expeditions all put serious dents in your wallet. Spot the expenditures, you can cut back on, then reduce or eliminate them as soon as possible.
2) (Less Obvious) Create a ‘First House’ account
Create a separate savings account with the single purpose of holding your first house down payment. Watching it grow month by month will more than make up for the inconveniences caused by scrimping on daily and other spending.
3) (Way Less Obvious) Pick up extra work
You may never have considered it, but sometimes moonlighting is a great way to add additional income that quickly build your First House account. If you have a hobby that lends itself to web sales, think of starting a store on sites like Etsy or Amazon.
4) Reduce your current bills
There are those bills that you can't quite get rid of -- cell phone, credit cards and other bills don't just go away because you're saving for a new Sussex County house. For some bills, though, there are options for slimming down your monthly payments. Try negotiating a lower APR or reducing your phone or cable plan.
5) Make (and stick to) a budget
Those notes you made up there on 1) can be the raw material for making a detailed budget that separates necessary expenditures from extras like gifts, trips and special nights out. Find creative ways to entertain yourself and get together with your friends. Hosting movie nights, finding free concerts, and moving cocktail hour to home are all surprisingly doable.
It may seem counterintuitive: why would you decrease the size of your current digs? If you can temporarily scale back, the lowered rent can materially boost your savings. If it’s at all practical, living with relatives might move the process along even more quickly!
The kind of scaling back that builds for a local first house down payment is a lot more fun if you can see quick progress. And the possibility of qualifying for a smaller than 20% down payment is also currently increasing. Give me a call for a realistic discussion of your own Sussex County first house purchase!