Moving long distances is a huge undertaking, and if you are a landowner, there are several factors you need to consider that go beyond the typical moving logistics. Whether you are selling your property, renting it out, or keeping it as an investment, managing your land during a move to another state or even across the country can be a daunting task. In this blog, we will walk you through some essential tips for landowners who are planning a long-distance move.
1. Start Early and Plan Ahead
Moving long distances requires extra time and effort. As a landowner, you must account for the various responsibilities you have toward your property. Begin planning several months before your moving date to give yourself enough time to handle these tasks.
If you’re selling your home, start preparing it for sale well in advance. Make any necessary repairs or improvements that can increase its value. For example, small upgrades like painting the walls or fixing broken appliances can make a big difference when attracting potential buyers. If you’re renting the property, you’ll want to find reliable tenants, and this process can take time as well.
2. Decide What to Do with Your Property
Before you move, it’s important to decide what to do with your current property. There are a few options available to you, and each comes with its own set of challenges:
Sell Your Property
Selling your property is a common choice when moving long-distance. It’s an excellent way to eliminate the responsibility of managing the property from afar. However, selling a home or land involves multiple steps, including finding a good real estate agent, setting a fair price, staging the property, and negotiating with buyers. You may also have to wait for the right buyer to come along, which can add time to your moving plans.
Rent Your Property
If you’re not ready to sell, renting out your property is another option. Renting it can provide a steady income stream, which could help offset some of your moving costs. However, renting comes with its own responsibilities, like dealing with tenants, maintaining the property, and making sure rent payments are collected on time.
If you plan on renting, consider hiring a property manager to handle the day-to-day tasks for you. A property manager can take care of everything from marketing the property to conducting repairs and dealing with tenant issues. This can make managing your property remotely much easier.
Keep the Property as an Investment
Another option is to keep the property as an investment. You may choose to leave it vacant and let it appreciate in value over time. This works well if you’re moving long-term but want to hold onto the property for the future. Be mindful of property taxes, insurance, and maintenance costs, which you’ll still need to manage even if you’re not living there.
3. Understand the Tax Implications
When you move long-distance, especially across state lines, there are tax implications that you need to be aware of. Here are a few key considerations:
Capital Gains Tax
If you sell your property, you might be subject to capital gains tax on any profit you make from the sale. However, if the property was your primary residence, and you’ve lived in it for at least two of the last five years, you may be eligible for an exclusion. This can reduce the amount of tax you owe on the sale of your home.
State Taxes
Different states have different tax laws, so you may be subject to new property tax rates, income taxes, and other regulations when you move. Make sure to research the tax laws of your new state to understand how your move will affect your finances. It may also be worth consulting a tax professional to ensure you’re fully compliant with state tax laws.
4. Secure Your Property
While you’re moving long-distance, it’s important to secure your property to avoid any issues with theft or damage. Whether you’re selling, renting, or leaving the property vacant, securing it should be a top priority. Here are some ways to do this:
Install Security Systems
Consider installing a home security system, which can include cameras, motion detectors, and alarms. Modern security systems allow you to monitor your property remotely through your smartphone, so you can always check in to see if everything is okay. This is especially important if you’re renting the property or leaving it vacant for an extended period.
Maintenance and Upkeep
If you’re not renting your property, you’ll still need to ensure it’s properly maintained, especially if you plan to return at a later time. It’s a good idea to hire someone locally to perform regular maintenance, such as checking the roof, fixing leaks, and maintaining the lawn. If you’re renting, the tenant may be responsible for some of these tasks, but it’s still important to stay in touch to make sure everything is running smoothly.
5. Dealing with Utilities and Services
When moving long-distance, don’t forget to take care of utilities and services at both your current property and your new location. This includes things like water, electricity, gas, internet, and trash collection.
Disconnect Utilities at Your Current Property
Before you move, make sure you contact utility providers to disconnect or transfer your services. If you’re renting the property, you’ll need to transfer the utility accounts to the new tenants. Set up a final meter reading to ensure you’re only billed for your usage before the move-out date.
Set Up Utilities at Your New Location
At your new home, make sure to set up your utilities in advance. This includes scheduling your electricity, water, and gas service to be turned on before your arrival. You don’t want to move into a new home and have to wait for days to get access to basic services.
6. Hire Professionals for Moving and Packing
Long-distance moves involve a lot of packing and logistics, so hiring professionals can save you time and stress. Professional movers are experienced in handling long-distance relocations and can help pack your items safely, load them onto the truck, and transport them to your new home.
If you’re moving from a larger home or have many valuable or fragile items, it’s a good idea to hire experienced movers in Oklahoma City who are familiar with long-distance moves. You can also consider using moving containers, which allow you to load your items and have them shipped to your new location.
Looking for reliable moving services? Call us at (405) 252-1155 and let us handle the heavy lifting for you.
7. Update Your Address and Records
One of the most important tasks when moving is to update your address. Notify the post office, your bank, credit card companies, and any other important institutions of your change of address. This ensures that your mail and important documents reach you at your new home.
You should also update your voter registration, car registration, and driver’s license with your new address to avoid any legal complications.
8. Be Prepared for the Emotional Impact of a Long-Distance Move
Finally, don’t underestimate the emotional impact of a long-distance move. Leaving behind a property where you’ve created memories can be difficult, and moving to a new place can feel overwhelming. Take time to acknowledge your feelings and reach out to friends, family, or support groups to help you navigate the transition.
Moving long distances as a landowner requires careful thought and planning. Whether you decide to sell, rent, or keep your property as an investment, you must consider the financial, legal, and emotional aspects of the move. Start planning early, secure your property, and ensure that all logistics—such as utilities, taxes, and property management—are taken care of before you leave. By taking the right steps, you can make your long-distance move as smooth and stress-free as possible while still maintaining control over your property.
Ready to make your long-distance move stress-free? Call City Moving & Storage at (405) 252-1155 for a free moving quote now!