With the recession looming and companies downsizing, people are moving out of their rental homes and apartments and moving in with relatives. This is causing landlords to scramble to fill those vacancies. According to BusinessWeek, large metro cities are experiencing rent drops and landlords try to get new renters. They have provided a list of cities where the rent has declined. So if you have a stable job and want to move to a larger area, this may be your best chance. I have included the list in the links below, so check it out to see the actual statistics for each area. Digg.com posted a list of The Top 21 Cities where rent is cheap, I have included that below also. Yahoo finance also posted a report of cities with thigh vacancy spikes, also listed in the links box.
As with any big decision, it should be well thought out and well researched. And preferably planned several weeks to a couple months in advance. The best way to do this is to look up rental sites like Rent.com for the average rental prices in the area you plan on moving to. Check 2-3 sites to get the average rent price. Some of them are offering a rebate if you sign up on the site and end up renting one of the apartments listed, you get $100.00 check. Not a bad bonus!
Analysts say that we are experiencing the first rent decrease in the past five years. Before that housing prices were on the rise as more and more homes were being built
Check out the job listings in that city as well. If you already have a stable job, check with your employer about a transfer. They can check to see if there are any openings available where you want to go. Careerbuilder.com and Jobing.com are a couple of good sites to check. And there are many others including Monster.com and Yahoo Jobs.com.
Look up the city’s “Chamber of Commerce “site for more pertinent information including schools, transportation and services. They will have links to follow for more information. There are online forums where people who are moving or have recently moved to new city give information to others. You can find these by doing a Google search for information about_xxx_city. Just pose it in question form and you should get back some good results. You may find your answers in the forum ,or you may ask to post a question to one of the members for more detailed information. Most of the time people are glad to help if they can.
Do a complete and thorough search for any valuable information, or just anything that is important in helping you make your decision. You want to be well informed and confident that you are making a good choice, usually during this process red flags or warning signs may appear that would tell you if it might be a mistake to move to that particular city or maybe just a bad time to move. Listen to your intuition.
Make a list of all the important issues about moving. That way you can be sure to check everything without worrying if you missed .