If you happen to work online, or you have a profession with multiple relocation opportunities, you might be able to pick a state where you will buy a home.

There could be a few states you’re interested in moving to. Which should you pick? Here are some things to think about.

1. Consider housing costs and overall cost of living. A good thing to think about first is costs. The average home value nationwide at the time of this writing according to Zillow is $368,697. In some states, however, it is quite a bit lower. To give you an example, the average home value in Indiana right now is $260,095. It may be worth it to move to a state which has affordable home prices, as it can save you a ton of money. In many cases, it is what brings homeownership in reach at all. Don’t forget to also check into property taxes, homeowner’s insurance rates, and other costs of living (utilities, food, transportation, medical, etc.).
2. Assess the job market. The next important consideration is the local job market. You hopefully will be able to work online for a long time to come. But there is always the possibility that you will need an in-person job someday. It may not even be permanent, but it could tide you over if you are ever having a hard time finding a new online job. Check whether the state you are thinking of moving to has a thriving job market for people in your industry or profession relative to other states. Think about buying a home within driving distance of a city or at least a large town if you want to live in the countryside.
3. Consider your stage of life and future plans. Where are you at in your life? Are you at the start of your career or the middle? Are you retired or retiring? Do you have a family, or are you planning to have one? These answers not only impact your home choice, but also which state makes the most sense for you. Florida, for instance, is an especially popular state to retire in. If you have kids or might have them in the future, check out school districts where you are thinking of moving. Make sure the public schools or private schools are up to your standards if you don’t plan to homeschool.
4. Pick an area you genuinely like. One more consideration which doesn’t get enough discussion or attention is quality of life. If you actually have the ability to choose from multiple states, you can look beyond purely practical considerations.  You can move to a state you enjoy. How important this is depends on the individual. Some people can be satisfied wherever they end up. Others are only truly happy if they are in a place that they love. This may be less of a consideration when you’re younger, and have plenty of time to relocate again later. As you get older, especially in retirement age, it may matter far more to you to choose a place you’d be glad to stay permanently.

Buy a Home in Illinois or Beyond

MidAmerica Bancorp can help you apply for a mortgage in the Chicagoland area or throughout Illinois. We also work with homebuyers and homeowners in FL, IN, MI, TN and WI. To get started, please give us a call at (708) 237-4052 to schedule your mortgage consultation. We look forward to helping you buy your dream home, whichever of these states you choose.