5 things to consider when moving from the city to the suburbs.

You’ve come to a decision – you need more space, better schools, are tired of fast-paced city life, or just feel a change of scene is needed. You’re ready to swap the conveniences of urban life for the suburbs and a yard to mow. But before you pack up and go, here are some important things to consider.

1. The commute

If you’re going to be living farther away from your workplace, will you need to factor additional commuting time into your working day? Will you need to budget for increased train fares or even buy a car? It’s important to be aware of the potential extra costs you may incur during your journey to and from work, and budget accordingly. Weigh the costs and make sure your new commute is feasible.

2. Your budget

Whether you’re planning to move to a bigger apartment or condo or a house, make sure to calculate exactly what you can afford, both from a mortgage and downpayment perspective, while taking into consideration other costs such as realtor and legal fees. It’s also important to make a list of items you’ll potentially need to purchase. Will you need extra furniture or new appliances such as a washer and dryer? If you already have a lot of furniture in your current home, make sure you’ve considered the costs to transport these: maybe you’ll need to rent a truck or hire a moving company.

3. The community

It can be difficult to forge connections in today’s fast-paced and digital world, and even more so in a new location where you don’t have an established social network. Before you commit to a move, take the time to research the area. Before making a final decision, spend a few days there to gauge the vibe and sample local restaurants, cafes, and stores. Social media community groups are great way to check out what’s happening in the neighborhood, including what local activities, clubs, and social events may be on offer to help you meet people in your new area.

4. Space to roam

Recent studies estimate that 100 million people in the U.S. don’t have easy access to parks, despite research indicating that just two hours a week spent in nature can increase health and well-being.¹ Another benefit of open green spaces is that they tend to draw people outside and help to foster social interactions.² So, if this is high up on your criteria, use a property search engine to filter properties that are a short walk from green space.

5. Tax implications

Typically, moving outside big-city limits means you can avoid paying higher income tax. For example, New York State has nine income tax rates; residents of Manhattan or Brooklyn, for example, are taxed higher than those of Westchester or Albany Counties. What’s more, city-dwellers may have to pay more local taxes in addition to their state-level tax. If you’re moving out of state, research the tax requirements of where you will be moving to. For example, Florida and Texas do not have state income tax requirements for residents. Ensure you have budgeted for increased (or decreased) state income tax contributions alongside your federal tax requirements.

Before rushing into your big move, make sure you’re clear on what your aspirations are for your new life in the suburbs. Take stock, make a budget, and create a financial strategy to make your new suburban home a reality.