Planning a move is never easy; whether it’s across the country, or across town to a new home here in Ann Arbor, nobody enjoys the process of relocating. You’re in good company – it’s estimated that about 40 million people move annually in the United States. Excellent planning can make your next jump far easier – and less painful – than you might think. Whether it’s your first move into a home, or a final move to the condominium here you’ve always dreamed of retiring, there are abundant resources available to help you plan and execute your next move without undue stress.

Write it down! Regardless of the method you choose, you need documentation for each step of the moving process. If you know you’re moving, then you probably know when you’re moving – make that date your starting point. Plot your activities on a monthly, weekly and daily basis; there are free, downloadable, printable forms available online (click here for an example), or you can create your own.

Stay organized! Designate a specific area in your home as “Packing Central.” Keep all of your moving supplies – including your checklists – in this space. Although the rest of your home may feel utterly chaotic, Packing Central will be your haven of clarity. Items to have on hand in your “Packing Central” space should include:

• printed, organized checklists;
• plenty of pens and markers;
• labels;
• packing tape;
• bubble wrap and/or packing paper for breakable items and, last but not least,

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When you get the good news that your loan application for your Ann Arbor home has been approved, your thoughts turn to what you want to do to your new home before you move in. The appliances were a little old, so you decide you want to buy new stainless steel appliances. Home Depot is having a big sale, so you buy all of the appliances under their 90-days-same-as-cash program and schedule the delivery for the day after your closing. When your tax return arrives, you can pay off the bill. It seems like everything is falling into place. 
 
Hold the presses… thanks to a new rule from Fannie Mae that is effective June 1st, lenders must now pull an additional credit check just prior to closing to verify that the consumer has not added any additional debt. They must also verify the borrower’s Social Security Number and their plans to personally occupy the home. This “loan-quality initiative plan” requires the lender to make sure nothing has changed in the potential buyer’s ability to repay the loan.

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At the moment, you (and your parents) may still be celebrating your admission to the University of Michigan at Ann Arbor Medical School or a graduate or undergraduate program.  You are confident that you will be getting a great education while living in a pleasant, smaller town less than 30 minutes from the Detroit airport.  You know that soon, very soon, you will be pulling out your checkbook to reserve your place in the university and secure your housing arrangements. 

As you briefly scan the university website, you learn that the minimum room price for the 2010-2011 academic year is $5,032 for nine months or $5,885 for 12 months for a room with three occupants.  As a graduate student, your minimal housing cost will run $800 per month.  Given the number of reasonably priced condos in Ann Arbor, buying a condominium might be a viable option, especially if you are enrolled in a program that will run several years.

At this time, there are over 240 listings priced under $150,000 in the 90 complexes around the city.  Whether you want high rise styling, a townhome, a stacked ranch, or something in between, there are many exciting choices in Ann Arbor and the surrounding area.  Even if your plan is to sell the place in three or four years, you can realize tax advantages while gaining privacy and space.  If you are married and/or have children, you might also be concerned about having a place for the kids to play.  Some student housing apartments offer play areas, but there’s nothing like having your own space.

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Love and marriage, love and marriage, goes together like horse and carriage… you can’t have one, you can’t have none, you can’t have one  without the other… Frank Sinatra

 So went a popular song of the 50’s, sung by Frank Sinatra.  Not even Frankie always followed through at the time, but in 2010, young people starting out their lives certainly do not always follow the order of love, marriage, family, buy a home.  Some have the baby or buy the home long before the legalities, while singles, single parents, siblings or multiple generations with a family, life partners, and roommates pursue homeownership as well as “traditional couples.”  While social mores may change, real estate law is not so flexible.  In most states, there are legal guidelines to determine what happens to property when one of the co-owners dies – or if the relationship does – when the parties are married, but not otherwise.  In any case, if breaking up is hard to do, breaking down the assets is even harder.

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