Standard residential phone lines are of a 4-wire or 6-wire configuration, depending on the equipment the line is designed for. Moving a telephone socket, commonly referred to as a telephone jack, is a straightforward procedure. Telephone cable is comprised of either solid or striped, color coded-wires — or a combination of both. The telephone jack also has terminals that are clearly marked with the same color codes to remove the guesswork, facilitating quick connections.
Remove the cover from the jack with a screwdriver. Disconnect the color-coded wires from the inside of the jack with a screwdriver. Cut the brass terminals from the ends of the wire with the pliers.
Pull the wire from the old location, from below the floor or the outside of the wall, with your hands. Run a new length of wire from the end of existing wire to and through the hole at the location for the new jack.
Drill pilot holes for the mounting screws for the jack baseplate at the phone jack's new location. Install the baseplate with the screwdriver.
Staple the new wire to the ceiling of the basement or the exterior wall with a staple gun. Locate the wire where it will be out of the way and safe from being tripped over, cut or broken.