How to change folder location of Google Drive on Windows?

Many of the times we after installing Google Drive, we realize that we want to change the folder location where Google Drive syncs it's documents. It's not very straight forward to change the location. We have to disconnect Google Drive and then login again to change folder location.

1. Disconnect account.
2. Delete or rename the existing "Google Drive" folder.
3. Click the drive icon and select sign in.
4. After sign in, it will show a first-time tutorial. Click 'Next' through them all, but DO NOT click 'Done' on the last.
5. There will be a button on the last page called "Sync Options". In here, there is the option to point to a different location.