If you own a home now and are moving to a new city, you may figure you'll just buy another home in the new city once you move. Renting again may feel like a step backward since you're already a homeowner; however, this is not necessarily the case. When you move to a new city, renting for six months or a year before buying is often the better choice. Here's why:
1. You can back out more easily.
What happens if you move to the new city and soon after learn that you hate it there or that the job you moved for is not what you thought it would be? If you just bought a house, you'll have to sell it before moving again, which can be a huge hassle. If you rent at first, you can more easily back out if you're unhappy in the new place. While you may have a lease, breaking a lease is easier than selling a home, and there are usually options to sublet if you really can't get out of the lease.
2. You can get to know the neighborhoods.
Visiting a place is different from living there. You may drive through a neighborhood and think "that's nice, I'll buy a house here" without realizing there are better options. Once you've lived in a place for six months or a year, you get to know it better and can make a more informed decision when deciding exactly where you would like to buy a home. You won't get stuck living in a neighborhood that does not suit you simply because you jumped the gun and bought a home there.
3. You'll have fewer responsibilities.
The first few months in a new location can be really busy! You're settling into a new job, making friends, and learning your way around. With home rentals, you won't have to worry about things like mowing the lawn or making home repairs, which can be really nice when you're focused on settling in. Once you are more settled and adapted to the area, you can buy a house and dedicate more time to homeowner activities.
4. You don't have to spend as much time looking.
Yes, finding the right rental takes time -- but it does not take as much time as finding a house. The stakes are not so high since you'll only be living there for a year or less. As such, it is easier to manage finding a rental, time-wise, than it is to find a home to buy when you're already working on selling your current home and planning a move.
There's no rush to buy a home just because you're moving! Rent first, settle in, and then worry about finding your next long-term residence.Share
29 June 2019
I have always been someone who is passionate about making the world around me more beautiful, which is probably why I was drawn to real estate initially. I really wanted to create a place where me and my family could spend a lot of time together in a peaceful, relaxing place, so I started looking for places in my area that were fit for the job. Within a few months, I was able to find an incredible property that was within my price range, so I purchased it as soon as possible. This blog is all about choosing beautiful real estate.