Buying A Home
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Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Talk to me about relocating?
DH and I are looking ahead a year and I think the unanimous decision is to get the heck out of So Cal. What will be a 15%dp here could easily be MUCH more in other parts of the country, and we're not really tied to here.
I have no idea about relocating, though. For the first year we would probably rent. But tell me something--if we relocate and DH gets a new job wherever we move to, how long do you have to be employed before you can be approved for buying a home?
DH would like to buy immediately when moving... which we may be able to do if we have cash to pay 100%. But if we have enough for, like, 50% down and have plenty in savings do they loosen how strict they are with employment history?
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Re: Talk to me about relocating?
One of the best things to reduce stress in a relocation is to have at least one if not both of your jobs secured before you move.
Meaning that, you may have travel expenses between So Cal and elsewhere for interviews, etc.
I think renting for 6 - 12 months is ideal if you're moving to a new place. It's so hard to truly know a town or a neighborhood for home buying until you've lived in the vicinity and formed your own opinion (you can get others' opinions, but you may feel differently upon living there).
If your companies/organizations have offices in other states, those can be great places to begin yoru job searches.
In regards to lending...great credit, sizeable down payment, longevity in a field/industry are all important. Lenders understand relocation pretty easily. It happens to so many people. But, renting for a time will help lessen any questions they may have.
Thanks for the replies! I do believe that we'd be renting for a year before buying, because I wouldn't want to choose an area we didn't love.
We'd definitely secure jobs before moving (although I can do mine from anywhere). What is nice is that the bulk of DH's experience is in a college/university setting and those are all over the place. He also worked for the state for a few years. We do know when interviewing/job hunting we will need to pay for travel. We're OK with that!
I would suggest moving somewhere and "settling in" for 6 months before even looking at homes. Take that time to get used to the new neighborhood, new job(s), meeting people in the area, etc. so you don't feel too overwhelmed.