Buying A Home
Princess_Lily
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What is the best plan when moving out of state?
What is the best plan when moving out of state?
We have a location we could rent in the interim while we are trying to find our forever home (in another state - which is much much closer to family)
I have heard to (once your house sells, and an emergency fund is in place) to set a "move date" and then a month prior to the actual move, send out job apps to companies.
We have a substantial emergency fund, if by chance we cannot find a job for a month or more. I know ideally, its better to find something first.
Keep in mind your current company refuses time off.
WWYD?
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Re: What is the best plan when moving out of state?
If it were me, I would have to have a job in place before I signed a contract on a rental property. I wouldn't feel comfortable moving that far and leaving a stable job without knowing what I'm going to do.
There wouldn't be a contract though, due to it being a family owned property. It would be short term housing until we have a job & our own home in place.
I still would want to know where my income was going to come from to pay for the rental or any other place that I'm living. You said you had a substantial e-fund, but those can dwindle down quick if there's nothing coming in to replace it.
I wouldn't feel comfortable with it. That's just my opinon.
I totally understand. Thats why I'm just getting feelers out...is this type of decision subjective in nature though? For example, what one family is comfortable with, may not be what another would be comfortable with? Like a car purchase?
Just curious, since this would be our first BIG major decision as a family unit.
This is how I took it.
If using this logic, any decision someone makes is subjective. I would not suggest someone purchase a car without having a job either, no matter how comfortable they are.
I understand you want to move closer to family, but why not actively look for a job before moving. You could feel out the job market this way. You may even have a slim chance that a company would pay for relocation costs. It doesn't make any sense to me at all to do it the other way around.
Ditto this. It doesn't make any sense to both quit and then move without jobs lined up. It would make more sense to have at least one of you find a job first and then plan everything else around that. If one of you has to go early so be it but better that than both of you being out of work for an indefinitely perior of time!
If that is not what you are saying and one of you will have a job, I would plan on staying temporarily or for even a year somewhere so you can figure out the area and where you want to end up. This will take the pressure off of buying a house and settling for something.
My H and I relocated to our new state and we did it in stages to try to be as economical about it as possible:
H moved first and lived with his family (rent free) while looking for a job. (I stayed behind so one of us had an income.) It took him 4 months until he found a job. One month after that, he secured us a rental house here.
I moved down and lived with him in our rental house. It took me 7.5 months to find a job, during which time we had to dip into my savings as well.
You definitely do not have to wait until your house sells to start applying to jobs in your new state. Both H and I had been applying to jobs in our desired (now current state) for months from our previous state.
We moved out of state about 8.5 years ago, after DH got an offer for his dream job (we would never have done this without a job offer in hand). A job for me wasn't relevant as I found out I was PG with #1 the very next week and we'd always planned on my being a SAHM anyway.
We visited the new location together for a weekend and found/signed a lease on a rental townhouse. DH moved in first while I stayed behind to pack up our house and finish the semester at work. Then I followed him. We didn't sell our old house; one of the things I did after DH left was help coordinate with the agent to get the house rented. Our tenants actually moved in a week and a half before I was done at work so the movers put our stuff in storage for that time (so I could be in the new location for delivery as DH had no vacation yet) and I took the basic necessities and stayed with my parents briefly.
Once we were both in the new location, we researched the options and bought a house. The 13 months we spent with the rental were well worth it, IMO, to get settled and find the right place.
I would sell, rent locally, try to find a job in the new location, then move to your "final" place.
I don't know what you do but it is taking people 6 or more to find a job. Maybe if you have very specialized skills you'd need less time but moving without a job (and kids) seems like a horrible idea.
As to your current company - do your interviews after hours or early in the am. The new company should be able to work with you on this issue since it does come up for a lot of people.