Moving to a New City: Should You Rent Before Buying a House? | MELANIE ❤️ TAMPA BAY
Vložit
- čas přidán 8. 07. 2024
- You've made the major decision to move to a new city that you don't know very much about. You are excited about your transition, but have to figure out the right place to live. Should you rent before you buy? There's no one answer to this common question, so I'm breaking down both sides to help you find your answer.
WHAT'S YOUR TIME FRAME FOR MOVING?
If you're being relocated for a job, your employer may need you to move within a few months - not a lot of time to get to know an area. Being crunched for time may mean taking a breath and renting is your best bet.
Planning a move well in advance? Then you'll have more time to get to know your new city. Visit there multiple times, explore the area on weekdays and weekends to get a feel for your commute, different seasons, and talk to lots of locals.
Do your online research on home prices, neighborhood safety, distance from places you know you'll frequent. If you have the time to do all this and a neighborhood or area emerges as one that you really like, you'll feel more confident about the choice to buy a house.
HOW DO YOU FEEL ABOUT YOUR JOB?
If you're starting a new job with a new company or feeling antsy in your current career path, you are probably going to want to rent until that situation solidifies.
On the other hand, if you're moving with an employer you already know and like - then buying is an easier choice because you're not as worried about having to find new employment in the near future.
DO YOU HAVE KIDS?
With school-aged kids, you don't want to have to rent for a year - then move elsewhere and have to switch schools. There are rental options in good school districts, although they can be difficult to find in the Tampa Bay area - especially if you're looking for a large enough house for the family. Landlords may also restrict pets based on size or breed.
WHAT DO YOUR FINANCES LOOK LIKE?
If you can't qualify for a mortgage or want to save more money for a down payment, then renting is the easy decision. However, if you do have money to put down and you can qualify for a loan - consider interest rates and home prices in the area you're looking at.
ARE YOU AN EXPERIENCED HOMEOWNER?
If you've been a homeowner for a while, being a renter may be a bit uncomfortable - even if it's temporary. You don't want to ask permission to change your living space. Or you could want a break from the responsibilities of ownership and can make a comfortable home for yourself while learning about your new city.
DO YOU HAVE A RELOCATION PACKAGE?
I've worked with many clients who move with very generous relocation packages from their employers that pay for moving expenses and closing costs if they purchase a home. Those packages often have an expiration date. Being offered thousands of dollars toward a home is enticing, and you may not want to lose those benefits if they expire while you're living in a rental.
In that situation, you could rent for a shorter period of time or try to negotiate different terms of your relocation package with your employer.
Whether you decide to rent or buy when moving to a new city is a very personal decision. Consult an experienced real estate professional if you do choose to buy - they can help with local knowledge and hopefully cut down on stress.
SUBSCRIBE to this channel if you want to learn about real estate, home ownership, or living in the Tampa Bay area: goo.gl/XStcGM
FOLLOW MELANIE! 📱
melanielovestampabay.com
INSTAGRAM:
/ melanielovestampabay
FACEBOOK:
/ melanielovestampabay
TWITTER:
/ melanietampabay
SMITH & ASSOCIATES:
melanieatkinson.smithandassoc...
🎧 LISTEN ON THE GO WITH MELANIE'S PODCAST 🎤
anchor.fm/melanielovestampabay
ITUNES: goo.gl/TGQrW7
SPOTIFY: goo.gl/y6T1i4
GOOGLE PODCASTS: goo.gl/C7BcAx
Melanie is a Tampa Bay area Realtor with Smith & Associates. She loves Tampa Bay area area, houses, and helping clients buy and sell real estate.
Email: matkinson@smithandassociates.com
Call/text me if you are looking to buy / sell a home in the Tampa Bay area! 813.368.6084
DISCLAIMER: All content provided on melanielovestampabay.com and the Melanie Loves Tampa Bay CZcams channel/social media platforms is for informational/entertainment purposes only. The owner of Melanie Loves Tampa Bay makes no representations as to the accuracy or completeness of any information on this site or found by following any link on this site. Information provided is subject to change, please consult Melanie directly or another licensed real estate agent to receive the best expertise for your specific situation.
The owner of Melanie Loves Tampa Bay will not be liable for any errors or omissions in this information nor for the availability of this information. The owner will not be liable for any losses, injuries, or damages from the display or use of this information. - Jak na to + styl
Whether you decide to rent or buy when moving to a new city is a very personal decision. Consult an experienced real estate professional if you do choose to buy - they can help with local knowledge and hopefully cut down on stress.
Email: matkinson@smithandassociates.com
Call/text me if you are looking to buy / sell a home in the Tampa Bay area! 813.368.6084
Excellent Helpful Video Melanie!
Do you service Wesley chapel
I do!
@@MelanieLovesTampaBay do you have a broker or at least know one? We want someone that shops for the best rate for us instead of using a local Mortgage Company
Did you retire from making Tampa videos?
I’m relocating to Tampa at the end of the month. I rented an airbnb for a month so I wouldn't be locked into anything long term, hopefully that’s enough time to find a neighborhood I like. Thanks for these helpful videos.
Excellent Informative Video! I know what I'm looking for and how I'm going to do it. You have been so HELPFUL. Thank You Melanie!
Good advice you have yes if we moving a new house we need to adjust about soroundings.
Good point.. thanks so much..
Luv watching your videos so helpful and informative
thanks Melanie! Great points..In a perfect world we would be able to travel a few times to the Tampa area but its not really realistic for us. Your tips have been very helpful for that reason :-) God bless!
Hi Melanie: it’s Ray thanks for getting back to me I appreciate it. Thanks for the feed back on westbay homes, that’s my goal one day to own a home. First time own buyer I hope you’ll be able to help me when I’m ready. Thanks again for taking the time to reach out. I see your favorite color is red great color mine is purple my daughter gave me that color. Have a good night and thanks again.
Excellent advice for those who may not know exactly what options a are available. As usual your advise is point on.
Thank you!
Thanks!
Vey informative video. Really helped me to make up my mind. I wanted to start out renting but the cost of renting is double the amount to own. So buying it is
My husband and I currently live in Cincinnati. We put ourselves in a three year savings plan with the end result of moving to Orlando or Tampa. We currently have one year and a few months left. We are excited to live in a new place. Your video are incredibly helpful to us. Thank you!
That's great! Good job planning! I vote for Tampa, but I am pretty biased :) If you haven't watched my Why Tampa video, check that one out. One thing I wanted to mention...it is hot everywhere in Florida, but the closer you are to the coast, the more breezy it can be. Makes a difference when you are in the depths of summer!
Thanks for sharing your informative video, I enjoyed watching/listening your interesting topic..have a nice day! God bless!
Thank you for watching!
I definitely prefer to buy. We are currently buying apartment in East Lake. This is very stressful process. Renting now is so expensive. I definitely recommended fly few times there and then buy if you are comfortable with that.
Thanks for the comment! Yes, renting is pretty expensive right now. In a lot of cases it is cheaper to buy than rent! good luck with your purchase!
I am moving in September and we are going to rent a room first
Hi Melanie! Great video! I am wanting to move to the Tampa Bay Area and I have been doing my research on how to make that dream a reality. As much as I would love to own my own home, I think I will have to rent for the time being because I do not have a job there yet. It’s been difficult finding a job there since I think companies are reluctant to hire someone who does not have a local address. So I’m wanting to move there to find a job. The problem is, most apartments I’ve looked at online, landlords require you to have a job. I have some money saved where I could probably survive a few months without a job. I’ve been in touch with a couple of temp agencies so it may not be difficult for me to get temp work right away until I can secure a permanent job. Also I have not come across leases that are shorter than 12 months. Is it still possible for someone in my situation to move to the area?
I would really be interested in options for those that are looking for income property in Florida. Here in the Midwest in cities like Chicago there is a plentiful supply of two, three, four, six and twelve unit residential buildings but I am hard pressed to find that in Florida from my modest research online.
What jobs do people typically relocate to the Tampa Bay Area?
Does Tampa allow home schooling? I’m not familiar with your laws. Also are there any laws people like me should be aware of?
Still waiting for a upload
Also, are school shootings common in your area? Sorry for having to ask such a sad question, but I’m a mother of three and am trying to figure out what I think would be best for them👍🏻❤️
please video driving car demonsration ok
Why hello again Melanie: my name is Ray I wrote you a couple of weeks ago but you didn’t get back to me. I was waiting for a response, anyway I’ll try one more time. I just saw your video on moving to Tampa should I rent or should I buy. When moving to a new city. I just wanted to reach out to you because I saw a lot of your videos and i loved theme. I appreciate the knowledge and the information you’re giving to us. Than you for that. Anyway I’m reaching out to you again asking for you’re experiencing in me moving to Tampa. I leave in Nyc and in a couple of years looking to move to tamp permanently. I have two children ages 8 & 12 . I’m looking towards retirement can’t wait. I was wondering if you could help me on this move. I’m looking to buy a home by westbay what do you think about that build,er. I’ve read some reviews good & bad. Have you help others clients with this builder and what do you think of theme. Thank you
HI Ray--my apologies for not getting back to you sooner. Thank you for commenting. Homes by WestBay is a lovely builder with very nice floorplans and communities. My clients have had positive experiences with them. Every medium/large builder is going to have positive and negative reviews. Your best bet, with whichever builder you use, is to be present regularly during the construction process, have an open dialogue with the construction manager of your home, and do 3rd party inspections.
Good job planning your move so far in advance. Please visit the Tampa Bay area as much as you can over the next few years so you can get a good idea of which areas you like best. If you decide to build from scratch, you will need 6-12 months to build and close on your house. So, if your timeline is to move in about two years, that would mean you would need to start house/builder shopping next summer. I am happy to help you!
If I buy a house, it has to be a small house because I'm just one person.