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Buy or Rent for Awhile?

What would you do if you were being transferred to another city/state you're not familiar with? Do you purchase a home right away, or rent for awhile to get a feel for the area?

 
Scuba

Asked by Scuba at 4:52 PM on Dec. 1, 2010 in Home & Garden

Level 34 (64,138 Credits)
This question is closed.
Answers (10)
  • I was in the same boat last year. We decided to rent and boy am I glad we did! We moved into a rental in the suburb everyone recommended to us but it just was not a good fit for us. We took our time and shopped around. We just recently moved into a beautiful home in a wonderful neighborhood and couldn't be happier!
    Debi73

    Answer by Debi73 at 2:08 AM on Dec. 2, 2010

  • I would personally rent for a little while.
    poptart0325

    Answer by poptart0325 at 4:55 PM on Dec. 1, 2010

  • I would get either a 6 months lease or a month to month, so you can familiarize yourself. You don't want to get stuck paying a mortgage on something in an area you wish you hadn't bought in, or keep wishing you'd bought in another area.
    musicpisces

    Answer by musicpisces at 4:55 PM on Dec. 1, 2010

  • rent for awhile to learn the best areas to buy in. I wish we had.
    elizabr

    Answer by elizabr at 5:54 PM on Dec. 1, 2010

  • Rent to get a feel for the area and where you would like to buy.
    tasches

    Answer by tasches at 8:05 PM on Dec. 1, 2010

  • We moved from Illinois to Las Vegas 5 years ago, and we rented for 2 years. I'm really glad we did, because we didn't know much about the school system or neighborhoods here.
    JulieJacobKyle

    Answer by JulieJacobKyle at 8:14 PM on Dec. 1, 2010

  • We have been relocated to a new city and are currently renting- not enough time or energy to research the areas. Plus with the current economy...we also own other homes. We did have a relo package.
    Sisteract

    Answer by Sisteract at 11:38 PM on Dec. 1, 2010

  • rent may be best
    san78

    Answer by san78 at 3:24 PM on Dec. 4, 2010

  • I actually would prefer to do a rent to own kinda like my old landlords use to do with their renters. You would rent from them for a yr and if you liked where you were living then they would give you an option to buy. They would also subtract the total payments you made the previous yr from renting from your house payments and then lower your monthly payments as well. So say if they were asking $60,000 and you paid a total of $7,200 while renting then you would only owe $52,800. Then instead of paying $600 a month you would pay like $500 a month or something like that.
    Jacqalyn

    Answer by Jacqalyn at 5:08 PM on Dec. 1, 2010

  • It depends - if you have a relocation package with the company that hired you, sometimes you have no choice but to go ahead and buy. Also, if you know what school district you want to move into - why not go ahead and buy.
    twinsplus2more

    Answer by twinsplus2more at 8:58 PM on Dec. 1, 2010

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