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06-04-2009, 01:54 PM #1
Renter
- Join Date
- Jun 2009
- Location
- San Diego
- Posts
- 1
1st time home buyer relocating to buy
I am a 1st time home buyer planning/budgeting a move out of the current state I live in. I was wondering what the best strategy for this move would be. I had planned on renting out my boyfriends home first while seeking a job (through the internet) in the new location. I plan on saving enough money to prepay at least 3 months rent in the new location for while I look for a job and a home to purchase. Is there any advice you can give me about the sequence of my planning. I understand that it may take longer than 3 months to find a home, especially because the area I am looking has a very high 'short sale' percentage.
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06-06-2009, 03:37 PM #2
Fixer Upper
- Join Date
- Feb 2007
- Posts
- 58
Are you going to need to get a mortgage?
If so the rest is based on that.
The first thing you need is a job. Don't bother looking for a house until you get a job because you won't get a mortgage without a job.
Next you will need to save up or otherwise have 20% of the purchase price for the down payment.
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