Best strategy for relocation? (selling and buying house) (rental, schools, want to move)

[KORJK81]

Hello folks!

We (pregnant wife due in 4 months and 3 year old) will be moving from STL to DFW for a new job. My company has agreed to give me a few months to sell and buy my house, so I will be traveling every other week to corporate office albeit at my own expense since relo package has given me a lump sum. However, I want to save where ever I can. The relocation package also includes up to 6 months of paying for my mortgage payment LESS principle, which will still be a big help since the mortgage is only 3 years old. What do you guys think would be the best strategy?

1. Quickly find a home in DFW and purchase. Then worry about selling my home?
2. List my home for sell and hold off on the new home and see how the market reacts? Basically play it by ear?
3. Any other best strategy?

I would rent a home but the company's relocation package will expire in 12 months and I want to take advantage of the closing cost coverage. Also, my wife and I do not want to move again.

Thanks for your input!

[WorldKlas]

List your house and start house hunting now so you can narrow your seach to specific areas. With Spring approaching the market typically has more buyers and often bidding wars keep buyers in the hunting mode for longer than planned.

[MrRational]

Originally Posted by KORJK81

We (pregnant wife due in 4 months and 3 year old) will be moving from STL to DFW for a new job.
My company has agreed to give me a few months to sell and buy my house...
The relocation package also includes up to 6 months of paying for my mortgage payment LESS principle...

I bet they think they're being generous too.

What do you guys think would be the best strategy?

You really don't have the luxury of a 'best' strategy.
Sell in STL asap for the best price you can get.

I would rent a home but the company's relocation package will expire in 12 months...

Frankly I wouldn't be in any hurry to buy again once in Texas.
Pick a nice rental in a good school district and then settle in.

Work for the promotion and THEN buy or
keep a wary eye out for the next transfer.

[KORJK81]

Are you saying the market is becoming flat in DFW area?

Originally Posted by MrRational

I bet they think they're being generous too.


You really don't have the luxury of a 'best' strategy.
Sell in STL asap for the best price you can get.


Frankly I wouldn't be in any hurry to buy again once in Texas.
Pick a nice rental in a good school district and then settle in.

Work for the promotion and THEN buy or
keep a wary eye out for the next transfer.

[PaulCCC]

Rent a place in DFW and rent out your home in St. Louis. 12-month is a lot of time, I supposed you and your family will go back to St. Louis at some point? I am actually moving from Dallas to Boston in a month from now.

[Spottednikes]

List now to sell home. Contact a realtor in area you might move. If schools are an issue, research schools asap. They narrow your search to those areas. Have the realtor send you listings that meet your needs to get a feel for housing mkt. Once you get an offer, try to write up contrct with a 45-60 day close. Go to dfw and spend weekend house hunting after your option period/inspection period/financing contingency has passed.. If you like a home write up offer with contingency to sell your home, and make sure agent let's them know you are under contract and option period/financing contingency period has passed. Most sellers don't like accepting a contract with a contingency to sell other property but are much more likely to take it if they know your deal selling your house is past those points and looks solid.