Temporary Housing While House Hunting (Boston, Braintree: fit in, for sale, sublets)

[susanojr]

I am feeling a little anxious because we are considering putting our house on the market in order to hopefully find a house to move to. We know the community that we want to move to. We are empty nesters, we are both still working and have long commutes. Another thing is our yard is just way too big, and the yardwork and commute are taking all the fun out of life. The house we are in now is perfect for a younger family. We'd like to move to Braintree, which is a far easier commute and we have family and friends there. Plus house lots are not that large in Braintree and we would enjoy being closer to Boston. All of which would work much better for us. At this stage of life, I know what I want - a house that's not too big with a smaller yard, but we would like the house to be in move-in condition with hopefully some updates like kitchen and bath. We don't feel like doing everything over.
I think we want to sell first, then buy. Buying first without having sold our house really scares me. It seems as if the best thing to do would be to sell our house and then, if nothing is on the market that appeals to us, to move into some type of short-term rental. Where should do we find such a rental? We don't want to spend a ton of money on interim housing. We're willing to rent something with just the essentials. Is there any month-to-month housing that isn't exhorbitantly priced? Or short leases like 3-6 months? Has anyone had experience with this? I would appreciate your advice and experiences! Thank you.

[Atomicdoug]

Buying before selling can be very stressful, and depending on your situation the bank may not close your loan if you can't afford to carry both loans. If you're going to transact 2 properties, it makes more sense to list yours, and then as soon as you're under contract start shopping for what you want to buy. If you try to buy something before you've sold, the people selling the homes you're shopping for will give you lower priority since you're a contingency buyer.

So your plan to sell first makes more sense. In fact, if you can sell and close and get your proceeds, then you will be a strong buyer and likely can get the property you want, even if there are multiple offers on it. Sellers won't always go with the highest offer, they may go with the buyers that are ready cash in hand.

I found plenty of sublets and short term rentals on craigslist. Beware trying to get Short term rentals at an apartment complex. Typically they jack up the rent if they know you won't be there for 12 months.

Originally Posted by susanojr

I am feeling a little anxious because we are considering putting our house on the market in order to hopefully find a house to move to. We know the community that we want to move to. We are empty nesters, we are both still working and have long commutes. Another thing is our yard is just way too big, and the yardwork and commute are taking all the fun out of life. The house we are in now is perfect for a younger family. We'd like to move to Braintree, which is a far easier commute and we have family and friends there. Plus house lots are not that large in Braintree and we would enjoy being closer to Boston. All of which would work much better for us. At this stage of life, I know what I want - a house that's not too big with a smaller yard, but we would like the house to be in move-in condition with hopefully some updates like kitchen and bath. We don't feel like doing everything over.
I think we want to sell first, then buy. Buying first without having sold our house really scares me. It seems as if the best thing to do would be to sell our house and then, if nothing is on the market that appeals to us, to move into some type of short-term rental. Where should do we find such a rental? We don't want to spend a ton of money on interim housing. We're willing to rent something with just the essentials. Is there any month-to-month housing that isn't exhorbitantly priced? Or short leases like 3-6 months? Has anyone had experience with this? I would appreciate your advice and experiences! Thank you.

[495neighbor]

I would do this as a contingency buyer or sell the existing home and look at AirNB for short term rental.

[robr2]

Apartment complexes are often willing to do short term rentals especially if there are multiple vacancies. We have friends whose home sold and closed much faster than they expected and wanted the kids to finish the school year. There were able to rent at an apartment complex in town for 3 months before they moved to their new home in southern RI.

It's worth making a few calls.

[johngolf]

Susan

The good news is you are nor being forced to relocate. You just want to so you are in control. Twice my wife and I sold and moved into a rental (with a garage for storage) for 6 months. We simply unpacked our everyday needs things and left the rest stored. One time we forced to as we sold faster then our new home would be built. The 2nd time was a choice so we could acclimate to a totally new, unknown area a 1,000 miles away. I say our buying decision was much wiser as we could learn the area and take our time looking. We ended up buying new in a different part of the town then we originally thought.

As you are an empty nester you might give some consideration to a townhouse (condo) type arrangement. A great lifestyle with few concerns. You do not own lawn mowers, rakes, shovels, no dreaded snow blower, no need to dig in the dirt, etc. Might be time for you to kick back and enjoy life.

[sal1181]

List your current home contingent upon you finding suitable housing. As soon as you get an accepted offer start house hunting.It is very possible for you to schedule both closings on the same day if everything goes smoothly. Also check Craigslist for short term rentals or month to month apts.

[susanojr]

Isn't it true that contingencies are not flying in today's market, or is it only buyers' contingencies that are a problem?

[kingeorge]

Originally Posted by susanojr

Isn't it true that contingencies are not flying in today's market, or is it only buyers' contingencies that are a problem?

As a seller you do have an upper hand, but not so much as a buyer in hotter areas. If you will not relocate to some hip place as e.g. Davis Sq. then having contingency might not be as big hurdle. You are only at disadvantage if and when you are in a multiple bid situation with a house you are looking to buy, and then no contingencies might be better for a seller. But it is not some ultimate law where no contingencies is the only way to go. It is just easier to look as better/easier buyer if you do not have too many.

Good luck.

[sal1181]

Mostly it's the buyer contingencies that are an issue.

[tikaram]

My first consideration would be finances - can you really buy, and not just anything, but exactly what you want, before you sell? If yes, great. If no - plan B

Second consideration, how soon do you want to move and be done with the process? Is your current house in a an active market? Is it more active than Braintree? Or not? Again, plan B may be advisable here as well

Third consideration - your stuff. My understanding is that you are downsizing, so how ready are you to get rid of stuff that will not fit into new home? Some people choose to take very few possessions, even if they eventually can fit more in the new house. They think that they would want all new (meaning - all different) furniture and decor items, and are excited to start fresh. Others - not so much, they don't like shopping, especially for bigger pieces etc. All that means, that the less stuff you have before moving, the easier you can make a decision where to live while house hunting.

Another option could be to put your stuff in storage, and also look for an apartment on airbnb. There are short term and long term rental options, and they may be more flexible with your uncertain moving date.

And if you decide to sell first, then buy, look at listings in your target area while your house is for sale. Market is very active, but you have great grasp of what you want, I'm sure you will spot THE ONE right away.
Best of luck!