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I don't yet have a job but there is no reason I won't get hired, I'm 100% confident there will be a position for me. There are current vacancies in my area of certification.
Your situation is probably, I hope, different, Stagemomma, but in my social circle (academia) "there is no reason I won't get hired" are famous last words.
I have done what you want to do a few times and only once did it go badly and we were stuck with 2 houses for awhile. So it’s always a possibility you can’t sell and would need to rent it or let it sit empty since it’s paid for.
It worked for me. I downsized a couple of years ago, spent quite a few months working on the current house, then quite a few months moving from the old house, then putting the old house up for sale.
For me, it was fortunate that the two houses were only about 5 minutes apart, so it was easy to move stuff gradually, though the convenience engendered some laziness on my part.
would it be crazy if I bought a second house...
And then didn't move for 6 months?
Nope. People do it all the time to bridge relocation to a new town and new jobs
and the 100 or so item decorating and repair list work they'll want to have done before moving in.
Good idea, I hadn't thought of that! But would that count if it isn't my second mortgage?
Also consider the utilities, taxes and insurance for both of those properties. Especially if one is vacant. Most insurers won't cover a vacant dwelling or if they do, they'll charge you an arm and a leg for it. BTDT. If you rent one out to offset costs your insurance coverage for the rental could still end up being higher. It eventually worked out for me, but it was a tense few months financially. Unplanned expenses do pop up, usually when they're least convenient. I would never do this without a solid job offer/starting date in hand. Hiring gets sidelined or delayed by red tape a lot.
Last edited by Parnassia; 01-18-2023 at 04:42 PM..
Your first step should be to talk to a lender so you understand the financial requirements and loan options.
Would you still move to Richmond if your mother wasn't there? I remember some of your posts about her. How healthy is she at 87? Just a few things to think about.
I know nationwide there is a bit of a teacher shortage, but I also know as a former teacher how difficult it can be to find a different teaching job. Maybe that was just my subject matter and license.
Personally I would wait a few months, and have a job secured. I don't believe there is one perfect house.
My biggest question is can you get a mortgage without a job in hand? That has always been an important criteria. I will honestly say this sounds a bit risky to me.
My biggest question is can you get a mortgage without a job in hand? That has always been an important criteria. I will honestly say this sounds a bit risky to me.
She has a job in North Carolina.
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