Moving to a new city is exciting! And while there is no right answer to whether you should rent or buy when you relocate, it’s a thought that crosses many of our client’s minds. When relocating, the decision to rent or buy depends on factors including the local housing market, your circumstances, long-term goals, and of course, personal preference.
Here are some additional things to consider as you plan your move to a new city:
Are You Staying Long-Term or Planning to Move Again Soon?
Obviously, if you aren’t planning on staying awhile in your new city, it might not be the best idea to buy. What are your reasons for relocating? Are you moving for a job? If so, if it doesn’t work out, will you still be happy living in this new city?
If you have ANY doubts about the city that you are moving to, renting can help buy some time so you can make sure that this is a place that you want to be long-term.
Moving into a short-term rental but have appliances and furniture that won’t fit? Store it with Florida’s Best Moving! Call us today for a storage quote: 813-485-6580
Location, Location, Location
When you are relocating to a new city, the most important factor to consider is the various neighborhoods in the city and how they fit your lifestyle. Research safety levels, crime rates, school districts, traffic, and personality so you get the best feel for your new potential neighborhood.
Of course, if you’ve never even stepped foot in the city before, renting might be the best option for you, since it is a short term option. Also, this would give you time to scope out neighborhoods if you ultimately want to move into a home!
Added Pressure to Find a Home
For many people moving to Tampa Bay (or from our area), they wonder if they have the time & energyto also start a house hunt. Do you want to add pressure to your move by looking for a new house at the same time?
If you feel rushed to make a purchase, renting could be the better option. If you have plenty of time and energy in advance to your move, finding and purchasing a property might be the perfect fit!
Don’t have enough time and energy to pack and unpack all your belongings for your move? We can help! Call the pros at Florida’s Best Moving in Tampa, FL for a moving consultation today!
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Personal Goals
Before making any decisions, ask yourself what are your goals are now in your life. Ultimately, whether you rent or buy in your new city will depend on your personal goals and why you are relocating.
Ask yourself:
- Do you want to put down roots? (If you’re staying in Tampa Bay, our answer is a resounding ‘yes’!)
- Are you trying to pay off debt?
- Do you have a down payment saved? Would it make sense to keep saving for a larger down payment?
- Is renting for a while and then buying an option? Would your expenses be about the same or less?
- Do you have a large family or pets? Not every rental allows for the space your family needs so it may be easier to find a place of your own…
If you’re only moving temporarily for work or to care for an aging parent, then answering these questions may help you decide whether renting or buying is the best option when you move.
Rent or Buy? Let’s Recap!
Although this doesn’t apply to every moving situation, we believe that renting for a few months to a year before buying a house is a wise decision, it could save you a lot of stress in the long run. Think of renting as a test-drive of your new city or neighborhood.
Ultimately though, when it comes down to making a decision, do what makes sense for YOU. Balance logic with emotions and don’t jump into anything that makes you uncomfortable. When in doubt remember this: A lease agreement for a rental is a lot more forgiving than a mortgage!
You’ll want to get settled fast either way…See tips to have your new space feel like home!
Stress-Free Moving to a New City
Ready to move to a new city in Tampa Bay or beyond? Florida’s Best Moving & Storage is ready to help make the move as smooth and stress-free as possible!
Whether you are downsizing into a smaller space and need storage options, or are moving into a rental or new home in a brand new city, our movers are here to help! Call 813-485-6580 for a moving quote.