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Long Distance Moves: Is Renting Or Buying Property Better When Moving To A New State?

Long Distance Moves: Is Renting Or Buying Property Better When Moving To A New State?

Moving to a new home can be stressful, but moving to an entirely different state can add a whole new level of stress to the situation. Not only do you have to worry about leaving a familiar home, but you have to travel hours, sometimes days, to a brand new location. Whether you are moving for a better job opportunity, or are looking for a fresh start, moving to a new state means finding a new home, and most of the time it has to be done quickly. So should you rent or buy? That depends on your specific situation, but there are pros and cons for both.

Whether you’re just moving to the next state over, or you’re taking the leap and trading your cold NYC apartment for a tropical Miami adventure, (Sky Five Properties knows a thing or two about that) weighing your options and making a list of pros and cons will help you to determine whether you rent or buy when you get to your final destination.

Renting When You Move To A New State

Many people choose to rent a home when they move to a new state because it gives them the sense of freedom and doesn’t feel so permanent.  When you are new to a state, it takes time to get to know the area, explore, and decide whether or not a particular town or city is a right fit for your family. When you rent, you don’t have to make a serious decision before doing the appropriate research. Renting allows you to explore the area and decide which part of the new state makes the most sense for you. Renting is also a smart move when you have to leave your old home quickly and get settled in the new state. It is usually easier to find a suitable rental for a decent price in a hurry than to find a home and go through the process of buying it. Once you get settled in your new rental, you can take your time getting to know the area and, if and when you’re ready, find a home that you want to purchase. If you do decide to rent, make sure your lease is month-to-month, or that you can terminate the contract without major penalties. It doesn’t make sense to rent a home in order to save money and for convenience purposes if you’re stuck in it for the long term. It is also easier to accept a home “as is” if you are renting and know that it is a short-term situation. Small issues with the house, such as it being smaller than you’d like or not having a pool, are tolerable when you know it’s a temporary situation. 

Buying When You Move To A New State

If you’re familiar with the area, buying a property may be the best option for you. If you are lucky enough to have a flexible window in which to move, you can do the necessary research and find the houses that best suits your needs. You can hire a professional real estate company to narrow down an area and a house that suits your needs. You can take your time in the property buying process and make informed decisions. Buying a home in a new state can give you a sense of belonging, and help to establish a new foundation in an unfamiliar place. If you have school aged kids, buying a house helps them feel grounded in a new place, and ensures they are not moving from school to school and neighborhood to neighborhood in a time in their lives when they crave familiarity and consistency. Buying a house also limits the number of times you have to spend time and money moving around, and you can get through one major move and be done. 

Long distance moves can be exciting, adventurous, but also stressful and expensive. They require a lot of planning and research and many decisions have to be made quickly. If your move is sudden and unexpected, renting may be the best course of action. If you have the time and money to buy, it may help to quickly set up your new foundation in your new home state. Moving and buying real estate is a very personal decision, and you should always take the time to weigh your options and make the decision that makes the most sense for your family.

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Kaya Wittenburg

Kaya Wittenburg

Kaya Wittenburg is the Founder and CEO of Sky Five Properties. With world-class negotiation and deal-making skills, he brings a highly impactful presence into every transaction that he touches.

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