Q: I recently sold my house, so the closing is in the following 30 days. I’ve been looking for a place to buy, yet I can’t seem to find the right area.
Now I’m thinking about renting or perhaps doing a lease with an option to buy. My wellbeing isn’t good and I’m at a loss of what to do and am scared I’ll be homeless within the next 30 days.
Do you have some other suggestions? I’m not getting any kind of cash out of my closing, as a result any place I buy or even rent has to be affordable.
A: It’s tough to be in a situation where you need to relocate and don’t know where to move. That alone can create unnecessary stress and paralysis for so many individuals. If your health isn’t great, being stressed won’t help. therefore, let’s see if we could unpack your situation and also suggest some steps to seize.
First, have you figured out which communities meet your basic needs and wants? You should know what you can manage, what modes of transportation (e.g., mass transit or perhaps car) you require, and also whether you have family members, friends or a house of worship in close proximity.
Once you figure out what you want and also need in a location, such as price, amenities and services, you can consider several different neighborhoods that satisfy those needs.
Next, you ought to use the Internet to start searching for rentals that will be reasonably priced options for the next year or even two while you evaluate regardless of whether you even want to own one more home. If you don’t have the bandwidth to accomplish this online searching on your own, maybe you have a friend or member of the family who can help, or perhaps you can contact a nearby real estate agent who are able to help filter available property options.
Once you’ve secured an area to live for the next year or perhaps two, you can employ a moving company, change your current address, set up new equipment, and all of the other stuff that have to be carried out before you can really move to and start residing in your new home.
Owning a place to live which is secure and meets your own basic needs and a few of your wants, is extremely freeing — and stress-reducing. Once you’ve stayed there for a bit, you can determine whether or not this is the right place available for you for the long term or in case you really would prefer the joys (and also responsibilities) of homeownership. If being a property owner is meaningful enough to take on the obligations, and you have the economic wherewithal to do it, then you can begin looking for a lease with an option to buy or even buy anything outright.
But trying to perform everything at the same time whenever you close in the next 30 days isn’t a wise idea. Better to break it up into actions that are doable and which will get you where you wish to go.
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