Change Job or Move House First?

crocks

Opinions...

Change Job or Move House First?

We are looking to relocate to a new area, however I am also looking for a new job.. Whats the best option from a point of view of securing a mortgage.. ... Stick with current job and commute and then move or get new job and then move?

JC

mrs-h_3

I'd be interested in what thoughts are on this too as my husband has had a job offer which is very appealing but we are in process of buying new build and think it would affect mortgage app etc

HappyMJ

Either really. It doesn't matter too much. I'd take the new job rent somewhere close to it for 6 months. See if you like both the job and area whilst looking for a new home to buy then move into that at the end of the 6 month tenancy if all is well.

shar46y

We are in the middle of this, escaping from London!

OH got offered a better job 100 miles away, so he negotiated a later start date (this coming September) and then we put our flat on the market. Unexpectedly, we found a buyer for our flat immediately so we will be moving in 2 weeks!:j

I handed in notice on my job as soon as we exchanged contracts so we could tie in with our completion date. It may be a bit different for us because we have two small toddlers, so my plan is to not look for a job until we've had several months to settle in - doesn't make much difference to our finances since childcare is so expensive, used to swallow up almost all my salary anyway!

OH will carry on working for his current employers until September, this is feasible because a lot of his work can be done remotely and he will commute in to London perhaps once or twice a week until then (just over an hour on the train).

Our building society have been completely happy with these arrangements so far (we made sure they were kept fully informed of our plans) - unfortunately they have a major problem with the house we are trying to buy, so we may end up moving into rented, but that's another story!

mlz1413

I'd say job first as that way you know you can pay the bills, but if you want to apply for a mortgage this will be affected.

I'd get the job, move to the area and rent and then look at buying when you know you are settled in the job and know where in that area you want to move to.

Years ago my mum had the idea to move to Norwich for a fresh start, she sold her house and bought a lovely place in the 'golden triangle' put in for a transfer at her job and was offered a junior position as that was all they had. she couldn't afford the wage drop and so ended up commuting and spend odd days in my sisters spare room. After a year she gave up and moved back.

Ambro

HappyMJ wrote: »

Either really. It doesn't matter too much. I'd take the new job rent somewhere close to it for 6 months. See if you like both the job and area whilst looking for a new home to buy then move into that at the end of the 6 month tenancy if all is well.

I agree with this. Don't tie yourself down to a new area, job and property all at once. Could be that the new job doesn't work out or that the new area turns out to be a disappointment. At the very least, renting in the new area will allow you to develop a good sense of where you might like to buy.