Opinions please - relocating to another part of the country

[bushbaby_de]

We are considering moving to a town about 100 miles away, so we would both need new jobs as well as a new house. We aren't really sure what order to do this eg house first or job first, or one of us get a job and house then the other start looking etc etc etc.

Also where we live now is the only property we have ever owned, so we weren't too bothered about completion when we bought as we were renting and could move at our own convenience. We were also looking to buy in the same place as we currently lived and worked. My OH isn't sure we could get a mortgage in another town based on our current jobs as we'd obviously have to leave them to actually live there. But I'm pretty sure you can't get a mortgage til you've been in a job a year and I don't really want to rent for a year then move again.

So I'm looking for some advice from other people who have done this already please, and I'm sure there's lots of other things I haven't thought of so would appreciate any words of wisdom really, please. Thank you :)

[hc4361]

1. Sell. Job hunt in the new area whilst you are selling.
If you haven't got a job when house is sold:
2. Rent whilst job hunting AND research the housing market.
3. Get job, get mortgage, buy.

The advantage here is that you are not in a chain at either end, so you can grab a good offer when selling - yes you can complete very quickly; and you can grab a bargain when buying - yes you can complete very quickly.

This keeps all your options open and reduces the stress.


Good luck.

[Hymie]

Many mortgage lenders are wary of lending to those who have worked for their current employer for less than a year – since they can be fired for no reason whatsoever, without receiving any compensation – but it is not impossible to find someone who will lend to you in this situation. The greater the deposit you have – the better the chances of acceptance.

I would definitely get a new job before moving, imagine you both move and cannot find work (no money to pay the mortgage). At least one of you should secure a job offer (subject to you moving), given the current economic environment.

I don’t think you have thought the whole situation through. You will need to sell your current home and buy in your chosen area – as well as both getting new jobs. Another thing to consider is that you might need a bridging loan to cover the period between you buying your new home and selling the current one.

[bushbaby_de]

Hi, thanks for your responses. We certainly haven't thought the whole thing through yet, just decided we want to do it, so you guys are my first sounding board :)

We know the area well where we want to move and have done a bit of research already. It helps that we know the areas that we'd want to live in and have an idea of prices etc.

Its just difficult to know what to do. We don't really want to get off the property ladder and we could even port our existing mortgage across, which obviously removes that problem. We don't know if you can get a mortgage in another town on the strength of our existing jobs though, so really want advice on that aspect. However not being in a chain sounds like a strong position to be in when making offers etc. We definitely don't want to need a bridging loan, I know they are best avoided due to cost!

It must always be difficult to both get jobs at the same time when you relocate, hence also wanting advice on that. Maybe one of us gets a job first and spends the week up there and come back on weekends? Then do the selling/buying when the other has a job offer too?

It would be really helpful if anyone who has actually relocated themselves could tell me how they did it. Or if there are any handy websites with advice on relocating?

Thanks guys :)

[Wak]

We moved home and jobs about 100 miles in 1960 but it was a different kettle of fish regarding both property and work in those days.
However, I would suggest that one of you gets a relatively safe job and lives in digs through the week before you even start selling. That would be a safe anchor point in the new town. If things didn't go to plan, they could always leave the job and come home. With one safe job, the other partner could start the selling process and also search for their job. I believe that the time it takes to sell property really depends upon the asking price compared to similar properties and it may pay to reduce the price a bit rather than try to get the price you really want. If the price is right then a builder will by it rather than a family who are looking for a new home.
Which ever way you do it, it will be a time consuming experience considering the current housing and jobs situation.
I wish you all the luck in the world but hope and trust you won't need it.

[Wak]

P.S. Try to find an Estate agent with offices in both towns. It could be helpful and possibly cheaper to use the same one for buying and selling??

[bushbaby_de]

Thanks for your tips. We would be moving back to my hometown (left 10 years ago) so at least we won't have to suss the areas out on top of everything else! Any more personal anecdotes on the subject gratefully received :)

[pastafreak]

My ex and I did this 10 years ago. We relocated from Bedfordshire ( he was working in London), to Plymouth,Devon.....where he had been offered a job. We only had from mid May to the end of August to do it all. House went on the market,we spent the summer going down to Plymouth to suss the area out and find a rental. It was hard as we were competing with bothnurses and students who were also looking for rentals. On top of this,we needed to find a school for our daughter who was starting her GCSE's.We found both house and school by the end of August-it was by the skin of our teeth. Our tenancy was for 6 months-during which we found and bought a house. it gave us time to become familiar with the areas that had been recommended as good.....we discounted most of them....lol ...It showed that what others may have thought as good were not right for us.