Texas Mortgage & Real Estate Thoughts

Texas Relocation - Part 3 Temporary Housing
February 9th, 2010 11:17 AM

Texas Relocation - Part 3

If you have followed the other two parts, then you are mentally prepared to move and have found a home in your new area. In Part 3 of 9, we will discuss Temporary Housing. A temporary home is used when there is a gap between the date you move our of your old home/rental and when you move into your new home.

Having a gap in your move can be caused by a few things. For example, if you purchased a brand new home that is being built. The home may not be ready for another month or two, but your company needs you at the new location now. During this two month period you may find a home or apartment that is available now and will allow you to keep a short lease.

How do you find a temporary home?

 

Finding the right rental is very similar to finding the right home. If you are relocating for your company, check your employer's policy on rentals. In some cases, the company will pay the deposit and may pay for the termination of the lease (should there be one)

You may also consider talking with the Real Estate Agent or Relocation Specialist you worked with when finding your home. Since they are familiar with the area, they could probably find a temporary home that is in a great location, is the right size for your family, and can accommodate your short term living arrangement. In bigger cities, apartment locating services are available. Two other solutions can be the local Newspaper Classifieds which can be hit-or-miss if you don't know the territory, or a co-worker in the new area may be able to direct you.

Just like when you were looking for your home, be specific with your needs. Even though it will be temporary, you still do not want it to 100% inconvenient. How many rooms do you need? Do you need public transportation? How much rent do you want to pay? What services / amenities are important to you? The more specific you are, the easier it will be to find a home that will fit your temporary needs.

Naturally, you want as much comfort and convenience as you can find. You may not have all of the conveniences of a permanent home, but you can come close. Look for something with pleasant surroundings and sufficient space. You don't want your family to feel inconvenienced, cramped, or depressed with the decor - even if this is temporary.

Many 'Short Term' rental properties come equipped with china, linen, and some may even have maid service. You'd be surprised with how far 'temporary housing facilities' have come due to their popularity. This is especially common in newly developed areas. Look for assistance from the Relocation Specialist or Real Estate Agent. More than likely, they are familiar with these developments and point you in the right direction.


Posted by John Cannata on February 9th, 2010 11:17 AMPost a Comment (3)

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John, I read that post you made on your site about making extra payments toward principle. Goodness, as a fellow loan officer, if we could only get everyone to follow through on just a little each month extra, in 5 years we'd get all the thank you cards and Starbucks cards we could keep up with. One thing to note, I had a client that went on Bank Of America's twice a month payment where their intentions were to get half the monthly mortgage payment made early so over time the interest would be less, and after years of doing that, found that the way B of A designed that payment plan was buy holding that first mid month check after depositing it and adding it to the principle and interest part at the end of the month with the second...so no interest was saved after all that time. So, I advise my clients to do just what you said in that post.

Posted by Brad Lynch on March 25th, 2010 10:16 AM
www.yourmortgageguyforlife.com
I like the picture you put in your blog. Where do you find your pics? I use the online Microsoft free clip art mostly. Posting about the gap of time between moving is a great post. I can't think I've ever hit that. I just had a guy I talked to yesterday moving from Washington that needed a little extra TLC since he hasn't sold his current home. Best wishes bud! YMGFL Brad Lynch

Posted by Brad Lynch on May 5th, 2010 8:07 AM
www.yourmortgageguyforlife.com
Brad - I pull my pictures from Google. Items that are trademarketed, I avoid. All others are free as they are on google. Plus, I do not look to redistribute these items so should be no risk to use. Individuals that do not want their pictures shared will place a watermark on them. Another rule I stay away from is personal pictures. Drawings / Art is okay. Thanks for the comment. I need to finish the 'Texas Relocation' series on my website.

Posted by John Cannata on May 5th, 2010 3:14 PM
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