You could request a job transfer for many reasons. Maybe your spouse got a promotion in the same area where your company has an office branch. Perhaps you and your coworkers don’t get along and you need a fresh start. No matter the situation, you could be making the right move with a job transfer. But now you might find yourself asking a difficult question, “What do I do with my house?”
Can I rent out my home when I transfer jobs?
Before transferring jobs, many homeowners decide not to sell their home. Instead, they find tenants to rent the original property and will purchase another house in their new location. This might seem like a very good idea, but there are some things you need to consider first.
Mainly, you need to remember that it could be difficult to obtain a mortgage for a primary residence if you haven’t sold the old one. For example, the Federal Housing Administration (FHA), requires its borrowers to only hold one FHA mortgage at any time. If you are in possession of an FHA mortgage on the original home, you can’t obtain a second loan until your original balance is paid.
The short answer: yes. When you sell your house before you transfer jobs, it is cheaper and easier. This also sidesteps many insurance, legal, and tax hurdles that accompany becoming a landlord. Time is of the essence when you sell your house. HomeGo can sell your house in as little as seven days with a fast and easy process.
If you’re going through a job transfer, HomeGo understands that the time-frame is strict. Instead of using a traditional real estate agent to sell your home, HomeGo works fast to buy your house, supplying you with the money you need to purchase a new house.
No matter the reason for your job transfer, HomeGo’s resources will get you a head start. HomeGo knows there’s no time to waste, so don’t wait another moment to sell your house. The next chapter of your life is ready to begin!