jobs and making the move

[mmdj43]

Originally Posted by connie

We feel the same - moving w/o jobs but we have money saved. Should be able to buy outright or with small mortgage. Still very nervous because it's not a great position to be in! I think it can be done though. Some of my concern comes from making sure we are adequately insured ... we'll use COBRA or buy short term health insurance, but still makes me nervous. Thoughts about that from anyone???

But Grass is Greener has a good point - lenders telling consumers they can afford more than really possible. Lots of people are probably in trouble, and it's a mindset that needs to be adjusted for a lot of people. So when people talk about moving somewhere w/o jobs and qualifying for a house, it does sound like more of the same risky business. Can we live with you until we find a job???

It's a risk people take moving without jobs. When we originally looked at the Raleigh area, we found the perfect new home but my husband wasn't having much luck finding employment there. This was back in Nov'05. He started getting opptys from the Charlotte area in Feb'06 and now we're going to end up in the Charlotte area. I wanted the house so badly in the Raleigh area but my husband refused to put money down on a house until he had employment lined up. In our case, it's a good thing we didn't put money down because my husband just took his resume off the web last month (since he has a job already in the Charlotte area) and there were still not many bites from companies in the Raleigh area. Now this can also depend upon the market, the industry you're looking for, etc. So it's all a risk factor.

[shannon94]

Originally Posted by GEEFLOWR

Well there are no doc with verified assets, that might help....also, if you already have the promise of a job, I know a lot of mortgage companies will accept a letter of promise with salary info. As far as the rates, it depends a lot on credit score, as without salary info assets and credit are all they have to rely on.

People with fresh BK's are buying homes now!! Crazy!!

[TBLTZ]

Originally Posted by Mvn2nc

Yes, some of us came into it with "x" amount to get by w/out a job.
I know it's not for everyone one, but it can work. Do i like spending the money with out it comming in- NO. But it's the choice we made going into to it. We had enough put aside for just that for at least 6 months worth.

This is what I will be doing buying a house then living off savings. or I will prepay a few months of my mortgage payments then move down a look for a job. I work in Information Technology if i can't find i job right away I would be willing to do any job to own my own home. Its just something I cant do on LI so Ill do whatever it takes.

[Cassie]

We tried it both ways :-) Initially my husband had a job lined up here, he'd driven down and interviewed and been offered a position, but unfortunately, we lost the contract on the first house we were going to buy when someone else came along and offered full price and then dropped their home inspection contingency to get it. The house wasn't worth full price, it needed some work, and there was no way we were going to take it without a home inspection, so we declined to meet the back-up offer. My husband then had a choice of either leasing a place in NC, ( at a much lesser salary ) while we kept up a mortgage on our home in Nova ( DC metro area. ) We had horses, dogs and cats so moving into a rental apt wasn't an option for both of us. One of us needed to stay in Virginia and take care of them until the house sold. He decided to bow out of the NC job.

Then we started househunting again. We found a house in NC and put our VA house on the market and ( to my shock!) had a full price offer in 6 days. Hubby didn't have a job lined up in NC and the previous job offer here was no longer available. I moved down first, he kept his job in VA for a few months.

We aren't subdivision or MCMansion kinda folks, we wanted land in the country, privacy and a non-production, non crank 'em out, stick a fork in 'em and they're done, overpriced cookie cutter home. We had a set price range and in order to get most all of the features we wanted, in the price range we wanted, did not buy a new house. We really like the one we bought though, love the location and love the property.

Once DH moved here ( and being separated during that time was a bummer) it took him four months to get a job- so we lived off of savings.

It's a crapshoot, IMHO. I'd advise someone to have a job first, before moving if at all possible, but that doesn't always work out as you can see from our situation. Plus as you said, a lot of companies don't want to hire unless you are already living in the state. If you can sell and find a short term rental then that's probably a good option to consider unless you have enough money to live off of for as long as you need to until gainfully employed.

Good luck with your decision. It's a tough one. Been there

Originally Posted by TBLTZ

I want to know what people are doing about jobs when they move to NC.

Are you moving down first then finding a job?

Or do you have a job lined up when you move down?

Baiscally I heard they will not higher you if you live out of state.

I think my plan will be to buy a house then move then try and find a job.

What is everyone else doing?

[Marygirl2468]

We came out to Triangle area in April to check it out and found a home, bought it and worked out the loan as a second home.. we moved here end of July, we did not have jobs lined up.. I have worked for schools in Ca. for years and just applied and I just got hired on at schools in Wake Co. and my husband got a job working in with custom glass and mirror co. So it worked for us.. We have some money to sit on but moving expenses, reg. cars and all can get pricey. just be prepared.. Good luck