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Kinggambit90 t1_j26vgkc wrote

Keeping it simple allot of people simply rent out the old home and use that to pay rent in the new city.

But there are allot of variables. How long do plan on living in the new home? Do you ever plan on returning to your old home? What happens if your job requires you to move? What happens if the old house tenant stops paying rent, can you afford both mortgages or mortgage and rent? Why a house why not an apartment in the mean time until you settle in?

Be very careful you're looking at two homes now, but there might be a chance you can have no homes if you really mess it up, or destiny really doesn't like you.

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swanklax OP t1_j26w14h wrote

We are a family of 4, with my MIL coming as well. An apartment isn’t an option.

New home is intended to be for the next 17 years, though relocation for work is always a possibility. That relocation would entail additional financial flexibility due to a promotion or leaving a job for higher pay, so not really a concern.

We could pay both mortgages in a pinch, and could always sell down the road if the financial benefits of renting were no longer there.

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