How much time to rent when buying?

[cher54461]

We have stayed in tv for last 3 years. We are now in process of selling house. I am looking to rent when I buy. How long? I was thinking of 2 months, but don't know if 3 months would be more realistic. Any ideas?

[rshoffer]

no rush.... minimum 3 mos is my rec. Plus, you can likely negotiate a better rental deal with a longer stay.

[cher54461]

Thanks. I don't want to have to come back to NE, I would like to have enough time to get settled and have everything shipped down.

[SteveFromNY]

cher54461 - I think it depends on a couple of things. Are you shopping for the house, negotiating, closing and taking possession all in the same rental period? Are you buying a new or a resale? Are you getting a mortgage?
If you're staying there the whole time, and you haven't shopped for a house, and you're buying new, you may need longer than 3 months. I think a new house would likely take 30 days just to close. And you'll need some time to shop for a house. If you've sold and it's all cash, you won't need to wait for mortgage approval.Probably the quickest scenario I can imagine is buying a vacant re-sale all cash. In that case, 2 months may be enough.
But honestly, take your time and look around, and enjoy the life while you're there. The 4th month would be gravy to a landlord, assuming you go Jan Feb Mar & Apr. If you rent later in the year, the landlord should cut a really good deal.
Good luck!

[villages07]

It also depends on when you would be coming.... if after March, then rentals are wide open and you should be able to negotiate a deal with the owner for a minimum of say 2 or 3 months with the option to stay longer if you're still looking or waiting for a house to close. One thing you don't want to do is commit to a longer term lease (6-12 months), then find your dream house in the first month and be stuck paying rent for a house you don't need.....it happens.

[cher54461]

cher54461 - I think it depends on a couple of things. Are you shopping for the house, negotiating, closing and taking possession all in the same rental period? Are you buying a new or a resale? Are you getting a mortgage?
If you're staying there the whole time, and you haven't shopped for a house, and you're buying new, you may need longer than 3 months. I think a new house would likely take 30 days just to close. And you'll need some time to shop for a house. If you've sold and it's all cash, you won't need to wait for mortgage approval.Probably the quickest scenario I can imagine is buying a vacant re-sale all cash. In that case, 2 months may be enough.
But honestly, take your time and look around, and enjoy the life while you're there. The 4th month would be gravy to a landlord, assuming you go Jan Feb Mar & Apr. If you rent later in the year, the landlord should cut a really good deal.
Good luck!
We will be buying pre owned. I will be paying cash. I guess we can probably do 3 mos. If we need any longer we can look for other rental. Thanks for all the advice folks, it is appreciated. I just don't want to get all stressed out. Just packing everything up is enough, didn't realize the volume of stuff to get rid of. Hope to be in tv by end of year.