If you have taken a new job out of state for at least a couple of years, you may not be sure if you should rent or buy a house.
Often, buying a house is a good move. But in the position of a new job and if you are not sure if it’s a long-term thing, you should rent an apartment in Lynchburg, VA until you see what the future holds.
It seldom makes a lot of sense to live in a place for two or three years and then sell. Even though the economy is finally, slowly turning around somewhat, it is probably safe to say that most properties in the current marketplace would not go up enough in value in only two years to offset the cost of the sale.
This is a situation that a lot of military families are in. Often, they’ll be stationed somewhere for just two or three years. They’ll buy something, then they can’t get it sold, and they end up taking a loss or they end up with rental properties all over the country. Playing long-distance landlord is very challenging.
Rent until you know you want to stay for more than five years. If you decide you like your new job and new surroundings — and it turns out you’re going to be there for a good, long while — then you can start to consider buying.
For more information on renting in Lynchburg, VA contact Walden Pond Apartments.