Should I rent or sale the house?

Question

My husband and I both have jobs over an 1hr away from where we live. We have a house that is less than 2yrs old. We want to move in the city that is close to our jobs.

Should we

A. Sale the house, and buy another one in the new city.

B. Rent the house out, and buy another home in the new city.

C. Rent the house out, and Rent an apartment in the new city for a few Month's to save money for new homes down payment

d. something else

the problems are neither of our credit scores are that good. So getting anew home loan may not be an option rite now. And we don't want to sale our existing home and have to take money to closing because the home has not had time to build up a lot of equity.

I know it's probably easier to just get jobs in our current city but that's not an option.

Really need some advice..thanks

Answer 1

The answer is suppose to be vary by person.From my personal view,always it is a good idea to hear the voices from different sides and try to decide the best one.Here is a good one that i recommend.http://home-mortgage.online-tips4u.info/...

Answer 2

Need more data:

You say you probably couldn't get a new loan - so buying a new house is obviously OUT. (Your option B.)

You don't want to sell your house, so your option A. is out.

Depending on what rent you could get - versus what you would pay - this might work.  You could hold onto your house and continue gaining equity (this market will turn around).

Fourth possibility - arrange a home swap with someone in the city who wants to move out of it.  Just switch homes (each continuing to own your original house).  Someone might want to move to a job where you are - and you could be near your job.

Answer 3

I have a hard time comprehending why some people will put themselves into more debt when their credit in not good. If you can stay in your home and make the payments then you should stay in it and continue building your credit back up.