Rent a new place before selling my current home?
![[Post New]](/jforum/templates/default/images/icon_minipost_new.gif){kind=icon}
Anonymous
| Placing my home on the market in 2 weeks and decided to rent for a year before buying again. I have seen a home to rent that will work for our family but they want to start receiving rent in May. Should I take the risk that my house will sell quickly and go ahead and sign the lease or better to wait until I have a contract on my house? |
Anonymous
| How tight are your finances? You might not be approved for the rental if the rent plus your mortgage on the old house exceeds a set percentage of your gross annual income. Private landlords look for gross income to be 40 times the monthly rent, so add your mortgage to that and see if it flies. |
Anonymous
| Why not negotiate a 1-2 months lease back in the contract? That should give you enough time to find a new place and move your family. |