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Updated over 4 years ago,

User Stats

60
Posts
12
Votes
Andrew Bissada
  • Investor
  • Austin, TX
12
Votes |
60
Posts

Rush to buy house or find month-to-month apt as backup?

Andrew Bissada
  • Investor
  • Austin, TX
Posted

If you have a few months left on an apartment lease, and you are looking to buy a home, what should you do:

Rush to buy home before lease ends (pretty sure this is not the right answer, and even if you try to do this, WHAT IS THE BACKUP PLAN IF YOU DONT FIND A PLACE IN TIME? (Assume the person in this scenario is currently living with a roommate, and is unable to do month to month at the current place they are at.)

Here is what I can think of:

  1. Find a room for rent on craigslist and see if they will let you do month to month
  2. Same as above, but if they dont do month to month, ask for 3 month lease with option to extend month to month or extra 3 months.
  3. Get a year lease, and pay atleast an extra 2 months of rent or more when you end up breaking the lease early
    1. Can you break a lease early in Texas if buying a home for the first time? I tried googling this and it sounds like no, but I'm not sure.

What else is there?

Thoughts?

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