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If you’re a travel nurse, you know that your job requires you to be on the move. You may have to move from state to state, or even across the country, to take on new assignments. With this in mind, many travel nurses wonder if it’s possible to buy a house while still working in their profession. The good news is that it is possible, and with a little bit of planning, you can make it happen. Here are some tips on how to buy a house as a travel nurse.
1. Determine Your Budget
The first step in buying a house is to determine your budget. As a travel nurse, you likely have a good income, but you also have expenses related to your job, such as travel and housing costs. You’ll need to take all of these factors into account when determining how much you can afford to spend on a house. You can use online calculators to help you figure out the amount of mortgage you can afford based on your income and expenses.
2. Get Pre-Approved for a Mortgage
Once you’ve determined your budget, the next step is to get pre-approved for a mortgage. This will give you an idea of how much you can borrow from a lender. You can get pre-approved online or by going to a bank or mortgage broker. Keep in mind that pre-approval doesn’t mean you’re guaranteed to get a loan, but it does give you an idea of what you can afford.
3. Find a Real Estate Agent
When you’re ready to start looking for a house, it’s important to find a real estate agent who has experience working with travel nurses. They will understand your unique situation and be able to help you find the right home for your needs. Look for an agent who is familiar with the areas where you’re interested in buying, and who has a good reputation in the industry.
4. Consider Your Lifestyle
As a travel nurse, your lifestyle is different from many other people’s. You may need to move frequently or be away from home for extended periods of time. When you’re looking for a house, consider your lifestyle and how it will impact your choice of home. For example, you may want to look for a property that is easy to maintain or has a low-maintenance yard.
5. Research the Local Real Estate Market
Before you start shopping for a house, it’s important to research the local real estate market. This will give you an idea of what homes are available in your price range, and what the market conditions are like. You can look up listings online, or work with your real estate agent to get a better understanding of what’s available.
6. Be Prepared to Move Quickly
In the real estate market, things can move quickly. This is especially true in areas where there is a lot of demand for housing. As a travel nurse, you may not have the luxury of taking your time when it comes to buying a house. Be prepared to move quickly if you find a property that you like. This may mean making an offer right away, or being flexible with your closing date.
7. Consider Buying a Fixer-Upper
If you’re handy with a hammer and don’t mind a little bit of work, consider buying a fixer-upper. These properties are often priced lower than move-in ready homes, and can be a great way to get into the housing market as a travel nurse. Just make sure you have a realistic idea of the amount of work that needs to be done, and how much it will cost.
8. Look for Homes with Rental Potential
Another option to consider as a travel nurse is buying a home with rental potential. This could include a property with a guest house, or one that is zoned for multi-family use. By renting out part of your property, you can generate income that can help offset your mortgage payments when you’re away on assignment.
9. Consider Renting Instead
Finally, if you’re not sure that buying a house is the right choice for you as a travel nurse, consider renting instead. Renting can give you the flexibility to move around as needed, without being tied down to a property. You can also save money on maintenance and repairs, which can be a big expense when you own a home.
FAQ
| Q: Can I get a mortgage as a travel nurse? | A: Yes, you can get a mortgage as a travel nurse. However, you’ll need to meet the lender’s income and credit requirements. |
| Q: Do I need to have a permanent address to get a mortgage? | A: No, you don’t need to have a permanent address to get a mortgage. However, you will need to have a stable income and good credit history. |
| Q: How long do I need to be employed as a travel nurse to qualify for a mortgage? | A: There is no specific length of time that you need to be employed as a travel nurse to qualify for a mortgage. However, lenders will typically look at your income history and credit score to determine whether you’re a good candidate for a loan. |