In the market for a new job? You Wait Till You might want to have a new home

A new career and a new home are two of the biggest changes your life can take. Both are focused on research, research, and adaptation. But, a new career and a new home they shared more than a little 'to hustle and bustle: changing jobs can actually affect - often negative - the possibility of buying a new home. So if you are out looking for something a little 'more comfortable, you might want to put your career change and quietly consider the following:


Determine how you are paid: If you are paid an annual salary or hourly basis, a new job, should not really hurt when looking for a new home. This is, of course, assuming that you will make a similar amount in your new job. If you have a job where you are paid on commission, however, can drastically change jobs are added.

Banks and lenders use in the past two years to figure out your income. If you make your money based on commissions (or bonuses) - and suddenly change jobs - they have nothing to be based on an average. This creates too much ambiguity for banks and lending institutions to have faith. If you do not plan to be credible, will probably not be willing to support you.


Determine how much you work: if you have a job where you work only part-time, maybe twenty or twenty-five hours per week, is a good idea to stay as long as you have your new home. The reason for this is part-time may be inconsistent with the times: you could work twenty-five hours a week as a waitress, but if you move to a new restaurant, you may be assigned only fifteen hours per week.

The downside, if you work a lot of overtime, that is the same mantra: stay where you are. When figuring income, banks and lenders may use overtime hours that have accumulated over the past year. However, if you change jobs, can not use "potential" overtime. Their thinking is that your new job may not be liberal with the overtime, as the old one was.


Do not Go self-employed ... at least not yet: So, are you tired of the rat race and realize it's time to be your own boss. Well, wait until you have your own home. There are changes that are few jobs as risky as self-employment, mortgage lenders and they know it. This does not mean that creditors do not want to help anyone who is self-employed, but generally like to see a strong self-employed for two years could expect to come to you aide.

Other major changes, such as taking a partner or make your business a sole proprietorship, should be delayed until after you buy your new home .......