Happy to hear you and your wife are recovering form the economic down turn!!!
If your credit scores are not so good, you may have to pay an increased deposit.
I suggest you have your current landlord write a letter indicating your payment history with them.
Many people have had their credit score hit due to job loss.
If you can demonstrate you have maintained a good rental history in writing it may help you!
Make sure you secure a new place before you terminate your current lease. You may need to stay in your current home for another lease period if you do not secure a new home.
Best of luck to you!
Kawain Payne, Realtor
Hope this helps.
Don Groff | REALTORÂ® & Mortgage Broker
Austin Real Estate Pros & 360 Lending Group
o 512.669.5599 | m 512.633.4157 | email@example.com
websites: http://www.AustinListed.com | http://www.360LendingGroup.com
I understand wanting to move out of an apartment. I hated my apartments which is why I bought a house so young. As a landlord and Realtor who works with landlords, my recommendation would be to keep in apartments for now until you get your credit scores a bit better. If you don't like the apartment you are in, maybe look for a better one. Or maybe try a duplex.
Here's why I wouldn't recommend looking too hard at houses right now:
1. As a landlord, I'm looking for the best applicant that applies on my house because that tenant is paying the mortgage. If I don't have a tenant that is paying the bills, I lose the house and then we're both out of a house. Most landlords whom own houses are in the same situation here in Central Texas.
2. Since most landlords are looking for the best tenant they can find, many people apply (and spend application fees on the order of $50 per application per adult) but only 1 gets the property. If you know ahead of time you aren't the best applicant, you are just throwing money away.
3. Houses usually cost more to maintain. Utilities are usually higher for a house but you also have to maintain the yard and exterior.
4. Your budget (under 1200) is a little low for Round Rock but you may be able to find a house in Hutto or Taylor without settling for whatever you can find. $1200 gets a pretty nice apartment though.
I hope you do find a house that will take you but my suspicion is that you will only find a fixer upper or waste time and money if you look for a house right at this moment. Best of luck.