It depends on where you are moving on whether it is better to rent or buy when you are going to a new city. Here are some questions to ask yourself about your new income and the area where you are moving to that will help you answer this important question:

Question #1: What is the median income in the area? If your new salary is way above the median income, then it would probably be wise to buy and save money. However, if your new salary is below the median income, the property you can afford may not be desirable to purchase, even if it just a starter home, because you may wind up losing money on the deal. Avoid buying studio apartments, “fixer-uppers”, and homes in gentrified neighborhoods because you may not be able to resell the home if you have to move. In this case, get a rental and see how the job goes.

Question #2: Do I want to stay in this new place where I am moving? This one is easy, because if you are just moving for a job, then you only want to rent until you see if you like a place. If both the job and the area work out for you, then you will eventually want to buy, but rent first and then get to know the area. Even if the job doesn’t pan out, you still may want to make this place your new home, but you can still rent until you find a more permanent job.

Question #3: Am I moving for family? If you are moving because of your family, whether because of your immediate family or to be near other family, you will definitely want to buy. The thing about family is that they can help you find a place to buy, and since this will be more of a permanent move, you will want the security of owning. In this case owning a home should be cheaper than renting and has many more benefits as well. Especially since you may have a local contact, you will have better information and opportunities to buy than other new people moving to the area.

Question #4: Are you moving because you found a deal on a home that you want to buy? If you can afford it, and you are looking for a home that is perfect for you, you should buy it. You may not have a job in your new area, but these days, affordable housing that is right for you can be harder to find than a job. This kind of house-hunting is thinking outside of the box a little bit, but if where you live is more important to you than what you do, don’t be afraid to buy the perfect home for you and then look for a job in the area. Sometimes, finding the perfect home will be the thing that makes everything else fall into place.