Moving while waiting for top-choice?

[ohindeed]

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Heyo (long-time user, throwaway account for the sake of this post),

So I’m currently accepted at a school a few hundred miles from where I live, and I’m waitlisted at my top-choice school in the city I live in now. My issue is with moving…how long would be smart to hold off looking into/signing a lease for an apartment where I’m already accepted if I’m holding out for my top choice? I’ve decided that if I ended up getting into my top choice I would abandon a lease by the school I'm currently accepted at if it came to that (over the next four years financially it would be relatively inconsequential considering living costs in the two places), but obviously if I can avoid losing a couple g’s right now I’d like to.

Is anyone else in a similar boat right now? Or have any current students been in a similar situation? Thanks for the help!

 

[Astarael]

The answer to this depends a lot on the housing market in the place you would have to move to. If there are a lot of vacancies in the new city, you could potentially wait a lot longer than if most places are taken. This should probably be a big part of your decision on when to sign a lease, but I doubt anyone here can help you with that-you just have to search the web for info.

 

[lawdoc]

Heyo (long-time user, throwaway account for the sake of this post),

So I'm currently accepted at a school a few hundred miles from where I live, and I'm waitlisted at my top-choice school in the city I live in now. My issue is with moving…how long would be smart to hold off looking into/signing a lease for an apartment where I'm already accepted if I'm holding out for my top choice? I've decided that if I ended up getting into my top choice I would abandon a lease by the school I'm currently accepted at if it came to that (over the next four years financially it would be relatively inconsequential considering living costs in the two places), but obviously if I can avoid losing a couple g's right now I'd like to.

Is anyone else in a similar boat right now? Or have any current students been in a similar situation? Thanks for the help!

You could try to either go month to month on the lease, which is usually more expensive, or see if the landlord would give you a 1 month opt out of the lease. Basically you put a clause into the year lease that after the first 30 days, you have the option of moving out without paying anything or more or maybe a small penalty that you agree to before hand. I would think all landlords like the idea of medical students renting their places and would be friendly to the opt out. Similarly, I convinced a landlord to do the opt out for me one time, and because I was an attorney went along with it.

 

[startswithb]

You could try to either go month to month on the lease, which is usually more expensive, or see if the landlord would give you a 1 month opt out of the lease. Basically you put a clause into the year lease that after the first 30 days, you have the option of moving out without paying anything or more or maybe a small penalty that you agree to before hand. I would think all landlords like the idea of medical students renting there places and would be friendly to the opt out. Similarly, I convinced a landlord to do the opt out for me one time, and because I was an attorney went along with it.

THANK you lawdoc. I am in a similar situation and have been fretting about it.