If you're moving from Harrisonburg to another area entirely... or if you are moving from another area to Harrisonburg... you may need to - or want to - rent for the first year.
Why might you need to rent for the first year?
Many people moving to a new area find themselves needing to rent for the first year because of the challenges of selling a home in one market while trying to buy a new one simultaneously in another market.
Oftentimes, you won't be able to buy a new house until your current house is sold... or at least under contract. So, when your current house is under contract, perhaps with a 45 day closing timeline, you will then potentially have a very short period of time to find a home to buy in that new market... and you're probably not physically there to check the houses out yourself.
Yes, sometimes there is a way around this by renting back from the buyer of your current home... or by proposing longer than typical closing timeframes... but finding a house to buy, in a hurry, in a market where you are not currently living, can be challenging.
I suppose one other creative strategy could be:
1. Prep current house for sale.
2. List current house for sale.
3. Fly to new market and start viewing houses.
4. Hope your house goes under contract while you are still in the new market, and make an offer on a house you have seen on your trip.
5. Fly back home with the current house and the new house both under contract.
I'm thinking it often doesn't happen quite so simply as I have outlined above.
Why might you want to rent for the first year?
Yes, renting for a year, and then buying, will require moving twice... but there are some advantages to renting before you buy in a new market.
You will be able to get to know various neighborhoods and parts of town, or suburbs of a city once you are living (in a rental) in the new market. This will allow you to better understand the area or areas where you might want to buy a home... rather than having to choose a location of a new house before having experienced life in the new market.
You will also be able to get a broader look at available housing inventory over time... rather than just choosing from what is available to purchase in a one week or a one month timeframe.
So... if you are moving to a new area... be that moving to Harrisonburg, or moving from Harrisonburg... you might consider renting for a year before you buy.
Or not. :-)
Let me know if it would be helpful to talk through some of these concepts, logistics and strategies if you are moving from one area to another.