Definition
Dual housing costs occur when carrying mortgage/rent on both properties during relocation transition. You might own old home while purchasing new one. These costs can run thousands monthly.
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Dual housing costs arise when homes don't sell or close simultaneously with new purchases. Homeowners may carry mortgage payments in both locations temporarily. Costs include mortgage, property taxes, utilities, maintenance, and insurance on both properties. Strategies to minimize dual costs include corporate home purchase programs, bridge loans, or contingency offers.
Pro Tip
Factor dual housing costs into relocation budgets. Explore corporate programs that eliminate this expense.
Example
A family pays $3,500 mortgage on old home and $4,500 on new home for 60 days, creating $8,000 dual housing cost.