New to travel nursing

Argo · Sep 25, 2015

It would be doable but probably not the smartest thing financially for you.

Really it depends on how much you currently take home, how much the area you want to go will pay, how frugal you can be, and other financial smarts in regards to if you can make it or not.

You will not get paid for a cancelled contract and yes it does happen.

Michi66 · Sep 25, 2015

I also have a house at home but am renting it out (doesn't make up for all of the mortgage, but about 75% of it) (I have always had roommates). I just signed a 3rd assignment for 48hrs/wk, nights, floating in SoCal for a crazy amount of money ($3000/wk), which my recruiter said is very unusual for tele/med/surg, but somehow it's happening (and you have way more experience than me). I'd say rent your house out, even if it's not for the full amount, and start looking. It can all happen very quickly! Even if you can't find many people to rent it, if you find a good assignment, you should try it out. 13 weeks will be over before you know it. And if someone rents it halfway through your assignment, even better, don't even bother going home! It's definitely difficult as I've had to find contractors to do work, \stay with my parents while visiting home, and generally very chaotic to up and move every few months (but I extended to do 6 months total and I've found that helps) but it's been worth it!

nursespinka · Sep 25, 2015

Oh my you are lucky! That is exactly where I want to go first!! Just got back from vaca in San Diego and did not want to leave. I'm from the mid west so I am dreading the winter LOL. Yes we have thought about renting it out but have not made any decisions yet. Just thought it might be a hassle. How long have you been traveling? Do you like your agency?

NedRN · Sep 25, 2015

Travelers receive tax free benefits for working away from home. If you rent your home out, you no longer have a home to work away from! However having a roommate preserves your tax status and helps defray expenses.

Ideally, you would like several months of financial cushion in the bank before giving up your steady paycheck. But if that is not possible to save that up before traveling, you can grit your teeth and hope for the best, prioritizing saving over luxury and playing tourist.

nursespinka · Sep 25, 2015

If I rented out my house, but not for the whole mortgage let's say half. Would I keep my tax home? Most likely would keep all of my belongings in a room or two. So would you texhnically say I am renting out the room?

NedRN · Sep 25, 2015

If you can return at anytime to your private space in your home, then yes, you have preserved your tax home. You need an agreement with your tenant that reflects that if you get audited, and the rental income needs to be declared on your taxes. Nothing wrong with charging as much rent as you can get, your mortgage has no bearing on roommate market value. It is a good deal for them as they will likely be getting privacy most of the time for less money.

By the way, having a real roommate should also mean help with mail (if you are still addicted to real mail for paying bills or whatever).

Entravel · Sep 26, 2015

First off, welcome to the prospect of travel nursing!

2k to have as a tax home is a bit steep to travel away and still be responsible for. My first few contracts I maintained a tax home for a little over 1k after all expenses and that was tight. I do know of some travelers that get their first assignments a few hours away from home and cluster their schedules together (saying you work 36/hr week and do 3 in a row if your manager is willing) and just stay in a hotel those few days and drive back home to fluctuate their housing costs. That's one option. On one of my assignments I ended up extending and rented out part of a co-workers house that decided to do travel nursing. The way her house was set up she was able to lock up her side (room, bathroom and balcony) and I had the guest side, but that way she could still come back home on her days off if she wanted and still qualified for a tax home.

The beauty of travel nursing is the ability to have "options" with your life and finances that are unusually for most working individuals. You could contact some agencies and get some quotes without having to commit to anything to get a general idea of costs, income and area. Best wishes ahead!

NurseAdventure · Nov 6, 2015

I just signed a 3rd assignment for 48hrs/wk, nights, floating in SoCal for a crazy amount of money ($3000/wk), which my recruiter said is very unusual for tele/med/surg, but somehow it's happening (and you have way more experience than me).

Please, do you mind sharing through which agency you got this assignment from? Thanks.

Jjpount862 · Nov 7, 2015

I am amidst a contract in NoDak while renting my house out in Dallas. I followed the advice from the community here and from PanTravelers .org and did as Ned explained above. Within the rental agreement there is a clause devoted to the reservation of one bedroom of their choice that will be available to me if/when I was to return. It has worked out so far! Good luck.