No it is not a dumb idea. However, it really depends on your situation.
I moved to Calgary this past July from Kamloops without a job. I had been applying for jobs from May to July, but I found companies were generally only interested if I could get myself to Calgary for an interview. The job market in Calgary is good enough that employers are for the most part no longer willing to relocate you.
Secured a job in September and have been working since, although I am not overly satisfied with the position and I just started up my job search again.
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