Whether you’re thinking about upgrading to a larger home in the Anchorage area or you’ve already made the jump and are getting moved in, you may be wondering how to manage things while you’re waiting for your previous home to sell. In this post we’ll share a few tips and strategies for bridging the time gap between buying a new home and selling your old one.
When to Sell Your Home
When you’re selling a piece of real estate, timing is everything. The market here in Anchorage tends to be quite a bit busier in the summer and slows down a bit through the fall and winter, which leads to a longer sales period for most homes. If you are yet to make your upgrade, contact us and we’ll share some advice on when is the best time to list your home. Learn More About Buying and Selling In and Around Anchorage
Put Aside a ‘Transition Fund’
If you’re feeling certain that you might have to wait a bit between buying and selling, you can save up a bit of cash in a transition fund to help cover the operating expenses of your old home until it’s sold. Consider how much maintenance would be required, whether or not you will need to complete any necessary upgrades or renovations, or if there’s still an outstanding mortgage how much will need to be paid each month. Remember that where you live will impact how much you’ll need to save as well. If your old home is in Anchorage proper it may sell faster than if you’re in Palmer or Wasilla.
Give a Little During the Negotiation Process
If you have a buyer that is serious about buying your home but is delaying the close, consider sweetening the deal by adding incentives if they close quickly. This could include furnishings, or perhaps buying them a nice new television to place in the living room. You’ll need to figure out what makes your buyers ‘tick’ as part of the negotiation process anyway, so keep an eye and ear out for their interests so you can use them as incentives later.
Consider a Short-Term Rental
If you’re facing a transition period of more than a couple of months it may be worth your while to rent the home out on a short-term basis. This is especially true if your home will remain furnished, as you can list the home as a vacation rental to capture tourists heading up to Anchorage and the surrounding area. If you do decide to rent your home, be sure that the tenants know about your plans and that they may need to move quickly once you’ve completed the sale. Remember – the best way to ensure that you’re not stuck with a lengthy transition is to work with real estate professionals who can get your home sold quickly and efficiently. When you’re ready to sell, contact the team here at RMG Real Estate Experts and we’ll be happy to evaluate your home and property and give you an honest appraisal of how quickly your sale will be complete. Contact us today at 907-562-INFO or you can click here to email us.