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June 14, 2021

Where to Stay While You Sell Your Home

by Sandy Dodge

Saltwater Homes Llc Gig Harbor Wa Real Estate Boxes 768x512

The time between selling a home and moving into a new one can be a challenging period for homeowners that leaves them with a basic question: Where should I live? In the interim, there are various housing options to choose from but picking the right one depends on your personal situation and the amount of time it will take until you move into your new home.

Once you know it’s time to sell your home, there are various factors that will have an influence on what housing is available to you. Your budget will help determine your options. For example, if you are already in contract with your new home, you might be looking to save some money in preparation for move-in costs. Seasonality plays a role as well. Talk to us about real estate trends in your local market to understand which housing options tend to be available at certain times of the year.

Where to Stay While You Sell Your Home 

In Your Home

There is the option to stay in your home while you sell it. If your home is still on the market, understand that a fully-staged home will be fundamentally different from the one you’re used to. Once you’ve sold your home, there are additional options for staying as well. By working closely with your agent, you can negotiate a longer closing period or a rent-back agreement with the new owners. A rent-back agreement is an agreement between the two parties in which the seller rents their old home from the buyer for an agreed-upon period of time before the new buyers move in, allowing for a smooth transition to take place. Depending on the buyer’s urgency to move in and the competitiveness of the market, a rent-back agreement may not be feasible, but in the right situation, it presents a mutually beneficial solution.

Apartment or Condo

Renting an apartment or condo while you wait to get into your new home can help make the transition easier. To avoid unpacking all your belongings only to have to pack them back up when it’s time to move again, try to find furnished listings in your area, or search for units that offer furnishing at an added cost. Although paying rent is an added expense, this setup can help you stay organized throughout the moving process.

Friends & Family

If you have friends or family nearby that have space to accommodate you, they may be open to the idea of taking you in until you’re able to move into your new home. In this scenario, you’ll likely need to store your household items elsewhere, which will come with an added cost. Of all the options, this is typically the least expensive.

Short-Term Rentals

The short-term rental market offers a flexible approach to finding somewhere to stay. Filtering your results by location will allow you to select a place that won’t disrupt your daily routine. If you won’t be moving into your new home for an extended period of time, you can choose a rental with amenities that accommodate your longer-term needs. Keep in mind, the cost of short-term rentals can easily add up, and in some cases may be more expensive than renting an apartment or condo.

Hotel

Another popular option for riding out the interim period between houses is staying at an extended-stay hotel. These hotels usually offer amenities that accommodate long-term living like a kitchen, living space, laundry services, a refrigerator, internet, and more.

For more information on selling your home, visit the Selling Page on our blog. To get an idea of what your home is worth, contact us to provide a market valuation.

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Blog, Selling

Portrait of Claudia Gentzkow

Claudia Gentzkow

Saltwater Homes

BROKER | REALTORĀ® | SRESĀ® | RENEĀ® | NinjaĀ®

Contact Us Today

(253) 732-4663
claudia@saltwaterhomes.com

We remain available to answer ANY questions you may have and make this process as easy as possible for YOU!

Ā© Claudia Gentzkow
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Realtor, MLS, and Equal Opportunity Housing Logos As a REALTORĀ®, you can use the REALTORĀ® membership mark to help identify yourself as a member of the National Association of REALTORSĀ®. The term ā€œmultiple listing serviceā€ refers to the system used by real estate agents to compensate other brokers and to accumulate and share information about properties with each other. Equal Opportunity Housing refers to the idea that all persons should be granted ā€œequal opportunitiesā€ when it comes to renting or purchasing real property. This is usually in reference to anti-discrimination policies and laws set forth by state and federal governments.
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