March 15, 2024

Where to Live Between Selling and Buying a House

The housing market can be a complex and challenging landscape to navigate. Whether you're selling your current home or in the process of purchasing a new one, there is often a transitional period where you need to find temporary living arrangements.

This period can be anywhere from a few weeks to several months, depending on various factors such as market conditions and the closing date of your new home.

What to Consider When Choosing Temporary Housing

When it comes to finding temporary housing while transitioning between selling and buying a house, there are several factors to consider. Here are four key points to keep in mind:

1. Short-Term Rental Options

A short-term rental is a popular choice for many homeowners in the midst of buying and selling a home. This option allows you to find a temporary place to stay while your new home is being finalized. Short-term rentals can vary from fully-furnished apartments to single-family homes, providing a comfortable living space during the transition period.

Pros of Short-Term Rentals:

  • Flexibility in terms of lease duration
  • Fully furnished accommodations
  • Potential for lower costs compared to other temporary housing options
  • Ability to stay in a desirable location

Cons of Short-Term Rentals:

  • Limited availability, especially in high-demand areas
  • Potential lack of personalization and homeliness
  • Uncertainty regarding lease extensions if the transition period extends
  • Potential need for additional expenses such as storage units for belongings

2. Extended-Stay Hotels and Serviced Apartments

Extended-stay hotels and serviced apartments are another viable option for temporary housing. These establishments offer accommodations that cater specifically to individuals in need of long-term stays. With amenities like fully-equipped kitchens, laundry facilities, and housekeeping services, they provide a convenient and comfortable living experience.

Pros of Extended-Stay Hotels and Serviced Apartments:

  • All-inclusive rates that cover utilities and amenities
  • Flexibility in terms of lease duration
  • Access to hotel-like services and amenities
  • Convenient locations near business districts and transportation hubs

Cons of Extended-Stay Hotels and Serviced Apartments:

  • Higher costs compared to other temporary housing options
  • Potential lack of personalization and homeliness
  • Limited space and storage options
  • Restrictions on pets or additional guests

3. Temporary Housing Services and Corporate Rentals

Temporary housing services and corporate rentals specialize in providing short-term accommodations for individuals in transition. These services often work with real estate agents to offer a range of housing options tailored to your needs. From fully-furnished apartments to houses, they can help you find a suitable temporary home.

Pros of Temporary Housing Services and Corporate Rentals:

  • Expert assistance in finding the right temporary housing
  • Customized options to fit your preferences and requirements
  • Potential cost savings through negotiated rates
  • Access to additional services such as housekeeping and maintenance

Cons of Temporary Housing Services and Corporate Rentals:

  • Limited availability in certain areas
  • Higher costs compared to other temporary housing options
  • Potential need for additional expenses such as storage units for belongings
  • Possible restrictions on lease duration and extensions

4. Staying with Family or Friends

If you have friends or family members who are willing to accommodate you during the transition period, staying with them can be a cost-effective and comfortable option. This arrangement allows you to have a familiar and supportive environment while you navigate the process of buying and selling a home.

Pros of Staying with Family or Friends:

  • Potential cost savings as you may not have to pay rent
  • Familiarity and comfort in being surrounded by loved ones
  • Flexible duration of stay
  • Possible assistance with logistics and moving process

Cons of Staying with Family or Friends:

  • Potential strain on relationships due to extended stay
  • Lack of privacy and personal space
  • Disruption of routines and lifestyles
  • Possible inconvenience if the location is far from your desired area

5. Subletting or Renting on a Month-to-Month Basis

Subletting or renting on a month-to-month basis can provide you with a flexible housing option during the transition period. This arrangement allows you to rent a property for a shorter duration without being bound by a long-term lease.

Subletting or renting on a month-to-month basis refers to the process of renting a property from someone who already has a lease agreement in place. This option provides flexibility in terms of lease duration, allowing you to find a temporary home while you finalize your new home purchase.

Pros of Subletting or Renting on a Month-to-Month Basis:

  • Flexibility in lease duration with the option to extend or terminate easily
  • Potential cost savings compared to other temporary housing options
  • Wide range of available properties to choose from
  • Opportunity to explore different neighborhoods before settling in your new home

Cons of Subletting or Renting on a Month-to-Month Basis:

  • Uncertainty regarding the availability of suitable properties
  • Potential lack of personalization and homeliness
  • Possible need for additional expenses such as storage units for belongings
  • Limited control over lease terms and conditions

6. Vacation Rentals or Airbnb

Vacation rentals and Airbnb are popular options for temporary housing, offering a wide range of properties in various locations. From cozy apartments to spacious houses, these platforms provide the flexibility to find a temporary home that suits your preferences.

Vacation rentals and Airbnb are online platforms that connect homeowners with individuals seeking temporary accommodations. These platforms allow you to rent a property for a specific period, providing a unique and personalized living experience during your transition period.

Pros of Vacation Rentals or Airbnb:

  • Wide range of available properties in different locations
  • Flexibility in terms of lease duration
  • Personalization and homeliness in unique accommodations
  • Potential cost savings compared to other temporary housing options

Cons of Vacation Rentals or Airbnb:

  • Variable quality and reliability of properties
  • Potential lack of access to hotel-like services and amenities
  • Limited availability in high-demand areas
  • Possible need for additional expenses such as storage units for belongings

Cash Home Sale: Sell Your House Faster

A cash home sale refers to the process of selling your house directly to a buyer who has the funds available to make a cash payment. This option eliminates the need for financing and can expedite the selling process.

A cash home sale can help you get into your new house faster by streamlining the selling process. Without the need for financing and waiting for loan approvals, the transaction can be completed more quickly. This allows you to have the necessary funds to proceed with your new home purchase and minimize the time spent in temporary housing.

What Are Benefits of a Cash Home Sale?

A cash home sale offers several other benefits. These include:

  1. Certainty and simplicity: Cash home sales are less likely to fall through, providing a more secure and straightforward selling experience.
  2. No repairs or renovations: Buyers in cash home sales typically purchase the property as-is, eliminating the need for costly repairs or renovations.
  3. Avoiding agent commissions and fees: Selling your house for cash often involves fewer intermediaries, reducing the costs associated with real estate agents and commissions.
  4. Reduced stress: With a cash home sale, you can avoid the uncertainties and complexities of traditional selling methods, reducing stress during an already challenging time.

Sell Your Home Fast for Cash

If you need to sell your house fast but don’t want the hassle of a traditional home sale, contact Local Guy Buys Houses. We buy houses as-is. No repairs are needed. Avoid closing costs and realtor commissions. Close in as little as seven days. Call 855-205-5999 to get a fast cash offer from our local home buyers.

>