Renting a home, buying a home, finding an apartment and similar real estate activities go hand in hand with moving. As the experts in moving, Olympia Moving & Storage is here to help. As we near the end of 2021, we have experienced an unprecedented moving year from labor shortages to material shortages to a historic spike in moving demand. We offer some advice on whether you’re renting a home or trying to find an apartment.
2021 will forever be known as a seller’s market. Data across the country showed houses sold for prices way above asking with numerous bidders, and contingencies being waved left and right. Anecdotally, we heard a lot of sellers taking advantage of being able to sell high, gaining an influx of cash, however with no place to go. This result is renting a home or finding an apartment to rent. It’s a hot topic still to date, because as this seller’s market continues to drive prices higher, finding an apartment or renting a home becomes pricier. We see our customers and buyers across the country not able to find their next permanent residence in a timely fashion. The only solution becomes opting for a “temporary home.”
These solutions may be renting a home in your desired town, playing the waiting game for a forever home that is affordable to pop up. The other option is finding an apartment either in your same town/city of choice or looking at surrounding areas that keeps you close to your ideal location. Keep in mind, whether deciding to rent a home or find an apartment, the responsibilities may vary. With a home and depending on the state, the renter may be responsible for the care and maintenance of the home, including lawn mowing, snow shoveling and similar weather-related activities. An apartment may be a lower maintenance option; however you sacrifice the privacy you would have with a home rental. Since this is not a topic to take lightly, we suggest researching additional advice about the pros and cons of renting and buying.
In both cases, there is the argument to make that if you can be patient and wait out the market, you would benefit from the additional cash gained from the sale and you find the home of your dreams. Patience is the determining factor here, so make sure you set your own expectations to deal with an extended timeline. And with this extended timeline, understanding the lease and the termination clauses will play a big part in the whole process. There are a large number of factors that will affect your decision so make sure to do your research. There are government and private move websites that will tediously identify all the things to consider. Moving is one of the most complex and stressful things to go through in life, so make sure you’re prepared and do your homework.
Also keep in mind, when renting a home or trying to find an apartment, you’ll still have to move all your belongings. Whether you keep it in storage with a trusted provider or find storage on the temporary property, you most likely will need help. With 30 years of expertise, and the ability to move anything to anywhere, Olympia can provide the guidance and help to get your move completed effectively and efficiently.