Housing Gap
If you’re like many people, you’re facing a “housing gap.” That’s what happens when you sell your current home but can’t yet move into your next one.
So what are you supposed to do in a situation like that?
This guide explains.
How to Deal With a Housing Gap
When you sell your current home with a few days (or weeks) left before you’re able to move into your new one, you have a few options:
- Rent back your old house
- Rent another space
- Find an extended stay hotel
- Stay with family or friends
- Ask the seller of your new home to adjust your move-in date
Here’s a closer look at each.
Rent Back Your Old House
In many cases, buyers are willing to allow sellers a few extra days – in exchange for rent. If your timeline aligns with your buyer’s timeline, you may be able to stick around for a while until the new buyers can move in.
Rent Another Space
If it’s going to be a while before you can move into your next home, it may be in your best interest to rent a temporary home or apartment. Often, it’s possible to find a month-to-month lease in a furnished apartment.
Find an Extended Stay Hotel
If you only need a few weeks, an extended stay hotel may be your best option. Remember, though, that extended stay hotels – particularly the nicer ones – can be a little on the costly side.
Stay With Family or Friends
When you’re only talking about a few days, it may be a good idea to stay with family or friends while you wait to move into your new home. It’s certainly the most cost-effective option!
Ask the Seller of Your New Home to Adjust Your Move-In Date
See if your move-in date is negotiable. If the seller can give you the time you need, you won’t need to worry about a housing gap at all.
A qualified agent with years of experience in the real estate market can help you with your options. When you’re ready to learn more, connect with me today. I’m happy to help!
