I’ve met recently with a number of homeowners who are considering selling their properties, but don’t know where they’ll be able to buy next. Though they know they’ll do extremely well in the current market with the sale of their property, they’re nervous about competing with buyers to purchase their next place.
Here’s a suggestion that will work for these potential sellers: Rent a short-term, furnished rental. There are actually quite a number of these available at any given time, in all parts of The Bay Area. (Short-term, unfurnished rentals are more of a challenge to find, given the demand for long-term apartment leases.)
Just hit Craigslist for the area in which you’re interested in moving; it’s best to be in geographical proximity to your destination. Type in “furnished” or “short-term” in the “apts/housing” section, and a host of entries will pop up.
I recently spotted two-bedroom, short-term/furnished apartments in the Sunset ($1800/month), Marina ($3800/month; Mission Dolores ($3900/month) and a Noe Valley one bedroom ($2550/month) on Craigslist that could totally work as seller pit stops.
These rentals aren’t cheap. However, you’re able to put your belongings in storage and then move them to your new home once you purchase it, negating the need to move twice. You also won’t get too mired down in a rental, because both the price and the lack of your own possessions will keep you motivated to find the home that’s right for you.
And best of all, you’ll eliminate the possibility of making decisions under pressure, allowing you to think clearly and ultimately make the right purchasing decision for the long term.