To Stay or Sell Alaskan Real Estate This Year?

It's the first day of spring and a new season may spark new questions for Alaskan homeowners. Do you stay in your current home or sell your homes in Fairbanks, Anchorage this year? Just as now is a great time to buy a home in Alaska, now may also be the best time for you to sell and move on. There are many aspects of Alaskan real estate you should consider before you make a decision and below are a few to help you choose correctly. 

Why You Should Sell:

The Size of the Home
The size of your current home in Fairbanks is a major factor to consider when deciding to stay or sell. In fact, many Alaskan homebuyers this spring season will be "move-up buyers," or those looking to upgrade to a larger home with more features than their current home. If your main concern with staying or selling lies with the size of your home, it may be time to move on and move up!

The Costs of Maintenance
Homeowners— how old are your homes in Fairbanks or Anchorage? If your current property has an age of more than 15 years, big repairs may be just around the corner. According to Homes.com, a new roof can cost anywhere from $5,000 to $30,000, depending on the property. If you don’t have the means to invest in big repairs in your home or would prefer to put your money elsewhere, like into a new Alaskan real estate investment, the time is right to sell your home; the financial value will only worsen if allow these repairs to go untouched.

Why You Should Stay:

Equity Is Back
One great reason to stay put in your current homes in Alaska is due to home equity. Homes.com advises to keep your home if you expect the equity in your home to rise substantially. ”Year-over-year growth reached 8 percent at the end of 2013,” the website reports. “Homeowners already in love with their place should continue to enjoy the comforts of home and reap the benefits of increased equity when the time does come to sell.”

It's All About Location
Do you love your current area of Fairbanks, Anchorage or a nearby locale? This is one reason you may want to stay put in your current Alaskan home. It’s all about location in real estate and school systems, neighbors, community, and commute to work are all excellent reasons to push back a move. ”Many factors play into the decision of selling or staying in a home, oftentimes going beyond money and the economy,” says Homes.com.

Looking for more details about the current Alaskan real estate market? Contact the professionals at Madden Real Estate. We can help you decide whether now is the time to sell your home in Alaska or set your sights on buying further down the road. Either way, we look forward to working with you!

Wes Madden, CEO/Broker
Madden Real Estate
(907) 452-3000
Wes@WesMadden.com

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