Planing to move to Anchorage AK in late June from New Jersey (Kenai: real estate, rentals)

[Thalasila]

I am planing to move to Anchorage, in June.
I expecting to leave with my retirement money.
Anchorage is completely strange place to me and my wife.
Planing to buy two bed room condominium.
For the past 25 years I lived in North east. Can any body suggest what is the desirable neighborhood for semi retirement living.

[AKStafford]

Have you visited Alaska? Do that first.
Why Anchorage? Have you looked at the Kenai Peninsula or the Mat-Su Valley?

[NWbyNW]

Visit for a week or two if you can before you go. Don't ever buy a place or rent before you get there without seeing the area.

Do you have specific questions or certain guidelines? I could recommend a nice neighborhood far away from services, or maybe you want something close to services... what do you want nearby? Is driving by car okay? Do you want access to a bus line?

Anchorage is way different then anything you will encounter in the lower 48. Alaska is as a whole.

[Parnassia]

Originally Posted by AKStafford

Have you visited Alaska? Do that first.
Why Anchorage? Have you looked at the Kenai Peninsula or the Mat-Su Valley?

+1

Visit Anchorage first, and not in full summer. Research neighborhoods while visiting. Then if you find an area that appeals to you, try renting for a year. Reason being that if you decide you DON'T like it, you will still be flexible enough to move back down south. Moving expense to and from AK is a serious consideration. If you are retired I will assume you and your wife are older? You should research what senior support services are available in the city. The realities of winter and the relatively high cost of living might play in to your final decision to move. Its just not NJ, and its just not the NE. Personally I don't know what retirement-type communities exist, but they might not be located in neighborhoods that offer other things you want.

[Thalasila]

Thanks for the advise.
I want some partial employment ( semi retirement),
My daughter with her 2 year daughter is moving in this summer. She is going to work in hospital system.
Staying close to my grand daughter for few years is our (mine and my wife's) intention.
I am also working as therapist for the last 12 years.
I was told Anchorage one place that will have some job opportunities and some services available like moderate city.
I may be wrong, I will definitely fallow your advise. I will look for short term lease first.

[907mckenzie]

I disagree, it's perfectly normal for people to buy homes without first visiting. In fact, it happens often. It is important to research different areas or town and find a place that most aligns with your lifestyle. The rental market in Alaska, especially Anchorage, can be very steep in prices. If you are planning to move here and stay longer than 3 years, then absolutely consider buying a home since you'll be saving money this way.

You are correct about the job opportunities, typically finding jobs in any medical field isn't too difficult up here. I feel that Anchorage is a good town to live in to help "adjust" to Alaska living. However, if you don't mind a 45min-1hr commute Wasilla/Palmer is a good option for cheaper housing and slightly more rural living.

There are a lot of different factors to consider. I'm not sure of what factors are most important to you and if you have considered other areas outside of Anchorage. I'd be happy to speak more on the Eagle River, Palmer,and Wasilla areas as well as Anchorage if you'd like.

Good luck on your move!

[Metlakatla]

^ Spoken like a real estate agent.

OP, don't buy a home in Anchorage without visiting. You might get stuck with it if you decide the city isn't for you.

[907mckenzie]

If the plan is to stay in Anchorage for 3 years or more, it absolutely makes sense, financially, to buy. Moving from another state can be expensive enough just getting here and getting settled in.

If you are moving here to test the waters, and plan to move in 1 or 2 years if you don't like it, then by all means, rent.

However, if you're like most people and spending money to move here and will plan to stick it out for at least 3 years or more, even if you end up not liking it, then it makes more sense, financially, to buy a home.

You will not "get stuck" by buying a home. In fact there are a couple different options should you decide to move(selling, renting, airbnb vaction rental). Buying real estate is historically one of the safest investments you can make.

With that being said, if you're unsure of your future in Alaska it's probably best to rent. Keep in mind(like I previously mentioned) that rentals can be expensive, so if you end up seeing yourself in Alaska for the long term, then consider buying.

My point is... depending on your personal & financial situation, it is important to evaluate all aspects of your move.

[Metlakatla]

If the plan is to stay in Anchorage for 3 years or more, it absolutely makes sense, financially, to buy. Moving from another state can be expensive enough just getting here and getting settled in.

I didn't say it didn't make sense to buy. What I said was not to buy without visiting.

I realize you're just trying to make a living by selling real estate, but advising people to buy without visiting isn't very responsible.

I know several people with properties that aren't moving, and with the state's financial future up in the air, people need to practice caution.

If someone can't afford to visit Alaska prior to purchasing property, they can't afford to live here.

Air BnB and renting can work in limited circumstances but aren't automatic answers when things don't go as planned.

[907mckenzie]

For a lot of people, being able to visit prior to buying would be wonderful, but not always possible.

Many people are relocating to Alaska for jobs, or are in the military and some are working on a strict timeline for starting a job or needing to be settled in by a certain date. In fact, in our day and age, many people buy a home based on a video/Facetime showing..and this isn't just in Alaska either.

For many people, the reality is they can't visit Alaska before moving here and not just for financial reasons. I think it's great, if you have the opportunity to visit before moving/buying a home. But it truly isn't uncommon for people to buy without visiting.

Finding rentals can be difficult at times depending on budget, pets, etc. For some, it makes more sense and can even be less stressful to buy a home(sounds crazy, I know).

I know a lot of people who rented for a year after moving here before buying a home and I think that's great! All I'm trying to convey is that it's not a bad or scary thing to buy without visiting as many do it successfully every day and if you're coming here with the intention of staying for a while, then it's not something that should be avoided out of fear.

Everything is situational, what makes sense for some, doesn't for others and it's critical to explore all options before making a decision.