If you’re not 100% sold on buying again or want to wait until the market cools to purchase, you may consider renting after you sell your home. This option comes with a unique set of pros and cons you’ll want to know before you commit to the transition. For some, renting after selling can be the perfect way to avoid the rush to find a new place — especially if you’re in a seller’s market with low inventory and fierce buyer competition. Here are just a few reasons you might choose to rent after selling your home: According to the National Association of Realtors, in 2023, buyers typically spent 10 weeks searching for a home, visiting a median of seven homes, and viewing an average of four homes via the Internet. Additionally, a report from ICE Mortgage Technology, a loan software firm, revealed that the average duration to close on a house purchase as of December 2023 was 47 days. By comparison, most rental applications take about three days to turn around. A December 2023 report issued by Rent.com noted that asking rents declined by two percent in November compared to last year.Benefits of renting after selling
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