Homebuying in any location can be a lengthy, involved process. However, the state laws, cold climate, and low population density in Alaska can make it even more complicated. If you’re considering buying real estate in the Frontier State, use the following three tips to learn what to expect before you shop.

What to Know as a Homebuyer in Alaska

1. Know When to Buy

In any real estate market, it’s important to consider patterns of migration and how they might affect property sales. In Alaska, many new homebuyers are employed by the government or active in the military. Since most of them move in during early spring, you’ll find plenty of competition and fewer listings during this time of the year. 

Instead, wait until late spring or early summer to make an offer on a home. Not only is there less competition from newcomers, but current residents will be eager to wrap up the closing process before the autumn snow starts to roll in. 

2. Remember Population Density

If you’re hoping to buy a home to start a family, privacy and a peaceful, domestic life are probably high on your list of priorities. Luckily, there is an average of 1.2 people per square mile living in Alaska.

You don’t have to worry about filtering your search based on your need for peace and quiet. In this Northern state, you’ll find it almost everywhere you go. If you’re moving from a densely populated area and want to reduce the culture shock, focus on cities with the most concentrated populations, such as Anchorage.

3. Consider Your Savings

When buying a home, the most significant consideration will be your budget. Luckily, those moving to Alaska have the upper hand. Unlike other states, Alaska doesn’t require a real estate transfer tax, resulting in lower closing costs.

Also, state residents are entitled to the Alaska Permanent Fund, which pays around $1,000 to each person per year, so your closing costs could be recuperated in several years. 

If you’re interested in buying real estate in Alaska, let Nova Property Management of Anchorage, AK, handle the process. If you decide to rent out your real estate, they’ll handle tenant applications, rent collection, inspections, maintenance calls, and other essential tasks. To learn more about their services, visit the website. Call (907) 522-1332 to speak with a representative.