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 Cost Of Living The cost of living in Anchorage averages about 6.7 percent higher than the national average. But it’s not all bad news! Property taxes are reasonable and Anchorage has no sales tax. Neither does the state impose a sales tax on Alaskans. In fact, the state doesn’t have an income tax. Instead of paying income taxes, Alaskans receive the Permanent Fund dividend, a check they get annually just for living in the state. The Alaska Permanent Fund was created in 1976 by a voter-approved amendment to the state constitution, with the idea of preserving the state’s immense oil wealth. Like a savings account, the Permanent Fund earnings are the source for dividend payments to residents. Every year the fund distributes a portion of these earnings to eligible Alaskans in the form of a dividend check. In order to qualify for the dividend, a person must be an Alaska resident for at least one year and meet all other eligibility requirements. In 2004, the dividend was about $919. See, it really does pay to live in Alaska!
Bargain Properties >Bargain Homes
Most buyers want a home that is in tip-top condition and ready for them to occupy, but many homes sell for bargain prices because they need work. Buyers love "fixer-uppers" for the obvious reasons: the affordable price and the satisfaction of remodeling the house to accommodate your tastes and needs.
Whether you are buying the property for yourself or as an investment, choose a house that is in a good location and structurally sound. It should be priced enough below market value (usually 25%) to allow plenty of room for a profitable re-sale after the work is completed.
It is important to educate yourself before taking on a fixer-upper project. Inexpensive cosmetic improvements often give the greatest return on your investment-- paint will increase the value three times for every dollar invested. Landscaping, carpeting, and light fixtures are also relatively inexpensive improvements. Try to avoid purchasing a house that needs expensive structural improvements such as a new roof, plumbing, wiring, or foundation repairs.
Remodeling a kitchen will rarely add more than the cost of the upgrade, but new appliances usually give a fine return. An extra bathroom is the best renovation from an investment point of view, often giving twice its cost in added value.
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Lisa Herrington
Herrington & Company, LLC
255 E. Fireweed, Suite 102
Anchorage, AK. 99503
Phone: 907 646-0525
Cell: 907 229-6822
Fax: 907 279-8234
Email: lisah@pobox.alaska.net
Lisa Herrington has more than 25 years of experience as a licensed Realtor in Anchorage, Alaska. She knows the challenges newcomers face when moving to Alaska’s biggest city, from choosing the right neighborhood to making new friends, and she has helped hundreds of families relocate to Anchorage.   
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