We are starting to see the very beginning of some changes to the real estate market. No, it’s not a crash or a bubble bursting….it’s called a “normal” real estate market. And as part of this change we want to share 5 Reasons You Should Never Sell a Vacant Home!
5 Reasons You Should Never Sell a Vacant Home
Just this other day, I did a walk-through with my Buyers that are about to close on their first new home….Yippie! By now, the Seller has moved out of the townhome, and boy oh boy, did it ever look different without the furniture in the home. So let me take this real life example and let’s talk about these reasons…..
People Don’t Buy Houses, They Buy Homes
One of the main reasons a buyer buys a home, is well, it “felt like home.” In our case, the home felt warm and inviting! When we did our inspection, we sat on the couch for a good 90 minutes! Talk about getting a “feel” for living there! If that living room had just been empty space, it would have not felt like home, and my Buyers may not have been able to “see” themselves living there. (I remember how they wanted to know where they bought the couch….and wanted one just like it!) A room with no furniture is cold and uninviting….
Without Furniture, There is No Frame of Reference
It can be hard to really tell just how big a room is. And this is especially true in condos! “Will my king-sized bed fit in here?” is a question I’m asked all the time. Now, if there was one there, we would know. In a single family home, you may have a hard time even figuring out what the room is for. Is this a living room, dining room, what? But when that dining room or breakfast nook has a table, chairs and some other decor, it’s much easier to see the space and how it will work for the buyer.
An Empty Room Changes the Focus
Imagine looking at a new BMW that has no paint on it! Would you notice the BMW (model, features) or would you notice it has no paint? Ahhhh…so you are focusing on the wrong thing!
When the room is empty, a buyer will focus on anything else there is to look at. Maybe it’s the paint color, or wallpaper, or a chip/crack in the tile floor. When your home is furnished, or professionally staged, this brings the focus to the positive aspects of your home, not the negatives! This can even be true of outdoor space. Maybe the deck of a townhome overlooks something less desirable…but if it’s furnished, you will be thinking out enjoying using the space more so than the fact the view is not so awesome. (and yes, sometimes even staging will not overcome these kinds of issues!)
Only Ten Percent of Home Buyers Can Actually Visualize the Potential of a Home
Ever heard someone say, “You have no imagination!” Well, the same can go for an empty home or condo. Some people can’t visualize how the couch would fit in the living room. Or how sitting on the balcony, taking in the sunset or city lights view would feel…if the balcony is empty. Even a bathroom….candles and some accessories around the bath can make one imagine relaxing there after a long day….
Two Mortgages Are More Expensive Than One!
Take into consideration that a vacant home can take much longer to sell….and the longer it “sits”on the market, we end up making price adjustments to get it sold! And if you have moved and bought another home, you are now making two mortgage payments. Would you not rather have this one sold, and only be making the one?
Professional staging does cost you, the Seller, money…yes. But what’s the cost of those extra mortgage payments? Or that $10-15,000 price reduction to get the home sold? The cost of staging will probably be less.
So at the beginning, we mentioned a “normal” real estate market. That is where you may put your home on the market, and instead of it being Under Contract in a day or a week, it actually could take 30, 60, even 90 days to sell! Now, keep in mind, this will depend on the amount of inventory in the neighborhood or building where you live, the price, etc. But, if and when we see this change, it will be critical for us, as your Listing Agent to help you get your home or condo sold as quickly as we can. And we need to look at all the steps necessary…including your home not being vacant!
Contact us today and let’s talk about our Marketing Plan and getting your home SOLD!