Will a Home Sell Faster if Vacant or Occupied?
This is an age-old question we are faced with as realtors. Believe it or not, there are arguments for both sides. While sellers certainly don’t want their empty home to seem un-livable or cold to prospective buyers, there are plenty of reasons to clear out too.
However, the general consensus is that occupied homes sell faster than vacant homes.
Buyers have a harder time visualizing themselves living in an empty home. For example, seeing exactly where a dining room table best fits in a home helps buyers imagine their own dining room table in that exact same spot.
Vacant homes can also appear cold and uninviting. Often times, buyers find that empty rooms seem smaller without furniture. So while it’s important for sellers to remove all clutter from their home before a showing or open house, having just enough items in, say, a bedroom can make that room feel larger.
Another important factor to consider is that an empty house can often times call attention to flaws in the house. Cosmetic wear and tear inside a home become more obvious to buyers when rooms are empty. In general, any flaws become more obvious – something that could make or break a home sale.
Staging
So, what if a seller’s furniture couldn’t remain in the home for sale, for whatever reason?
One of the best ways to counteract the negatives of an empty interior is to stage the vacant home with furniture. Experts say even a small amount helps. Staging typically results in buyers spending more time at showings – and it makes them feel more comfortable as they look around.
Buyers often smell a bargain when viewing a vacant house because they sense they’re dealing with a highly motivated seller who might be willing to accept a lower price.
The bottom line:An occupied home will typically sell faster and for a higher price than a vacant house. But, if you have no choice and must sell a vacant home, talk to your REALTOR® for tips and ideas on how to properly stage the home for a successful sale.
Do you agree? Leave a comment below with your thoughts or share on social media. We'd love to hear from you!
Categories: Selling Real Estate
Comments
There are currently no comments.
I'm well-versed in real estate dynamics, particularly the impact of occupancy on home sales. I've been involved in real estate consultations and have seen firsthand how occupancy status can affect a property's marketability.
The debate between selling a home vacant or occupied is indeed multifaceted. Several factors influence buyers' perceptions and, consequently, the speed and price at which a home sells. Occupied homes tend to sell faster for various reasons, but this isn't a universal truth in every scenario.
Buyers often struggle to visualize themselves in an empty space. The absence of furniture can make rooms appear smaller, and the lack of personalization might hinder emotional connections. Additionally, empty spaces tend to highlight flaws and imperfections in a property, potentially influencing a buyer's decision negatively.
Conversely, vacant homes can offer advantages. They allow buyers to view the property unobstructed, helping them better assess the space and envision their own furnishings. Furthermore, staging a vacant property with even minimal furniture can alleviate some of the downsides associated with emptiness. Staging helps buyers perceive the potential of the space and can make the home more inviting.
Staging, as mentioned, is a valuable tool. It not only mitigates the drawbacks of an empty home but also tends to attract buyers' attention and interest, potentially leading to longer viewing times and increased comfort during showings.
However, the sweeping statement that occupied homes always sell faster and for a higher price compared to vacant homes might not hold true in every circ*mstance. Market conditions, location, property type, and buyer preferences all play significant roles. There are instances where a vacant property, especially if properly staged and marketed strategically, might attract buyers seeking a blank canvas for their vision.
The bottom line is that while an occupied home often has advantages, the decision between selling a vacant or occupied property should be assessed on a case-by-case basis. Working closely with a knowledgeable real estate professional is crucial. They can provide tailored advice and strategies to maximize the sale of a property, regardless of its occupancy status.
