If you are considering selling your home, you might face a dilemma - should you put your home on the market before or after you move out? There are several pros and cons to both approaches to this problem, and we will discuss what you need to know about each of them.
Home sellers often ask what they should do in this situation, especially if they are at the beginning of the process of selling their home. For this reason, let us look at the benefits and the drawbacks of putting your house up for sale when you move out.
The benefits of selling your home when it is vacant
It might seem that it is better to sell your home without moving out beforehand, especially if you have a place where you and your family can move to temporarily. However, it is worth considering both sides in the debate on whether you should put your home on the market before or after you move out.
It will be easier to organize showings.
First of all, real estate agents can do a better job in showings when the property is empty. It is more challenging to present your home when you still occupy the premises since prospective buyers might have a difficult time picturing themselves living somewhere where other people live at the moment.
Generally, real estate agencies tend to put precedence on unoccupied homes. If they have 20 houses listed for sale, and 5 of them are still occupied, they will most likely find it easier to show those homes that do not entail dealing with additional organizational issues. For instance, they would avoid contacting you and letting you know that you need to leave your home.
Essentially, once you move out of the property, your real estate agent will be able to book more showings at any time prospective homebuyers request to see the premises. This raises your chances of selling your home quickly and even at a higher price.
It is easier to keep your house clean and presentable.
The pressure to keep your house clean and presentable at all times might put unnecessary strain both on your day-to-day life and the real estate agent's time. Furthermore, it might be inconvenient to force yourself and your family to take a walk every single time you have buyers coming in to take a look at the place.
Moving out of your property might be more convenient for you.
Also, once you finally sell your house, you will not have to worry about moving on short notice so that new owners can move in as soon as possible. In case it happens that you have to pack quickly and move out, be sure to contact an experienced moving company that will have your breakables wrapped for transport in no time.
The drawbacks of selling your home when it is vacant
On the other hand, a few drawbacks come with moving out of your house before you sell it.
First, several safety considerations need to be taken into account before you make the final call. If you live in a neighborhood where there is even a slight chance your home might get vandalized if left unoccupied for a more extended period of time, then it might be better for you to postpone your relocation. Taking the time out of your busy schedule to visit your house and make sure everything is in order can be tedious and perhaps even ineffective in some cases.
Moving out of your home might attract vandals if you leave it unattended.
Unfurnished homes are harder to sell
Houses that are not furnished can be unappealing to some homebuyers. Of course, you can always find a way to make your home more approachable even after moving out. However, this can be costly, depending on the size of your home and your budget. So, staging can remedy the situation but also make the property more expensive since this is an extraneous investment you will have to make next to the costs of extensive home repairs and home remodeling.
Concerning home repairs, most real estate agencies advise you to invest in remodeling so that you can sell your home for more money. Homebuyers usually prefer to have the basic elements already in place. So, you might find it easier to move out before you do comprehensive repairs, painting your house to make it appear fresh and inviting, changing the flooring or any other slightly run-down element of your home, etc.
It is best if the home that you are selling has a warm and homey vibe.
Paying for insurance and utility bills for two properties
If you decide to vacate the home you have put up for sale, you might inadvertently put yourself in a difficult financial situation. Settling expenses for two properties can be tough to handle financially, especially when you take into consideration that it might take some time before you sell your home. Also, putting yourself in this situation might force you to sell your house below its real property value, which is, naturally, something that you want to avoid at all costs.
Furthermore, as we have mentioned, properties located in populated neighborhoods might be vandalized while you are away. While there is the option for your home insurance to cover the damages that might occur, it is also extremely costly to maintain two insurance policies simultaneously.
Hopefully, this short article answered some of the questions that arise in the debate on should you put your home on the market before or after you move out. The key is to consider your individual situation alongside the financial repercussions that come with staying in or moving out of your home. Whatever you finally decide to do, we wish you all the luck with selling your home!