The number one thing to know is that vacant homes sell for less money and on average spend more time on the market…
It was researched that nationwide on average homes sold for more than $11,000 less if the home was vacant. Chief Economist Daryl Fairweather stated, “Although vacant homes are easy for buyers to tour at their convenience, the fact that the sellers have already moved on is often a signal to buyers that they can take their time making an offer.” “It’s also likely that sellers who are in a comfortable enough financial situation to own a property that’s sitting empty aren’t as motivated to get the highest possible price for their home as sellers who need the cash from their first home in order to buy the next one.”
When it comes to amount of days it took to sell a home, there was a minimum of 5 days more up to 15 days to sell a home that was vacant opposed to occupied in the study.
Staging Vacant Homes
It also becomes much more costly needing to stage a home that is vacant. “Staging a property can have a profound effect on both the sale price and days on the market, but the main challenge of physical staging is that it’s cumbersome, costly and offers no flexibility to showcase various aesthetic stylings,” said Pieter Aarts, CEO and co-founder of roOomy.
With an occupied home for sale it gives the buyers ideas for the aesthetic design of the home opposed to an empty living room for example.
Please feel free to reach out and contact if you need advice or are thinking of selling your home. Chris Vish at 734-604-4030 or Chris@chrisvish.com