Pros and Cons of Selling a Vacant Home
After hitting the jackpot for the second-place prize, you take off for the Caribbean with no intention of going back. Your home is vacant. It’s time to sell that baby and buy a sailboat.
Or more likely your work relocated you.
Or your property is a rental unit.
We all have different reasons for selling an unoccupied home. What are the advantages and disadvantages of selling your home empty?
Let's sell that home!
Vacant Homes are Easier to Show
There is no need to schedule showings in unoccupied homes. Agents have easy access to a vacant home whenever it is convenient.
Some buyers even prefer to look at a vacant home increasing the number of showings you get.
Vacant Homes Are Easier to Keep Clean
Life is messy.
Have you ever tried keeping a bathroom show-ready with a family of 4?
Drinks spill. Pets shed. "Not Me" gets crayon on the wall. Heck, I live alone in a studio and I can’t keep it clean.
You Don’t Get Interrupted for a Showing
Only Patrick Batemen likes opening up his home to strangers.
No matter how dedicated you are to closing, showings force you to adjust your schedule.
Buyers don't run your schedule. Let the real estate agent handle it.
Buyers Picture Their Own Things in a Vacant Home
They can’t see past your creepy-looking doll collection.
It’s easier for some buyers to envision the home as theirs when they work with a blank slate.
There's always one excited shopper, "And my sewing table could here. And your bookshelves could go there!"
On the other hand...
Vacant Homes Feel Vacant
Homes appeal to us for their warmth and coziness.
Vacant homes feel hollow and empty. Blemishes are more easily discovered in a bare room.
Staging the home may create the emotional connection some buyers are looking for.
Vacant Homes Attract Crime
Vandals and other criminals find vacant houses appealing.
Dirty Mike and the Boys will turn your place into a soup kitchen.
Even with “nothing” to steal inside, they’ll strip it of all the copper plumbing they can find.
Vacant Homes May Signal Urgency
Homebuyers assume a vacant home indicates urgency on the seller’s part. And many times they are right.
The need for a quick sale is more obvious when a home is empty.
The owner may have already purchased another home and nobody likes carrying a mortgage, nevermind two.
Vacant Homes are More Expensive to Insure
Insurance companies do not look at occupied and vacant homes the same way.
Vacant homes are at greater risk for vandalism, fire, and extreme weather.
Tips for Selling a Vacant Home
- Let your neighbors and friends know you are selling and no longer there.
However, this is not the time for a Facebook post: “Finally moved out of our house!! I can hardly wait for a buyer to show up!”
Who is stupid enough to do that? People do it all the time when they go on vacation...and that’s when your home is full of your valuables.
- Do you live in a safe neighborhood where no one bothers to lock the doors?
Well, you best be bothered now. Good locks with deadbolts help keep an honest man honest.
- A cheap trick to keep the appearance of someone living there is keeping your lights on timers.
Set the timer for the master bedroom light to come on just after a downstairs light goes off.
Now What?
It’s your turn to weigh the pros and cons of selling your home vacant.
A skilled real estate agent should be able to provide additional solid advice for your market.
With their guidance, you’ll be able to sleep at night, whether it’s in your old or new home.
