One of the first things you should do if you're thinking about selling is to
walk through your home and examine it with a critical eye. Imagine yourself as a
buyer and force yourself to make mental note of all the imperfections you've
ignored for years.
Don't be surprised if you're overwhelmed by what you see. The drapes may be
faded and frayed from years of sun exposure. If you have children or pets, the
interior doors and baseboards may be nicked and need paint. Your furniture might
be outdated and the floors might look worn. It may strike you that the place
needs so much work that you ought to just move out, slap on a fresh coat of
paint, redo the floors and sell the house vacant.
Painting and floor refurbishing are good ideas. Renewing the interior
surfaces of your home when you sell is one of the most cost-effective
improvements you can make to increase your net proceeds. Buyers usually pay more
for homes that are in move-in condition.
However, selling a vacant home could result in a lower net return. The main
reason for this is that first impressions play a big part in selling homes. When
buyers walk into a home that looks bright, inviting and comfortable, they feel
good. When most buyers walk into a vacant home, they feel that something is
missing.
HOME SELLER TIP: Many people have a hard time imagining what a vacant home
will look like when it's furnished. For these buyers, a vacant house poses a
problem. They walk into an empty living room and start worrying about how they'd
furnish it. It can be a threatening experience.
Home buying is stressful enough without having to worry about how the floor
plan works and which room is used for what. A strategically furnished house
creates a more pleasurable viewing experience and reduces the stress of buying.
Granted some buyers, such as architects and designers, have the ability to
conceptualize in three-dimension. Some experienced buyers have moved so many
times that they've developed the knack of visualizing their furniture in an
empty space. But, you are likely to sell your home for more money if you can
appeal to the entire pool of prospective buyers, not just those who have a
particular expertise.
You can certainly sell your home vacant. Virtually everything sells at a
price. The question is how much more could you sell your home for if it was
attractively furnished?
A listing in the Oakland Hills (Calif.) was put on the market last fall. It
had a great view, but was vacant. It did not sell after three months on the
market during a time when all well-priced listings in the area were selling. The
listing was temporarily withdrawn from the market and staged with rental
furniture and accessories. It was put back on the market at the same price and
sold right away.
The cost of staging your home for sale may seem prohibitive, but it needn't
be. Many sellers who stage their homes for sale use their own furniture after
removing outdated pieces and rearranging the rest.
Tattered draperies can be removed and often don't need to be replaced, unless
they cover an unsightly or distracting outlook. For selling purposes, it's
important to let in as much light as possible.
It's a good idea to consult with a decorator who specializes in staging homes
for sale. A stager can arrange to bring in furniture if you decide that's what
you need. To keep costs down, you may be able to create an inviting ambiance
without furnishing your entire house or condo.
THE CLOSING: The living and dining room, kitchen, family room and master
bedroom are the most important places to concentrate your staging efforts.
Dian Hymer is author of "House Hunting, The Take-Along Workbook for Home
Buyers" and "Starting Out, The Complete Home Buyer's Guide," Chronicle
Books.
***
What's your opinion? Send your Letter to the Editor to opinion@inman.com.
