It’s time to move on from your old home, and head for something new. At this point, some sellers start to wonder whether it would be best to move their furniture, art, and decor along with them — or sell their old home with all the furnishings still in place.
Selling a home fully furnished is a great way for you to make a clean break from your old things, and can make the moving process significantly easier. Plus, there may be some advantages to selling a home with furnishings ready to go. A turnkey property certainly has an appeal for many buyers, and presenting a fully staged listing may help streamline your sale. At the same time, selling your furnishings along with your property can present some unique obstacles, and may not be the right fit for every seller.
Considering whether or not to sell your home fully furnished? Here are three key questions to ask:
What Type of Furniture Are You Selling?
As you consider the pros and cons of selling your home furnished, be sure to talk with your real estate broker to determine if your home’s decor is going to help your sale, or hinder it.
If your decor is tasteful and appealing, it could be a major asset in helping your home sell. Selling a furnished home generally means selling a staged home — and research has indicated that staged homes often tend to sell more quickly, and may even sell at a higher price point, compared to listings without staging. It’s all about helping buyers envision themselves in the home. If the furnishings appeal to buyers, or help them imagine how to best use a space, they could be a real selling point.
On the flip side, remember that tastes can vary wildly, and it’s important to appeal to as many buyers as possible. If your home is furnished in a very particular or unique way, it could actually make it harder for prospective purchasers to see themselves living there. In other cases, potential buyers may be turned off by seeing a home that comes with furnishings, which could lead to them moving on to another listing altogether. Some buyers simply won’t want to bother with negotiating over furniture and decor, or having to redecorate immediately after moving in.
What Type of Home Buyer Are You Trying to Reach?
A fully furnished home can be a major selling point for the right kind of buyer. There are also many markets where furnished homes are the norm. For example, in markets where lots of properties are sold as vacation homes or investment properties, buyers often prefer a home that they can move into or turn into a rental without having to buy any furniture or decor. It can be expensive and time-consuming to decorate a property yourself — and it becomes even more difficult when you’re furnishing a remote cabin, lake house, or mountain home.
Furnished homes are also increasingly the standard in the luxury market. Reports have indicated that high-end buyers prefer fully furnished, turnkey properties. Opting for a furnished home makes relocation easier, saves time and effort, and ensures a well-designed space.
In other cases, offering a furnished home can be a shrewd marketing tactic if you’re hoping to reach a specific pool of buyers. For instance, a home that comes fully finished may be appealing to first-time buyers who don’t want to purchase an entire home’s worth of furniture, or out-of-state buyers who don’t want to move all of their things across the country.
How Will Selling Your Home Furnished Impact the Price?
Pricing is one of the biggest questions, and complications, when it comes to turnkey, fully furnished properties.
As Bloomberg has noted, there is some “tricky math” involved in finding the right price for a fully furnished listing.
For one thing, it can be difficult to compare the price of a furnished listing to other recently sold properties, or other homes currently on the market. Whether sold furnished or unfurnished, there are lots of variables that go into pricing a home correctly for the local market; adding decor and furnishings adds another factor to consider.
With that in mind, remember that you may need to value the home’s decor separately, and then factor that estimated price in as you and your real estate team get ready to go to market. As with other home projects and updates, you may not fully recoup the costs of your interior design choices when your home sells. With that said, there could be short-term financial upsides. If your home sells faster due to the furnishings, you could save significantly on carrying costs, while also reducing the costs of staging your listing.
Similarly, it’s important for you and your real estate agent to discuss how you’re going to approach pricing, and marketing, the home and its furnishings. There are different strategies to consider. Sometimes, the asking price for the furnishings and home are bundled together, as one total. Just as commonly, they are sold separately. In other words, the price of the property is one negotiation item, and the purchasing price of the decor is another. Once decisions have been made, the price of the furnishings is then added to the total amount paid at closing.
The Importance of Working With an Experienced Real Estate Agent
Weighing the pros and cons of selling a furnished home? An experienced local real estate agent can be a sounding board and guide through every step of the process. Your broker can help you decide whether selling your home with furnishings is the right fit for your local market, and help you target the right pool of buyers for your unique property. At the same time, your agent can offer expert insights on what it takes to truly get your home ready to sell, from deciding on staging to improving your home’s curb appeal.
How Baird & Warner Makes Selling a Chicagoland Home Easier
At Baird & Warner, we know that there’s an art and science to selling your home. For more than 160 years, we’ve put a fierce focus on always putting clients’ needs first, and making it easier to navigate the selling process, at every step of the way. You don’t become the largest independent and locally owned real estate brokerage in Chicagoland by cutting any corners.
Your Baird & Warner real estate agent is your selling expert and trusted advisor, and can take the responsibility off your plate, managing all the people and moving parts to make sure you get the results you want.
From pricing your home, to getting your property ready to sell, to marketing your listing, to leading negotiations and closing the sale, your agent will be there to make the process easier. And with mortgage and title services in-house, our full-service approach can transform an intricate, complex process into one that is smarter and more seamless, so your sale goes as smoothly as possible.