The Pros and Cons of Listing Your Home While You're Still Living There
Today, let's dive into a hot topic: should you list your home while you're still living there? This is always one of the first questions asked at my listing appointments, because it's a decision that comes with its own set of pros and cons, and navigating through them requires a bit of thoughtful consideration. So, let's break it down, shall we?
The Pros:
1. Convenience: One of the biggest advantages of listing your home while you're still living there is the convenience factor. You don't have to worry about vacating the premises before putting it on the market, which can save you a lot of time and hassle.
2. Staging Opportunities: Living in your home while it's listed allows you to showcase its full potential to perspective buyers. You can stage each room to perfection (with the help of your qualified Real Estate Agent!), adding personal touches and creating a warm, inviting atmosphere that helps buyers envision themselves living there.
3. Maintenance: Being present in your home means you can stay on top of maintenance and repairs more easily. You can address any issues that arise promptly, ensuring that your home is always in top condition for potential buyers.
4. Saving Money: It’s hard to justify continuing to pay a mortgage and utilities (yes, utilities have to stay on through closing!) on an empty house. You’ll save money by only paying for one place to live at a time!
The Cons:
1. Privacy Concerns: Listing your home while you're still living there can compromise your privacy; you may feel uncomfortable having strangers walking through your space. I always advise sellers to lock up their personal items, medications, collectables, and firearms. Even though every showing should be hosted by a licensed Realtor®, we don’t all treat our business with the professionalism it deserves.
2. Clutter and Personalization: Living in your home while it's listed means you'll have to strike a balance between making it feel lived-in and keeping it clean and clutter-free for showings. Too much personalization or clutter can turn off potential buyers, so it's essential to find the right balance.
3. Emotional Attachment: It can be emotionally challenging to sell a home that holds many memories and sentimental value. Living in the space while it's listed can amplify these emotions, making it harder to detach and move on.
4. Limited Flexibility: Living in your home during the selling process comes with limitations. You may have to adjust your plans to accommodate last-minute showings or open houses, which can be disruptive to your routine. You are able to block out certain times/days to fit your needs, but the more time you can make the house available for showings, the more potential buyers have the chance to see it!
Other things to Consider:
How “taste specific” are your furnishings and decor? When listing a house, the staging should be depersonalized which includes the style of the decor and furniture. If the house is full of very “taste specific” items (or colors), buyers have a harder time envisioning themselves there.
What is next for you and your family? Do you have orders? Do you have to sell this house in order to qualify for your next house? Do you have backup plans or contingency funds?
What are your priorities for selling your house? This is the question I like to ask sellers, because truly understanding what’s best for them and what they expect out of the sale can help me advise them on what to do- list before or after moving out.
In conclusion, listing your home while you're still living there has its advantages and disadvantages. It's essential to weigh these factors carefully and consider your unique circumstances before making a decision. Ultimately, whether you choose to list your home while living there or wait until you've moved out, the most important thing is to make a choice that aligns with your goals and priorities.
Happy selling, everyone!
