Home sellers often ask whether they should stay in their home while it is on the market, or move out. There are pros and cons to both and factors that can tip the scale to one side.
Pros of Moving Out
If the seller has engaged a real estate agent, the burden of showing a vacant home is virtually eliminated. The agent will get all calls, set appointments, and show the home. Buyers’ real estate agents are also more likely to want to show vacant homes. If agents have 20 home options and 15 are occupied, they may well show the vacant homes out of convenience. They don’t have to call and make an appointment and can simply go over and use the lockbox. Further, the continual pressure to keep daily life from affecting the home’s pristine staging presentation is eliminated. The seller is not under constant pressure to keep the home in immaculate showing condition. If you’re someone who might struggle to keep your home in turnkey condition for showing purposes—for example, if you have young children—consider vacating before putting the home on the market.
Cons of Moving Out
Dual mortgage burden: If a seller needs to buy a new home before selling their current one, they may experience the financial strain of carrying two mortgages at once (ask us about bridge loan options). Insurance considerations: Certain insurance policies may limit coverage for vacant properties.
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